Ferrari named 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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