Farrier retooled as carmaker (7)

I believe the answer is:

ferrari

I'm a little stuck... Click here to teach me more about this clue!

'carmaker' is the definition.
I can't judge whether this definition defines the answer.

'farrier retooled' is the wordplay.
'farrier' anagrams to 'FERRARI'.
But, I'm not clear how this is indicated.

'as' is the link.

Can you help me to learn more?

(Other definitions for ferrari that I've seen before include "Italian sports car" , "Italian racing car company" , "Type of racing car" , "Sports car brand" .)

I've seen this clue in the Sydney Morning Herald.

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