By Luis Machado, Petersen Museum Educator, originally published May 12, 2023.

Famed 1961 Ferrari 250 GT SWB #14 that won Le Mans.

It started with Enzo Ferrari

Enzo Ferrari, a car enthusiast from Modena, Italy, worked for Alfa Romeo as a test driver and later founded the Scuderia Ferrari racing team in 1929, which served as a testing ground for his ideas and innovations. Enzo Ferrari left Alfa Romeo due to a disagreement over the direction of the company's racing department. Despite the success of the Scuderia Ferrari racing team, which was sponsored by Alfa Romeo, Enzo felt that the company was not fully committed to racing and wanted to strike out on his own.

The agreement ending the association between Alfa Romeo and Enzo Ferrari forbade Ferrari from restarting Scuderia Ferrari within the next four years. The liquidation coming from Alfa Romeo helped Enzo to found his new company, Auto Avio Costruzioni, based in Modena, which focused on manufacturing aircraft parts and machine tools for the Italian government during the Second World War. In December 1939, AAC was commissioned by Lotario Rangoni Machiavelli, Marquis di Modena, to build and prepare two racing cars for him and Alberto Ascari to drive in an open-air race of the Mille Miglia. AAC created their first car, the Tipo 815. However, the 1940 Mille Miglia race was canceled due to World War II. Despite this, the 815 remains an important part of the history of AAC and Ferrari as it marked the beginning of the company's foray into the world of sports car manufacturing.

From Aircraft to Vehicles

After the war, the demand for aircraft parts declined and Enzo Ferrari turned his attention to producing cars. In 1947, he founded Ferrari S.p.A and AAC was eventually merged into the new company. Focused on producing high-performance sports cars. Ferrari created its first road car, the 125 S, introduced in 1947, based on a modified Fiat chassis and powered by a 1.5-liter V12 engine. It was followed by several other iconic models, such as the 250 GTO and the 275 GTB in the 50s and 60s. These cars combined racing-inspired performance with elegant design, quickly establishing Ferrari as a leader in the high-end sports car market. The Ferrari 250 GTO is one of the most valuable and sought-after classic cars in the world, with some examples selling for more than $50 million.

Throughout the 1960s and 1970s, Ferrari continued to dominate the racing world, winning numerous races and championships in 24 Hours of Le Mans and Formula One World Championship with legendary drivers such as John Surtees, Niki Lauda, and Jackie Stewart. Ferrari has won more than 5,000 races, including 16 Constructors' Championships and 15 Drivers' Championships in Formula One. This success on the track helped to further cement Ferrari's reputation as a manufacturer of world-class sports cars.

In 1961, Ferrari fired several top executives, including the company's managing director, due to differences in opinion regarding the direction of the company. The executives who were fired were reportedly in favor of expanding Ferrari's production to include more high-volume models, while Enzo Ferrari was more focused on maintaining the exclusivity and high performance of the brand. This disagreement led to the firing of several executives, who then went on to form their own automotive companies.

In the 1970s, Ferrari faced financial difficulties and was eventually acquired by Fiat in 1969, a leading Italian automaker. During this time, Ferrari continued to produce high-performance sports cars, such as the 308 GTB and the 512 TR.

In the late 20th and early 21st centuries, Ferrari went through a period of rapid expansion and increased sales, with the launch of new models such as the 360 Modena and the F430. The brand has expanded its product line to include a range of high-performance sports cars, as well as limited-edition supercars and hybrid models, in line with the trend towards electrification in the automotive industry. The company has also increased its focus on luxury, offering custom interiors and high-end features in its cars. Despite this, Ferrari has not lost sight of its racing heritage, and continues to compete in various motorsports events around the world.

Ferrari became a standalone company in 2016, following a spin-off from Fiat Chrysler Automobiles (FCA), which was a merger between Fiat and Chrysler. The spin-off allowed Ferrari to become its own independent company, with its own management, board of directors, and stock listings on the stock exchange.

The spin-off was part of FCA's strategy to focus on its core automotive brands, such as Jeep and Ram, while allowing Ferrari to pursue its own growth opportunities and capitalize on its strong brand and financial performance. The move was well-received by investors and the stock price of Ferrari has since performed well.

Ferrari is one of the most valuable and well-respected car brands in the world. With a rich history of innovation and performance, Ferrari continues to push the boundaries of what is possible in the world of high-end sports cars. Ferrari has a long-standing relationship with Pininfarina, an Italian car design firm responsible for creating some of Ferrari's most iconic models. The company’s iconic logo is a black prancing horse on a yellow background, which was originally the symbol of Count Francesco Baracca, an Italian ace pilot during World War I. Ferrari also has a theme park, Ferrari World, located in Abu Dhabi. The company's flagship model, the Ferrari 812 Superfast, has a top speed of over 211 mph and can go from 0 to 60 mph in just 2.9 seconds.