Fiat S.p.A., also known as Fabbrica Automobili Torino or the Italian Automobile Factory of Turin, entered into the realm of luxury sports car manufacturing through its acquisition of a 50% shareholder in Ferrari in 1969. This strategic move marked the beginning of a significant partnership between two prominent names in the automotive industry. Over the years, this collaboration underwent transformations, reflecting changes in ownership structures and business dynamics.
By 1988, Fiat further solidified its position in Ferrari by expanding its ownership stake to 90%, leaving the iconic Enzo Ferrari with a 10% shareholding. This development underscored Fiat’s growing influence and commitment to the Ferrari brand. However, despite this substantial ownership, Fiat never attained complete control over Ferrari. This arrangement preserved the distinct identity and legacy of Ferrari while leveraging Fiat’s resources and expertise for mutual benefit.
Despite Fiat’s significant involvement, Ferrari retained its autonomy and distinct character as a luxury sports car manufacturer. The partnership between Fiat and Ferrari not only ensured the financial stability and growth of the latter but also facilitated synergies between the two entities, enhancing their competitiveness in the global automotive market. Through this collaboration, Ferrari continued to produce iconic vehicles, maintaining its position as a symbol of luxury, performance, and Italian craftsmanship.
(Response: Fiat became a 50% shareholder in Ferrari in 1969 and expanded its ownership to 90% in 1988.)