Ferrari’s 2022 Formula 1 season is paradoxical. Parallel plans coexist in a two-sided world. The first, bright, is that of the high hopes among the fans in a strong manner from the day of the presentation of the F1-75 up until lap 18 of the French Grand Prix when Charles Leclerc lost control of the car and ended up in the barriers while leading the race at the Paul Ricard circuit.
It is the historic moment that marked the beginning of the black period. Otherwise known as the second plan mentioned above; the dark side of the Moon that takes over and, above all, gives a definitive help to Max Verstappen who would win the second world title easily and without any worries.
There can be many reasons behind the technical involution of the Maranello team. The introduction of the Technical Directive 039, beyond the denials of Mattia Binotto, is one of these. But also the inability to develop the car which remained, basically, the same as the one seen during the pre-season testing session in the winter. That lack of progress which, over the months, has turned into a conscious choice.
It is precisely the team principal of the Scuderia who admitted that the technical department, at a certain point, decided to give way to the opponents and focus on 2023. A risky strategy that, over the years, has not paid off. It is no mystery, in fact, that the current season had to be one of redemption for the Maranello team. Which failed quite badly.
The plan of giving up on the current season and focusing everything on the following year is clearly the result of the vision of Ferrari’s top management. But is it an idea shared by who run Ferrari, not just the F1 sector, but rather those who manage it from an administrative, political, strategic and marketing point of view? Probably the answer must be affirmative because choices of this magnitude must necessarily be the result of an operational vision studied on several levels. But this does not mean that the owners should be satisfied with their achievements in the field of motorsport.
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“Although we have returned to being competitive, we cannot be satisfied with the results obtained. We will focus on the latest races and prepare in the best way for 2023.” – these were the comments made by Benedetto Vigna, CEO of Ferrari, during a videoconference which had as its main purpose the presentation of Ferrari’s financial results during the last quarter.
First of all, it should be noted that the financial results of the Italian company are brilliant. The quarterly report is very positive given that all the financial results indicators for the first three quarters are good. But it is in particular the last one to stand out. In fact, from July to September, Maranello delivered 3,188 cars to customers around the world, 15.9% more than in the same period of 2021. The stats for the net revenues are even better, increasing from 1,053 to 1,250 million in the period.
As a result, the gross margin rose to 435 million. An increase of 17.1% compared to the same quarter of 2021. In the first nine months of 2022, again, car deliveries reached 9,894 pieces. Net revenues increased by one fifth to 3,727 million.
These figures are definitely great for the Ferrari top management, but offer a not very encouraging trend for the fans of the Maranello team: there is no correlation between the results seen on the track and sales. The boom, in fact, comes just when Charles Leclerc and Carlos Sainz begin to suffer from reliability issues, giving up the world championship dream. This indicates that, paradoxically, a winning Ferrari is not necessary to keep the accounts in line with expectations. And that’s a bit of what recent history has showed us.
Clearly, in the long run, modest sporting results cannot be an effective and satisfying strategy. This is why Benedetto Vigna emphasizes that the last few races must be a training ground for 2023 to come back stronger in 2023. Which could be favored by Red Bull’s problems: to some extent, the Austrian side will have to suffer the effects of the 10% reduction in aerodynamic testing imposed by the FIA for breaching the budget cap rules last season.
The fact that the racetrack is at the top of Ferrari’s “concerns” is also confirmed by the hypercar project we talked about in recent days. It is difficult to believe that the Prancing Horse wants to try its hand in a category in which other automotive giants are present just to compete without having the chance to score a solid result. And perhaps it is precisely this evidence that gives fans hope of being able to see a red car at the top of each motorsport category.
Ferrari is required to deny the accusations from fans: more and more fans feel that as long as the financial results are so brilliant, there will be no real interest in focusing more on a project that would lead to the F1 title rather than just sporadic victories. A belief that was nurtured even after the signing of the new Concorde Agreement which offers the Prancing Horse very advantageous economic revenues and that are more for the team’s rich history than for what is has recently produced, in terms of victories, on the racetracks.
But also the political weakness that the Italian side has often shown at the meetings which the rules and mechanisms of Formula 1 are defined has been taken as a clear sign of scarce intention to win on the track. Signals that are less random than one might imagine and which, once and for all, must be removed by passing from pious intentions to real facts.
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