10 Things you should know about Ferrari

Ferrari is a brand founded by Enzo Ferrari. Here are 10 Things you should know about Ferrari.

1. Ferrari is an Italian luxury sports car manufacturer based in Maranello, Italy.
2. It was founded in 1939 out of Alfa Romeo’s race division as Auto Avio Costruzioni.
3. The company built its first car in 1940.
4. However, the company’s inception as an auto manufacturer is usually recognized in 1947, when the first Ferrari-badged car was completed.
5. Fiat S.p.A. acquired 50% of Ferrari in 1969 and expanded its stake to 90% in 1988.
6. In October 2014 Fiat Chrysler Automobiles N.V. (FCA) announced its intentions to separate Ferrari S.p.A. from FCA.
7. As of the announcement FCA owned 90% of Ferrari.
8. The separation began in October 2015 with a restructuring that established Ferrari N.V. as the new holding company of the Ferrari group and the subsequent sale by FCA of 10% of the shares in an IPO and concurrent listing of common shares on the New York Stock Exchange.
9. Through the remaining steps of the separation, FCA’s interest in Ferrari’s business was distributed to shareholders of FCA, with 10% continuing to be owned by Piero Ferrari.
10. The spin-off was completed on 3 January 2016.