Overview

• Chairman John Elkann and CEO Benedetto Vigna told investors they are personally committed to restoring F1 success, with Vigna declaring the team “has to win.”
• Ferrari shares fell roughly 15% in New York and more than 14% in Milan following the presentation, marking the steepest single-day drop since the company’s listings.
• The team remains winless in 2025 and is the only outfit in the top four without a victory, as Charles Leclerc publicly questioned the SF-25’s progress after Singapore.
• Italian media reported internal friction, including engineers frustrated by Leclerc’s blunt comments and a heated exchange involving team principal Frédéric Vasseur, which Ferrari has not publicly confirmed.
• Speculative reports linked Ferrari with interest in Christian Horner and noted pressure on Vasseur, while some politicians and fans called for leadership change; none of these potential moves are confirmed.