Happy 70th anniversary to the company with that black horse logo

Really, now. Who doesn't want a Ferrari? But you can't just walk into a showroom and buy one of these beauties. There is a long waiting list. As is fitting of the car that won - get this - 226 Grand Prix races

It was a sunny Sunday. On May 11, 1947, the first car produced and built by Ferrari debuted and ran in a race at the Piacenza racing circuit. The Ferrari 125 S (S for sport) was the first car to use the famous logo of the black prancing horse on a yellow background, with the Italian flag colours emblazoned across the top.

Ferrari, the company, came into existence in 1929 when Enzo Ferrari formed Scuderia Ferrari in Modena, Italy, his native city. But he worked for Alfa Romeo designing and fixing its Grand Prix cars. Enzo worked for them till 1939 when he decided to walk a separate track on his own.

He started working on prototypes and innovations in motors and machine tools, not only for cars, but also for aircraft - a common activity back in the day for car companies in Europe - as the military industry demanded a lot of work. In 1943 the Ferrari factory was moved 14 km to the south, to Maranello, where it has remained since.

The 125S was designed by Gioacchino Colombo with the goal of creating a V12 engine-powered car. At the time, the vastly superior V12 engine was unique. It was an immediate success, a money spinner for Ferrari that subsequently gave rise to a succession of sport, GT and road cars. Since then Ferrari has continued to dominate the racing space, winning 226 Grand Prix races, making it the most successful company in Formula 1 history.

Enzo was never interested in creating road cars, but he understood the business behind it and for many years the business of road cars gave him enough money to invest in his race cars.

There was one crucial factor in Ferrari's DNA - innovation -that made it the top automotive brand. The company mission statement is to "win on both road and track". This symbiotic relationship enabled the company to generate $3,400 million in net revenues in 2016, with total shipments of 8,014 units.

Ferrari's secret ingredient in its success strategy is to produce and distribute vehicles in extremely limited numbers. This creates a unique relationship with the end-user. To make a car from its initial development to production and delivery could take more than 30 months. So if buying one of these jewels is on your mind, it's best you put your name on that extensive waiting list as fast as possible.

Enzo never thought about building a great brand. What he had in mind was to create the fastest car, the best, and he concentrated his energies on that dream. The story of the brand began when Enzo ran as a pilot on El Circuito del Savio, one of the most competitive circuits at the time. One of the sponsors of the race was the Count Enrico Baracca, who after seeing the great performance of Enzo and surprising everyone, invited the driver to his house. The countess was present too and, as the story goes, moved by Enzo's spirit, suggested to him to use the coat of arms of the family - a black prancing horse, in his new company of automobiles, predicting good luck to him.

Francesco Baracca, the scion of the Baracca family had used the image of the family shield on his combat airplane while fighting in WWI. Unfortunately, he died in battle.

oscar@khaleejtimes.com