Ferrari (NYSE:RACE) Turns 70 anni in Style at Maranello
This is the Scuderia’s 70th anniversary, and Ferraris are out in force in Italy this weekend to celebrate.
Friday, about 500 sports cars gathered in Milan for the motor to Modena, where founder Enzo Ferrari was born, and end with an exclusive party in Maranello, where Ferraris have been made since Y 1947.
“Ferrari is a mythical brand, it has had a fabulous track record in speed and represents the pinnacle of the sports car,” automotive historian and Ferrari enthusiast Patrice Verges.
For luxury motor car fanatics, there is something magic about Ferraris and their distinctive sound, it is all about the sound, style and speed.
I learned about them in Y 1953 from an article in Esquire Magazine, bought my 1st one in Y 1967 and have been driving them ever since.
Founder, Enzo Ferrari was a race car driver, and in Y 1929 he formed the Scuderia Ferrari where he and his tea, prepared and fielded Alfa Romeo racing cars for the factory
And in Y 1947 that the 1st badged Ferrari, s/n 125S, was designed by Ferrari, produced at the Maranello factory, wearing the Prancing Black Stallion Yellow background, bordered by Red, Green and White, the colors of the Italian flag.
The Stallion is a tribute to Francesco Baracca, a World War I Italian air force Ace who had a a prancing horse on the side of his plane.
The Senore Baracca’s mother suggested Senore Ferrari use it as a good luck symbol, and he added the Yellow background, the color of his hometown of Modena.
The Ferraris took the racing and luxury sports car world by storm.
These cars were then, and still are, reserved for the few willing, ready and able to shell out at least $202,000 to 2,400,000 for an entry level to a Limited or Special Edition example.
Ferrari’s CEO, Sergio Marchionne said last year the waiting list for a Ferrari 488 was 3 years.
Ferrari was spun-off from Fiat Chrysler (NYSE:FCAU) in Y 2015 in an IPO that is listed in Milan and New York where is stock is up over 120% in the past year.
Maserati and Alfa Romeo are Fiat-Chrysler’s entry level luxury brands.
Carlo Alberto Carnevale Maffe, Professor of Business Strategy at Milan’s Bocconi University writes that Ferrari’s success lies in its ability to combine “industrial craftsmanship of the highest quality” with “an extremely close dialogue with its customers,”
Senore Carnevale Maffe is of the opinion that Ferraris have to be “earned”.
“You have to belong to the club. There are so many social climbers, nouveaux riche who want to be admitted but they are looked at with some suspicion,” he wrote.
When I bought my 1st Ferrari, a 275GTS (1967 on the beach at Carmel, CA) it was the top of the line sportscar for enthusiasts, and it required constant and expert attention to keep a 3 carb, dual cam V-12 tuned.
Today, Ferrari is a mark of the super wealthy and wealthy upper middle class who buy the cars as The symbol of success and taste.
The most expensive car ever sold at public auction is a 1957 Ferrari 335 S Scaglietti, hammered in Y 2016 in Paris for about $38-M, plus the fees.
Private treaty transactions are rumored at up to $75-M
Ferrari the oldest and most successful F1 Team and for its Tsfosi is the King.
After 68 seasons, the Scuderia holds an impressive track record of 228 Grand Prix victories, 16 Most Constructors’ Championships and 15 Most Drivers’ Championships.
“Ferrari is not a car factory it is a dream factory.”
|NYSE:RACE||109.36||8 September 2017||0.77||110.45||110.54||108.96||1,406,400|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Bullish (0.30)||Neutral (0.15)||Neutral (0.16)||Very Bullish (0.58)|
Have a terrific weekend.