# Touring Texas in a Ford Expedition King Ranch & Ferrari's Electric Plans

An episode of [Bloomberg Hot Pursuit!](https://invisiblenetwork.ai/podcast/1710787142), 17 Oct 2025, 34 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/4778f66f-5d19-456a-9820-b08f00dfd567/f8db712d-c2ac-4309-b1ea-b37901504235/audio.mp3?utm_source=Podcast&in_playlist=42336c1a-f7c2-4898-885b-b08f00e0bb66

Matt and Hannah discuss Hannah’s Texas tour with the Ford Expedition King Ranch and her week testing Waymo. Plus, the rise of motorsport and Ferrari CEO Benedetto Vigna. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
[0:08] Speaker 2: I'm Hannah Elliott and I'm Matt Miller, and this is
[0:11] Speaker 2: Hot Pursuit coming up today, cornering the ride share market.
[0:20] Speaker 2: Why way Mo may have an advantage over.
[0:23] Speaker 1: Uber pulas Formula one is front and center in the
[0:27] Speaker 1: racing world, but is there room for others? How big
[0:31] Speaker 1: time automakers are betting on it.
[0:34] Speaker 2: And Ferrari CEO Benedetto Vina joins us. We'll talk about
[0:38] Speaker 2: the company's first all electric vehicle and the possibility that
[0:43] Speaker 2: they go back to gated shifters in new cars. Thanks
[0:48] Speaker 2: for joining us this week on Hot Pursuit, Hannah, I
[0:51] Speaker 2: want to before we get to anything, ask about Texas,
[0:54] Speaker 2: because you were just down there. I see you're wearing
[0:57] Speaker 2: a cowboy hat right now, and I'm guessing you're all so.
[1:00] Speaker 2: You have that gigantic belt buckle on you.
[1:03] Speaker 1: I've still got the truckle on. I basically haven't taken
[1:06] Speaker 1: it off for a week, which is I don't know
[1:08] Speaker 1: what that means about me or the truckle, but I'm
[1:11] Speaker 1: going with it. I'm actually still in Texas. I've been
[1:14] Speaker 1: here a week. I've got a couple more days I'm
[1:17] Speaker 1: in Dallas right now, and we did try to do
[1:20] Speaker 1: this episode from the back of the Ford Expedition King
[1:24] Speaker 1: Ranch that I've been driving around all week. Gun a
[1:26] Speaker 1: little hot, so we had to reschedule. So that's we're
[1:29] Speaker 1: I'm doing it from the confines of a climate controlled
[1:32] Speaker 1: hotel room in downtown Dallas right now. But I have
[1:35] Speaker 1: to say, this Ford Expedition King Ranch is kind of
[1:39] Speaker 1: the perfect vehicle to be driving all around Texas this week.
[1:42] Speaker 1: It's been a lot of fun.
[1:44] Speaker 3: It is gigantic.
[1:45] Speaker 2: I love, you know, the King Ranch edition of the
[1:48] Speaker 2: F one fifty or the super Duty trucks because it's
[1:52] Speaker 2: got that extra flare. I don't know if a cowboy
[1:55] Speaker 2: would use that term, but it's got that, you know
[1:57] Speaker 2: you extra and graving, yeah, extra stitching like the swagger
[2:02] Speaker 2: for sure. Is the King Ranch Expedition as cool as
[2:06] Speaker 2: the King Ranch pickup truck.
[2:08] Speaker 1: I have to say the King Expedition it's not as
[2:11] Speaker 1: cool because personally I love trucks. But it's pretty close. Matt,
[2:17] Speaker 1: You'll love it. It's a body on frame, which I know
[2:20] Speaker 1: is important to you. True, It's it's not a V eight,
[2:24] Speaker 1: so sorry about that. It's a twin turbo V six
[2:27] Speaker 1: with Ego boost, But it does have all of that
[2:30] Speaker 1: distinctive styling that the truck has, like bronze accents on
[2:35] Speaker 1: the grill, the wheels, the body. Those wheels are twenty
[2:38] Speaker 1: two inch wheels with like diamond cut machined aluminum detailing.
[2:44] Speaker 1: And then of course it has all of the King
[2:46] Speaker 1: Ranch badging, which is that squiggly snake line inside and outside,
[2:52] Speaker 1: I mean on the seats, on the on the tread plates,
[2:58] Speaker 1: on the floor mats. It's kind of everywhere. So if
[3:03] Speaker 1: you are a fan of King Ranch and the King
[3:05] Speaker 1: Ranch is a real place, by the way, you'll probably
[3:09] Speaker 1: like the Expedition suv as well.
[3:11] Speaker 3: It is.
[3:12] Speaker 2: I think it's like the biggest ranch in America, right,
[3:15] Speaker 2: It's yes.
