Chrishma1)(N134)The history of Ferrari

 

 In this video, we will talk about The history of Ferrari

Enzo Ferrari decided to pursue racing in 1908, at the age of ten: to this end, he eventually began a career as a racing driver in 1919. During the 1920s he worked for Alfa Romeo, both as a driver in various local races and as an employee in its Milan sales depot. In 1929, though, he broke from this line of work to found and manage his own racing team: Scuderia Ferrari. Conceived as an outfit for gentleman drivers and other amateurs, the team was founded through a million-lira loan from a local bank, with additional backing from the wealthy amateur racer Mario Tadini, Augusto and Alfredo Caniato — two brothers in the textile industry — and the tire company Pirelli. It would be based out of Modena, Enzo's hometown.

1938–1945: Auto Avio Costruzioni

In their early years, Scuderia Ferrari enjoyed considerable independence from Alfa Romeo, owing both to their loose partnership and the physical distance between Modena and Milan. In 1937, though, Alfa Romeo began to reconsider this inefficient state of affairs, and at the end of the year, the company purchased 80% of Scuderia Ferrari's shares, rechristening them as a revived Alfa Corse. Enzo Ferrari remained the team's manager until a restructuring in 1939, in which he was laid off. After this, he used his capital — sourced from his savings, a hefty settlement, and the sale of his team two years prior — to start his own automotive company, Auto Avio Costruzioni. Ferrari's new company, the direct predecessor of the contemporary Ferrari S.p.A., could not be branded by his surname for another four years due to an agreement he had reached with Alfa Romeo.

In 1945, Auto Avio Costruzioni was renamed Auto Costruzioni Ferrari.

1947–1961 – The beginning

The first Ferrari-badged car was the 1947 125 Sport, powered by a 1.5 L V12 engine. On March 12, Enzo Ferrari took the car out for its first test drive on the open roads. Two examples debuted on 11 May 1947 at the Piacenza racing circuit, driven by Franco Cortese and Nino Farina. This was the first time a Ferrari-badged car was entered in a race.

In 1950, Ferrari fielded racing cars in the Monaco Grand Prix, the first World Championship event held there. José Froilán González won the first Grand Prix for Ferrari in 1951, and Alberto Ascari secured Ferrari's first World Drivers' Champions title in 1952, a task he would repeat the following season. In 1957 the company changed its name to Auto Costruzioni Ferrari. The same year, the Dino marque was introduced.

1961 – The great walkout

Enzo Ferrari's strong personality had served his company and racing team, Scuderia Ferrari, well for decades. Internal tensions reached a boiling point in November 1961. Long-time sales manager Girolamo Gardini had long chafed at the involvement of Enzo's wife, Laura, in the company. The two frequently argued, and their dispute became a crisis for the company when Gardini, together with manager Romolo Tavoni, chief engineer Carlo Chiti, experimental sports car development chief Giotto Bizzarrini, made an ultimatum to Ferrari, demanding the removal of his wife from the company in a letter.

1963–1967 – The United States' rivals

The big V8-powered AC Cobra (Shelby Cobra) challenged the Ferraris in the early 1960s. By 1963, Ford tried to buy Ferrari but no agreement was reached. Instead, the Ford GT40 ended the dominance of Ferrari P (the P standing for prototype) at the 24 Hours of Le Mans in 1966 when GT-40 Mark IIs finished 1-2-3. Ford dominated Le Mans again in 1967 in the Mark IV.

1969 – Fiat

Early in 1969, Fiat S.p.A. took a 50% stake in Ferrari. An immediate result was an increase in available investment funds, and work started at once on a factory extension intended to transfer production from Fiat's Turin plant of the Ferrari-engined Fiat Dino. The new model investment further up in the Ferrari range also received a boost.

1972–1973 – dominance, defeats, and fare-well

The 312 PB dominated the World Sportscar Championship in 1972 against a rival Alfa Romeo, as the Porsche factory did not compete after the rule changes, and Matra, as Equipe Matra Sports, focused on Le Mans only. In their home race, the French won, as Ferrari did not enter in 1972 due to insufficient reliability over 24 hours, in order not to blemish their otherwise perfect record in that season.

1974–1987 – Niki Lauda and the 1980s

Ferrari enjoyed a successful spell in Formula One in the 1970s, with Niki Lauda winning the World Championship in 1975 and 1977, and Jody Scheckter in 1979. In the 1980s, however, the team entered a period of crisis, culminating with the death of Gilles Villeneuve in Belgium in 1982 and a nearly-fatal accident for Didier Pironi in Germany the very same year.

1988 – The death of Enzo

Enzo Ferrari died in 1988, at the age of 90. The last new model he commissioned was the specialist F40. Fiat increased its stake in Ferrari to 90% after buying the shares of its founder. Former Sporting Director Luca Cordero di Montezemolo was appointed President in 1991.

1996 – champion Schumacher to Scuderia Ferrari

The hiring of Jean Todt as sporting director in 1993 and Michael Schumacher in 1996 triggered a comeback of the F1 team, with three wins in 1996, and close yet eventually losing challenges to the driver's championship in the years 1997 to 1999.

2000–2004 – Schumacher dominates Formula One

In an unprecedented and record-setting fashion, Schumacher and Ferrari dominated Formula One, winning the World Driver's Championship from 2000 through 2004 and the Constructors' Championship from 1999 through 2004.

2002–2010 – new shareholders

In June 2002, Fiat sold 34% of Ferrari to a Mediobanca-led consortium of banks for €775.2 million. The consortium comprised Commerzbank (who got a 10% stake for €228 million), Banca Popolare dell'Emilia Romagna (BPER Banca) (1.5%) and Compagnie Monégasque de Banque (CMB Monaco) (1%). Mediobanca retained a 21.5% stake.

In July 2005, Mediobanca sold 5% of Ferrari to Mubadala Development Company (now Mubadala Investment Company), an investment company wholly owned by the Government of Abu Dhabi. The deal saw Mubadala pay €114 million to purchase the five percent stake.

In November 2010, Fiat paid €122 million to buy back the last 5% stake owned by Mubadala Development. With this transaction, Fiat's stake in the luxury Italian car maker returned to 90%.

2014–2016 – The spin-off

In October 2014, Fiat Chrysler Automobiles (FCA) announced its intentions to separate Ferrari from the parent organization; as of the announcement FCA owned 90% of Ferrari.

2017 – Ferrari's 70th anniversary

Ferrari celebrated the 70th anniversary of its foundation in 2017.

2019 – Scuderia Ferrari's 90th anniversary

Ferrari celebrated the 90th anniversary of its Scuderia.

2022 – Ferrari 75th anniversary

Ferrari celebrated the 75th anniversary of its foundation in 2022 with the Ferrari Daytona SP3 and a special livery at the 2022 Italian Grand Prix.

·         Make sure to leave a comment.

Before You Go Please Hit the Like Button and Subscribe to My Channel.

Thanks for Watching.