Ferrari CEO Benedetto Vigna Offers F1 Update as Latest Financial Statement is Out

Published 11/03/2021, 11:08 AM EDT
Formula One F1 – United States Grand Prix – Circuit of the Americas, Austin, Texas, U.S. – October 23, 2021 Ferrari’s Charles Leclerc and Ferrari’s Carlos Sainz Jr. in action during qualifying REUTERS/Brian Snyder


After years of bad luck, now it’s time for Ferrari to step into the spotlight again. The Italian team is not only doing well on the F1 tracks but also strengthening their empire off the track as well. Benedetto Vigna revealed that the marque has had extraordinary growth lately, one billion euros to put a number on it. Vigna also talked about the effect of this tally on Ferrari’s F1 team.

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In a recent call with analysts, Vigna, who only recently took over as CEO of the company, shared some big news. Discussing the growth of the coming year, Ferrari stars 2022 with a net amount of 1.05 billion euros in its pocket; a result of a soaring stock market position.

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Vigna discussed his plans to take the Prancing Horses down the electrical route. “I believe that Ferrari will once again stand out for its creativity and ability to apply and interpret the wide range of technologies of the future…” 

In the spirit of innovation, the CEO announced that the first fully electric Ferrari will arrive in 2025. Further, a new “iconic” model will hit the streets in November; bringing the machine to the world at Ferrari Finali Mondiali at Mugello.

What does this mean for Ferrari F1?

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Ferrari’s innovation in F1 has been just as great. Reports from Maranello regarding the 2022 car have only been positive. Further, the Prancing Horses have a good chance of snatching the P3 position from their rivals, McLaren. Now, Ferrari is headed to Mexico, a track that favors their layout.

Formula One F1 – Russian Grand Prix – Sochi Autodrom, Sochi, Russia – September 24, 2021 Ferrari’s Charles Leclerc in action during practice REUTERS/Anton Vaganov

The success of the company also means success for its F1 division. Vigna also looks forward to the remainder of the season, sure that the Red cars will emerge successfully. ” In F1 even in the last few races, we have seen some positive signs of progress. Racing on the track has always been deeply in the DNA of Ferrari history. So it is today, so it will be in the future.”

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Ferrari’s prime objective in F1 is the P3 position on the board. The Big Two of the sport are at it again, and the gap between them is closing. Will Ferrari’s C2 duo and the reinforced cars trample their Papaya rivals?

Watch this story: Ferrari Strategy Fails We Will Never Forget

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Shreya Sanjeev

640 articles

Shreya Sanjeev is an F1 author at EssentiallySports. Having attained a journalism degree from St Xavier's College, she finds comfort in the sound of her keyboard while typing and excitement in the sound of F1 cars speeding on a track. A street circuit and Daniel Ricciardo fan through and through, Shreya claims the 2018 Monaco GP to be one of her favorite races of all time.

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