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Ferrari named world's most powerful brand

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Ferrari named world's most powerful brand
Ferrari has been named the world's most powerful brand. Photo:Naotake Murayama
09:40 CET+01:00
Italy's famous sports car maker Ferrari has fended off competition from the likes of Google, Rolex and Coca Cola to be named the world's “most powerful brand”.

The company, which has been making legendary sports cars since 1947, was granted the accolade by Brand Finance, a British brand consultancy firm.

It was commended for its “desirability, loyalty and consumer sentiment to visual identity, online presence and employee satisfaction.”

The company’s famous prancing horse logo on a yellow badge is “instantly recognizable the world over, even where paved roads have yet to reach,” David Haigh, the chief executive of Brand Finance, said in a statement.

Click here for a look at some of Ferrari's most famous sports car models.

Haigh added: “In its home country and among its many admirers worldwide Ferrari inspires more than just brand loyalty, more of a cultish, even quasi-religious devotion, its brand power is indisputable.”

Ferrari also announced on Tuesday a five percent boost in net profit to €2.3 billion, despite a five percent fall in car sales. 

The company was founded by Enzo Ferrari in 1929; it sponsored and manufactured race cars before producing road cars from 1947.

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