COMPANY PROFILE -Ferrari
Business Sector :Automobile
Operating Geography :Italy, Europe, Global
About Ferrari :
Ferrari was founded by Enzo Ferrari in 1939 and is one of the world’s leading luxury brands, focused on the design, engineering, production and sale of the world’s most recognizable luxury performance sports cars. Their brand symbolizes exclusivity, innovation, state-of-the-art sporting performance and Italian design and engineering heritage. Its name and history and the image enjoyed by their cars are closely associated with our Formula 1 racing team, Scuderia Ferrari, the most successful team in Formula 1 history. From the inaugural year of Formula 1 in 1950 through the present, Scuderia Ferrari has won 238 Grand Prix races, 16 Constructor World titles and 15 Drivers’ World titles. They design, engineer and produce cars in their production facility in Maranello, Italy, and sell them in over 60 countries worldwide through a network of 166 authorized dealers. The current product range includes five sports cars, four GT cars and two special series cars, as well as our Icona cars, introduced in September 2018 with the Ferrari Monza SP1 and SP2. They target clients seeking high performance cars with distinctive design and state of the art technology.
Ferrari Revenue :
€M 3,766 - FY ended 31 December 2019 (YoY growth 10%)
€M 3,420 - FY ended 31 December 2018
Competitive Analysis of Ferrari
The SWOT analysis for Ferrari is presented below:
Strengths | Weaknesses |
1. Strong research and development team with continuous focus on innovation
2. Huge product portfolio and strong brand equity
3. Extremely strong presence in the racing world
4. Huge portfolio of patents and other intellectual property
5. Increasing its commitment to sustainability
| 1. Low volume strategy may limit potential profits
2. Higher dependence on one production facility with a location disadvantage
3. Limited number of suppliers, many of which are single source suppliers
|
Opportunities | Threats |
1. Technological Advancement and developing hybrid cars
2. Expanding to new emerging economies and developing nations
3. Enlargement of customer base and leveraging the brand image
| 1. Highly competitive market
2. Stringent Environmental regulations
3. Increasing cost of developing new technology
4. Volatile demand for luxury performance goods
|
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Detailed SWOT Analysis of Ferrari
Strength
1. Strong research and development team with continuous focus on innovation: Their research and development efforts take into account the three defining dimensions of Ferrari cars; performance; versatility and comfort; and driving emotions which is one of their major competencies in the market. Innovation drives products and processes, which represents one of the key differentiating factors for Ferrari. This is why they are focused on developing new technologies for which they have implemented several programs to encourage innovation. For example – Ferrari has established partnerships with universities and research centers to convert the most advanced theoretical researches, especially in technology, engineering and computer science, into practical solutions for our industrial processes. Technological breakthroughs are further enhanced through design which is one of the most fundamental and distinctive aspect of Ferrari products. So a team of designers, modelers and engineers work together to create car bodies that incorporates the most innovative aerodynamic solutions in the sleek and powerful lines typical of their cars. They have also established a Ferrari Design Centre with the objective of improving control over the entire design process and ensuring long-term continuity of the Ferrari style.
2. Huge product portfolio and strong brand equity: Ferrari believes that their cars are the epitome of performance, luxury and styling and the same has been their brand image throughout the years. Ferrari is looked upon as a cult brand and possesses strong brand equity. Their current product range as of 2019 is comprised of five sports cars, four GT cars, and two special series cars and Icona car. They also produce limited edition hyper cars, fuori serie and one-off cars. Ferrari engage in brand development and protection activities through licensing contracts with selected partners, retail activities through a chain of franchised or directly managed stores, licensed theme parks and the development of a line of apparel and accessories sold exclusively in their monobrand stores and on their website. As one of the world’s most recognized premium luxury brands, they are selectively expanding the presence of the Ferrari brand in attractive and growing lifestyle categories consistent with their image, including sportswear, watches, accessories, consumer electronics and theme parks which will enhance the brand experience of their loyal clients and Ferrari enthusiasts.
The remaining section of “Strength” is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE/PESTEL analysis of Ferrari is presented below:
Political | Economical |
1. Political stability and government spending
2. Trade regulations and industrial policy
3. Taxation Policy and change in tax rates
| 1. Global economic or business conditions
2. Fluctuations in the inflation rate
3. Exchange rates & currency fluctuations
|
Social | Technological |
1. Changing consumer preferences in luxury auto segment
2. Compliance with labour rights and employee safety
| 1. Cyber security and associated risks
2. Technological Advancement and increasing focus on hybrid cars
|
Legal | Environmental |
1. Protection of Intellectual Property Rights
2. Regulatory compliances and restrictions in the Automobiles Industry
| 1. Complying with Environmental regulations
2. Increasing focus towards renewable energy and reduction of vehicle emissions
3. Waste management and disposal
|
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Detailed Pestle Analysis of Ferrari
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Complying with the environmental regulations: Ferrari’s business operations are greatly influenced by the environmental rules and regulations which are designed to protect the environment. Their facilities and operations are subject to numerous domestic and international laws and regulations pertaining to environment and failure to comply with such regulations can cause an adverse impact on the business operations and financials. So Ferrari has put certain efforts aimed at minimizing the impact of their activities on the environment, particularly in relation to the energy consumption of production facilities. They have invested heavily to minimize their environmental impact since 2001, when the company was given the ISO 14001 certification for the plants in Maranello and Modena.
2. Increasing focus towards renewable energy and reduction of vehicle emissions: There is an increasing trend of focusing renewable energy in many geographies and industries in order to safeguard the resources. Moreover, government is making stringent regulations for the car manufactures to take initiatives to reduce vehicle emissions. Such environmental initiatives involve huge capital investment for Ferrari and failure to abide by such laws can lead to substantial fines. To address this Ferrari has been committed in reducing CO2 emissions. They also introduced a water-based painting process was introduced in 2004 with the aim of reducing VOC emissions. Over the years, the Ferrari has strived to lower its energy consumption and to minimize its environmental impact, adopting innovative solutions and using renewable energy sources for its manufacturing facilities. In 2008, they installed their first solar panels and subsequently increased capacity in 2011 and 2015. Ferrari has been continuously focusing on research and development for improving the technology in the cars to reduce emissions and fuel consumption.
3. Waste management and disposal: There are numerous laws applicable with respect of disposal of waste materials form the car manufacturing facilities to avoid any negative impact to the surrounding environment. Ferrari has always focussed towards waste management by adopting innovative solutions and advanced technical processes to minimize waste and negative environmental impact such as the reuse of production scraps in the manufacturing process. They also treat the wastewater in accordance with all applicable laws and regulations. All of their wastewater from the plants is always monitored and channelled in the public sewage system and not directly into water bodies. The water used in some of the industrial processes (such as washing solutions or paint washing), before its discharge in the public sewer system, is treated by an industrial water treatment plant where it undergoes the necessary chemical, physical, and biological treatments.
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in Ferrari SWOT & PESTLE Analysis Report
1. Ferrari Annual report 2019 - https://corporate.ferrari.com/sites/ferrari15ipo/files/ferrari_-_annual_report_2019.pdf
2. Ferrari Annual report 2018 - https://corporate.ferrari.com/en/2018-annual-report
3. Ferrari Interim Report 2020 - https://corporate.ferrari.com/sites/ferrari15ipo/files/ferrari_interim_report_at_and_for_the_three_and_nine_months_ended_september_30_2020.pdf
4. Ferrari company profile - https://www.bloomberg.com/profile/company/RACE:US
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Ferrari SWOT and PESTLE analysis has been conducted by Saurav Mansingka and reviewed by senior analysts from Barakaat Consulting.
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