Scuderia Ferrari S.p.A. is the racing division of luxury Italian auto manufacturer Ferrari and the racing team that competes in Formula One racing. The team is also known by the nickname "The Prancing Horse", in reference to their logo. It is the oldest surviving and most successful Formula One team, having competed in every world championship since the 1950 Formula One season.[6] The team was founded by Enzo Ferrari, initially to race cars produced by Alfa Romeo. However, by 1947 Ferrari had begun building its own cars. Among its important achievements outside Formula One are winning the World Sportscar Championship, 24 Hours of Le Mans, 24 Hours of Spa, 24 Hours of Daytona, 12 Hours of Sebring, Bathurst 12 Hour, races for Grand tourer cars and racing on road courses of the Targa Florio, the Mille Miglia and the Carrera Panamericana. The team is also known for its passionate support base, known as the tifosi. The Italian Grand Prix at Monza is regarded as the team's home race.