Ferrari is the world's top sports car and racing car manufacturer. It was founded by Enzo Ferrari in 1929 and is headquartered in Maranello, near Modena, Italy. Initially, Ferrari was primarily a sponsor of racing drivers and a manufacturer of racing cars, but in 1947 it began to produce cars independently. Ferrari is part of FIAT, one of the world's top ten car manufacturing companies, but operates independently of FIAT. Ferrari's cars are mostly handmade, so production is very low, and the best sales in Ferrari's history were only 7,195 units in 2011.