Ferrari is named the world's most powerful brand

February 25, 2013 12:00 AM

Apple may have edged Samsung to become the world's most valuable company, but Ferrari tops both when it comes to power. The automaker was recently named as the most powerful brand in the world by the Brand Finance Global 500

Although it is a niche sports car company, Ferrari still managed to top the list of powerful brands. Its total revenue is significantly lower than other auto or technological conglomerates, but when factors such as average revenue per customer, brand loyalty and other costs are taken into account, the Italian manufacturer stands out from the pack. The Fiat-owned brand outperformed similar luxury automakers like BMW, Mercedes-Benz and Audi in addition to more economical, vehicle maintenance-friendly producers. 

Ferrari was also helped by a record financial year in 2012, as the company brought in $3.6 billion in revenue, Auto Evolution reports. 

"It's always a pleasure to top any list and still more so when the competition includes some of the world's most famous companies," said Luca di Montezemolo, chairman of the brand. "This achievement proves that even in very tough economic times, Italy can still offer the world businesses of excellence."

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