Enzo Ferrari founded Scuderia Ferrari in 1929 primarily to provide an outlet for racing. The legendary "prancing horse" has been a cornerstone of Formula One racing since the beginning of the World Championship series in the 1950s. Recently Ferrari won F1 World Championships in 1999, 2000, 2001, 2002, 2003 and 2004. Fiat S.p.A. owns 56 percent of Ferrari, with production facilities in Maranello and Modena, Italy. In 2004 Ferrari celebrated 50 years of road car sales in North America.
