Ferrari is an iconic brand that is admired around the globe. What has contributed most to its legendary status – technological innovation, outstanding craftsmanship or performance on the track?
Ferrari is deeply rooted in racing. The story began almost 80 years ago with Enzo Ferrari, who was really fond of racing. To finance his passion, he started engineering and producing cars using the same technology as in racing but with the addition of beautiful design and amazing craftsmanship. I don’t think there is just one single element that has contributed to the success of Ferrari – it is a combination of strengths.
Your visionary founder once said: “Those who come after me have accepted a very simple inheritance: To keep alive the will to progress pursued in the past.” How do you maintain Enzo Ferrari’s remarkable spirit of innovation?
He also said that people are the most important component of a firm, followed by machinery and walls. People are at the core of Ferrari’s success. Our people are very passionate and engaged in terms of continuing the company’s incredible success story. And we have six simple guiding principles to help us move in the direction defined by Enzo Ferrari. They include the need to be focused, to collaborate and to learn continuously. We also need to have a strong will to progress and to be a fearless organisation where people talk to each other if something is not working and discuss what can be done better. That is the spirit that drives us into the future.
The first-ever Ferrari left the workshop in Maranello in 1947. How do you ensure your brand remains relevant over time in the face of developments such as the growing focus on ESG?
Ferrari is all about emotions but we recognise that emotions cannot come at any price and that we need to consider our impact on the environment, the community and our people. We are therefore working hard to reach carbon neutrality by 2030, for example. In terms of social impact, we have a number of initiatives to benefit the people and communities close to Maranello, such as our “Bosco Ferrari” forestry initiative or our “Formula Benessere” and “Formula Uomo” wellbeing programmes for employees and their families.
You are currently developing performance cars incorporating electric, hybrid and other technologies. Will it be possible to retain the “emotion” of the combustion engine in Ferraris of the future – and do you expect Ferraristi to embrace this change?
That is the challenge we face. We had a similar challenge in 2018 when we were about to launch the first hybrid car. No one knew whether our clients would accept a hybrid engine after 75 years of internal combustion engines. We are now seeking to add a different sort of emotion for people who want the experience of driving a Ferrari. Our new model will be a Ferrari with an electric power unit, not an electric car with a Ferrari badge.
AI is being used increasingly in the automotive industry. However, your CEO Benedetto Vigna once said: “Ferrari follows the principle that science and technology must always be controlled by humankind, and not vice versa”. What is your view on the use of AI?
I think it has certain interesting applications – such as in quality control or when analysing the statistical correlation between different technical aspects of our sports cars. It could even be used for documentation purposes. However, I am much more sceptical about the use of AI when engineering and crafting our models. Where driving safety is concerned, I think it is much better for those aspects to be entirely under human control.
Ferrari posted a record net profit of over EUR 1.5 billion for 2024. With profit margins far surpassing those of traditional car manufacturers, what is the secret to Ferrari’s enduring business success?
As a luxury company, I think it is ultimately the quality and content of our products as well as our clients’ passion for Ferrari. For us, achieving economies of scale is not important. It is the technological elements and beautiful craftsmanship that drive our products and our clients’ emotions. And those emotions also influence our price positioning and margins.
At a time when diversity, equity and inclusion feature high on the HR agenda, which steps are you taking to attract more female talent in a traditionally male-dominated industry?
Ferrari received certification from the Equal Salary Foundation three years ago. We have also just obtained the UNI/PDR 125 certification for gender equality. This is key if we want to attract both female and male employees. Having passion, knowledge, competencies and an ability to collaborate within a team are essential in order to work for Ferrari.
What would your younger self have said if he was told that he would one day be an executive at Ferrari?
I was born in Turin, which was well known as the home of car-making in Italy. When I was younger, I first wanted to be an engineer and I then fell in love with classics – with philosophy – and maths. I ended up studying economics. To translate theory into reality, I pursued a career in business but I never imagined that I would become an executive of Ferrari. You could say the reality surpassed the fantasy.
What is the one luxury item other than a Ferrari that you could not live without?
Perhaps a watch because it is a blend of technology and beautiful design. However, it lacks the emotion of driving. That is what makes all the difference.
