Ferrari is an Italian luxury sports car manufacturer based in Maranello. Founded by Enzo Ferrari in 1939 out of Alfa Romeo’s race division as Auto Avio Costruzioni the company built its first car in 1940.
However the company’s inception as an auto manufacturer is usually recognized in 1947 when the first Ferrari-badged car was completed.
In 2014 Fiat Chrysler Automobiles announced its plans to separate Ferrari S.p.A. from FCA; as of the announcement FCA owned 90% of Ferrari.
Does Fiat Own Ferrari?
Ferrari is an Italian luxury sports car manufacturer based in Maranello and it is currently a subsidiary of Fiat Chrysler Automobiles (FCA). In 2014 FCA announced its plans to spin off Ferrari as a separate company. Prior to the spin-off FCA owned 90% of Ferrari.
Ferrari was founded by Enzo Ferrari in 1939 and the company built its first car in 1940.
However 1947 is usually recognized as the year Ferrari began operations as an auto manufacturer. That’s when the first Ferrari-badged car was completed.
Today Ferrari is one of the most well-known and respected luxury car brands in the world. The company’s cars are coveted by celebrities and wealthy individuals and its racing team is a perennial favorite in the Formula One circuit.
With its rich history and enviable reputation it’s no wonder that people are interested in knowing who owns Ferrari.
So does Fiat own Ferrari? Read on to find out.
A Brief History Of Ferrari
As mentioned Ferrari was founded by Enzo Ferrari in 1939. Ferrari was born in Modena Italy and he developed a love for racing at a young age.
He started his career as a race car driver in the early 1920s and he eventually transitioned to working as a team manager and constructor for Alfa Romeo’s race division.
In 1929 Ferrari founded Scuderia Ferrari as a racing team that was associated with Alfa Romeo. The team enjoyed success in the early 1930s but it was forced to disband in 1937 due to financial difficulties.
In 1938 Ferrari founded Auto Avio Costruzioni which was a company that built race cars. The company’s first car the Auto Avio Costruzioni 815 was completed in 1940.
However World War II halted production of the car.
After the war Ferrari resumed production of the 815 and the company also began working on a new car the Ferrari 125 S. The 125 S was the first car to bear the Ferrari name and it made its debut at the 1947 Venice Grand Prix.
In the 1950s Ferrari became a major player in the world of motorsports. The company won its first Formula One World Championship in 1951 and it would go on to win numerous championships in the years that followed.
In the 1960s Ferrari also began producing street-legal cars.
The company’s first road car was the Ferrari 250 GTO which was introduced in 1962. The 250 GTO was followed by other popular road cars such as the Ferrari Dino the Ferrari Daytona and the Ferrari Testarossa.
In the late 1990s Ferrari was facing financial difficulties and it was sold to Fiat in 1999. At the time of the sale Fiat owned 30% of Ferrari.
In 2005 Fiat increased its stake in Ferrari to 90%.
In 2014 Fiat announced its plans to spin off Ferrari as a separate company. The move was completed in 2016 and as of 2019 Fiat no longer owns Ferrari.
Who Owns Ferrari Now?
So if Fiat doesn’t own Ferrari who does? As of 2019 Ferrari is owned by a number of different investors.
The Agnelli family which is the controlling shareholder of Fiat Chrysler Automobiles (FCA) owns the largest stake in Ferrari.
Other major Ferrari shareholders include Piero Ferrari (Enzo Ferrari’s son) and Exor (an investment company that is also controlled by the Agnelli family).
Why Did Fiat Spin Off Ferrari?
Fiat Chrysler Automobiles (FCA) announced its plans to spin off Ferrari in 2014. At the time FCA owned 90% of Ferrari. The move was completed in 2016 and as of 2019 Fiat no longer owns Ferrari.
So why did Fiat spin off Ferrari?
There are a few different reasons. First Fiat wanted to focus on its core businesses which are mass-market cars and trucks.
Second Fiat wanted to avoid any potential conflicts of interest between Ferrari and FCA’s other luxury brands such as Maserati and Alfa Romeo. And third Fiat wanted to unlock the value of Ferrari so that