As of May 2023 Ferrari is also one of the largest car manufacturers by market capitalisation, with a value of approximately US$52 billion. Owing to a combination of its cars, enthusiast culture, and successful licensing deals, in 2019 Ferrari was labelled the world's strongest brand by the financial consultency Brand Finance. Many early Ferraris, dating to the 1950s and 1960s, count among the most expensive cars ever sold at auction. The company currently offers a large model range which includes several supercars, grand tourers, and one SUV. It was spun off from Fiat's successor entity, Fiat Chrysler Automobiles, in 2016. Ferrari became a public company in 1960, and from 1963 to 2014 it was a subsidiary of Fiat S.p.A. It adopted its current name in 1945, and began to produce its current line of road cars in 1947. Founded in 1939 by Enzo Ferrari (1898–1988), the company built its first car, a sports racing car, in 1940. ( / f ə ˈ r ɑːr i/ Italian: ) is an Italian luxury sports car manufacturer based in Maranello, Italy.
