In 1929, Enzo Ferrari founded an Italian Sports car manufacturing company in Modena but later shifted headquarters to Maranello, Italy. Auto Avio Costruzioni was the first car to be built by Enzo Ferrari in the year 1940. Before moving into producing street-legal vehicles, the company only manufactured sports cars and sponsored drivers.
In any business, there are several companies & brands which compete with each other by offering similar products & services.
For any company to thrive, it is not only important for them to improve their own products, but to also look at what their competitor is offering.
Below we look at the top 10 competitors of Ferrari.
Bayerische Motoren Werke AG or BMW as it is known around the world, is a German luxury automobile manufacturer. The company was established in 1916, with headquarters at Munich, Germany. The company started out as a motorcycle and heavy duty aircraft engines manufacturer, later diversifying into automobiles as well.
Audi a German brand is rooted steadfastly in the luxury car market since 1932, with a vision to become a premium brand worldwide. Over the period of time, Audi has established itself as a trustworthy and coveted brand in the automobile category. Audi automobile manufacturer from Germany focused in designing and manufacturing cars with a huge market of the luxury vehicles around the world.
3. Mercedes Benz:
Mercedes Benz is a German automobile manufacturer that deals in luxury cars, buses and trucks. Its headquarters is in Stuttgart, Germany. Founded in 1926 by Karl Benz and Gottlieb Daimler, Mercedes-Benz has come a long way in establishing itself as one of the top most luxury brands in the world.
Porsche AG which is a Germany based automobile manufacturing company that is specialized in making very high speed vehicles such as SUVs, sedan and sport cars. Porsche AG is owned by Volkswagen AG where they have 50% stake in it. It was founded in the year 1931 by Ferdinand Porsche and has services spread across the globe.
Jaguar is a luxury automaker based in Coventry, England. It has its base in England but was taken over by Tata motors in 2008. Jaguar manufactures cars high end cars for British dignitaries; also it has royal warrants from Queen Elizabeth and Prince Charles.
6. Aston Martin:
Aston Martin was founded in 1913 and is a well-known luxury car brand. Aston Martin cars are both luxurious and sporty. The brand has only sold around 70,000 cars in its lifetime and that is what makes it so exclusive for its customers.
Bentley Motors is a British company which is known for production of its luxurious and premium cars. Bentley which is a subsidiary of Volkswagen works on the car model from the basic designing then using scientific techniques to manufacture the complete luxurious car which is finally delivered to the respective places. Bentley delivers the car almost in all parts of the world by establishing a franchising network.
One of the most popular names when it comes to luxury cars, Lamborghini is a company from the automotive industry that deals with the manufacturing and distribution of luxury vehicles. It was founded in the year 1963 by Ferruccio Lamborghini with the prime objective of producing a car which could be used to tour grandly and compete with the likes of Ferrari, which was extremely popular back then. Lamborghini, at present is owned by the Volkswagen group through its subsidiary Audi.
Lexus car is a luxury car brand which is headquartered in Japan, and has a global footprint. Lexus is known in over 90 countries worldwide and is ranked among the top card worldwide in market value. Having its headquarters in Japan, it has the largest customer base there.
Maserati established in early 1914, as a manufacturer of motorcycle and aeroplane engines before moving onto the category of cars, Maserati has for many years been in the top league of the car manufacturers across the world. The company tagline is Luxury, sports and style cast in exclusive cars. The output capacity of the company is immense, it is known to produce 75,000 vehicles annually across the globe.
To conclude, the above article highlights the various competitors which compete with Ferrari. This understanding helps to evaluate the various external business factors for any company.
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