Ferrari Cars: The Story. The Ferrari Automobile Company is a manufacturing company based in Maranello, Italy. The company was founded in 1929 by Enzo Ferrari, and was originally known as Scuderia Ferrari. Scuderia Ferrari first manufactured race cars, but eventually began producing street-legal cars starting in 1947. Ferrari S.p.A. is currently one of the most successful sports car manufacturers in the world.The first road car by Ferrari was the 125 Sport. Throughout the 1950s, Enzo Ferrari’s fast cars developed a reputation for excellence. Enzo Ferrari felt that many of his customers bought his vehicles for prestige instead of performance, causing him to develop quite a distaste for Ferrari customers.Ferrari company founder Enzo Ferrari passed away in 1988, and the Ferrari brand quickly became a legend. The value of all Ferrari vehicles, both used and new, rose dramatically. In 2002, Enzo, the fastest model to date, was introduced by Ferrari in honor of its founder. The cost of each Enzo model was $1.8 million. In 2009, a Ferrari 250 Testa Rossa was sold for a record setting $12.1 million.