ITALIAN luxury sports car manufacturer Ferrari has found a new home in the Philippines, and it is called Velocità Motors Inc. (VMI), under the San Miguel Corp (SMC) umbrella.

Ferrari's Philippine relaunch was held on Sept. 1, 2023, and was graced by no less than Ferrari Far East and Middle East president, Dieter Knechtel, who welcomed Velocità to the Ferrari family as its new exclusive importer and distributor. In his opening remarks, Knechtel mentioned that Ferrari believes that the Philippines is an important market for its future growth in the region and that VMI will be able to deliver the ownership experience associated with the exclusive brand. He also expressed his confidence in Ferrari's continued growth, especially under the leadership of illustrious car enthusiast and VMI Chairman and President Ramon S. Ang, who also heads SMC as president and chief executive officer.

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