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Ferrari S.p.A. is an Italian sports car manufacturer based in Maranello, Italy. Founded by Enzo Ferrari in 1928 as Scuderia Ferrari, the company sponsored drivers and manufactured race cars before moving into production of street-legal vehicles in 1947 as Ferrari S.p.A.. Throughout its history, the company has been noted for its continued participation in racing, especially in Formula One, where it has enjoyed great success.
After years of financial struggles, Enzo Ferrari sold the company's sports car division to the Fiat group in 1969 to ensure continued financial backing. Enzo Ferrari retained control of the racing division until his death in 1988 at the age of 90. Earlier that year he had overseen the launch of the Ferrari F40; the last new Ferrari to be launched before his death, and arguably one of the most famous supercars ever made.
The first Ferrari road car was the 1947 125 S, powered by a 1.5 L V12 engine; Enzo Ferrari reluctantly built and sold his automobiles to fund Scuderia Ferrari.
While his beautiful and fast cars quickly gained a reputation for excellence, Enzo maintained a famous distaste for his customers, most of whom he felt were buying his cars for the prestige and not the performance.
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