Ferrari is an Italian luxury sports car manufacturer based in Maranello, Italy that was founded in 1929. It is best known for making high-performance sports cars and has raced successfully in Grand Prix and Formula 1. Ferrari uses advanced technology and information systems in its Formula 1 racing division to gain competitive advantages through telemetry, engine and chassis design, and aerodynamics. It outsources some engine development work to companies like Tata Consultancy Services while its main competitors in the luxury sports car market include Lamborghini, Porsche, and Aston Martin.