When we talk about the car for speed, we can’t overlook the name Ferrari. The Italian automotive is one of the luxury fast car company in the world producing an average of 10,000 cars yearly, this can be compared to general Motors which produces over 7 million cars yearly. If you will be sincere, you have once in your lifetime admired a Ferrari as it is portable and filled with grandeur and style. The Yellow background with a black horse logo and the name Ferrari is a brand that commands respect.
Started in the 1929 by Enzo Ferrari, the cars have been produced for sport/racing and the company has been a part of formula 1 racing since 1950. 50% of the company was bought by FIAT in 1969 and increased its stake in 1988 to 90% but in 2016, the company sold Ferrari to another publicly traded company called RACE.
The company has been recognized as a brand for producing expensive, fast, sleek and eye-catchy cars but recently, the Ferrari brand is now associated with fashion, merchandise, and theme parks. Unlike Toyota, which is a car for the public, Ferrari is known for high income earners, with 6 zeros.
The company has been working on reputations so as not to reduce the strength of the brand and at such, the company has been very careful to dish out cars to the public with the aim of exclusivity. The company sold up to 10,000 cars because it decided to lift the 7000 production limit. The company has then decided to improve on the company brand by getting involved in Merchandise.
Ferrari and Lamborghini have been having a rivalry although, Ferrari still produces more cars than Lamborghini, a lot of people still do have preferences on both cars. Although the rivalry started with the founders of the two cars, it has become a part of the company now to produce a better car than its competitor.