Ferrari only produces around 10k cars per year. But who hasn't heard of Ferrari?
When Enzo Ferrari started his namesake sportscar marque somewhere toward the middle of last century, it was little more than a means to fund his racing aspirations.
Yet today, the Italian manufacturer has reached a level of global fame unparalleled in the world of exclusive niche sportscar-makers, with road cars like the Ferrari 488 GTB and 812 Superfast adorning posters hanging in countless bedrooms around the world. As a result, for the second year in a row, Ferrari has been named the world's strongest brand by Brand Finance. The title serves as recognition of the estimated net economic benefit of licensing the brand - in essence, how much money licensing the Ferrari trademark could generate.
Ferrari rose to the top of Brand Finance's list with a Brand Strength Index score of 94.1 out of 100, showing stronger performance than the competition "on the basis of [its] efficacy... on intangible measures," Brand Finance says. In other words, it's not necessarily Ferrari's product or manufacturing that's being recognized, but rather, its estimated strength as a name.
Brand Finance estimates that today, the Ferrari brand is worth some $9.1 billion USD, with year-on-year growth of about 9 percent. And, the brand consultancy notes, Ferrari was one of only twelve brands across all industries to receive a AAA+ rating in 2020.
Ferrari's topping the list makes a lot of sense when you consider how outsize its fame is relative to its annual production. Most every child in America will have heard of Ferrari by the time they turn eight, yet the company only turns out somewhere around 10,000 cars per year, and seeing one on the road is a relatively rare occurrence.
As a matter of fact, we wouldn't be surprised if Ferrari made most of its money not from selling sportscars, but from selling merchandise and licensing its name to other companies. The prancing horse might well be a bigger asset than the high-performance machines it adorns.