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.The Scuderia Ferrari started sponsoring pilots and cars of Alfa Romeo and Fiat. The company began producing series cars in the year 1947. It became Ferrari S.A. whenh in 1969 the Fiat Group became part of the Board of Directors and became a shareholder of the company. Currently the main shareholder of the Italian company is Fiat Group, with 90%, 5% of the shares was bought in 2005 by an UAE company, and the rest belongs to Piero Ferrari, son of Enzo. The company is based in Maranello, near Bologna and Modena, Italy. In 2005 Ferrari sold 5409 units, with a sales increase of 8.7%, with a turnover of 1,500 million euros.
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