[3:16] Speaker 1: Yes, the King Ranch. It's in South Texas. I think
[3:20] Speaker 1: it was incorporated in about eighteen fifty three, And of
[3:24] Speaker 1: course it's known for its beef cattle herd, but it
[3:27] Speaker 1: also is a really prominent breeder of quarter horses. I
[3:31] Speaker 1: did a little research on it because it is such
[3:32] Speaker 1: a big deal. They had a triple Crown winner back
[3:36] Speaker 1: in the forties, and it is a big brand in Texas.
[3:40] Speaker 1: In fact, I went I was in Austin a few
[3:43] Speaker 1: days ago and King Ranch has a store on South
[3:47] Speaker 1: Congress basically close to Ermez doing you know, leather wear,
[3:51] Speaker 1: work and stuff. So it's kind of a big deal.
[3:54] Speaker 1: It's definitely a thing down here.
[3:56] Speaker 2: You know. It is so gigantic, and the expedition is
[4:00] Speaker 2: so gigantic as well. It's the biggest SUV that that
[4:04] Speaker 2: Ford makes, and it's the same size as Tahoe or
[4:09] Speaker 2: a suburban if you get the max version. I wonder
[4:13] Speaker 2: if Ford doesn't reintroduce at some point big inch V
[4:17] Speaker 2: eight to go into that, to that SEV, because they
[4:20] Speaker 2: do have Godzilla, right, they have the seven point three
[4:22] Speaker 2: leater V eight that goes into the trucks and the
[4:25] Speaker 2: super duties, and they did have a fantastic six point
[4:29] Speaker 2: two liters V eight in the in the first generation
[4:33] Speaker 2: Raptor that I'm sure they got rid of due to
[4:37] Speaker 2: cafe standards and and other regulatory issues. But those regulations
[4:41] Speaker 2: are now toothless in the era of Donald Trump. So
[4:46] Speaker 2: they could bring it back.
[4:47] Speaker 1: Oh, I think they could, and maybe they even should.
[4:50] Speaker 1: I will say. Down here in Texas where everything is bigger,
[4:55] Speaker 1: people singing to love the expeditions. I'm seeing them all over.
[4:59] Speaker 1: They especially love the tailpipes that are like three times
[5:03] Speaker 1: the normal size. I've been noticing a lot of those
[5:07] Speaker 1: on the backs of Dooley's, so it seems like that
[5:11] Speaker 1: would be very welcome here in the Great State of Texas.
[5:15] Speaker 1: I should say, you know, about that size thing. The
[5:18] Speaker 1: turning radius on the King Branch expedition is not good.
[5:24] Speaker 1: And parking is a challenge. It's very fun. Yeah, yeah,
[5:30] Speaker 1: it is. When you're trying to get in and out
[5:33] Speaker 1: of like hotel valets and restaurant valets. It is a challenge.
[5:39] Speaker 1: There's definitely a blind spot when you're trying to change lanes.
[5:42] Speaker 1: You know, I kind of cringe when I have to
[5:44] Speaker 1: change lanes on you know, going eighty five on the
[5:46] Speaker 1: freeways down here. It's been it. Really you feel it,
[5:50] Speaker 1: I mean you really feel it. It feels like you're
[5:52] Speaker 1: driving an elephant. I mean that's just the truth. Not
[5:55] Speaker 1: that it's a bad thing, but it's certainly not a
[5:58] Speaker 1: nimble lane change car. I'd say that.
[6:02] Speaker 2: I'm sure that the twin turbo V six is fast enough,
[6:07] Speaker 2: like it has enough power, yeah.
[6:08] Speaker 1: Sure, yeah.
[6:09] Speaker 3: And when and when they and when.
[6:11] Speaker 2: They came out with that motor in the second gen Raptor.
[6:14] Speaker 2: You know, higher horsepower I think, and torque numbers than
[6:18] Speaker 2: than the V eight, But it's just everyone always asked
[6:21] Speaker 2: me why do I care? And to me, there's a
[6:24] Speaker 2: more fuller, warmer feeling when you're driving the bigger V
[6:30] Speaker 2: eight than than there is when you're driving you know,
[6:33] Speaker 2: a smaller, more compact V six that's got turbochargers in
[6:38] Speaker 2: order to get better gas mileage. I mean one or
[6:41] Speaker 2: two miles per gallon better, but it's it's not worth
[6:44] Speaker 2: the trade off.
[6:45] Speaker 1: To me, Yeah, I get it, and that's totally valid.
[6:49] Speaker 1: This does not have an engine that's gonna warm your heart.
[6:51] Speaker 1: There's no like, there's no connection. You don't you don't
[6:54] Speaker 1: feel it. It's not it's not a gutsy engine at all.
[6:59] Speaker 1: I think there might be just under four and fifty
[7:01] Speaker 1: horse power, and honestly, like, I don't think anyone buys
[7:06] Speaker 1: it for the power. Then I just don't see it.
[7:11] Speaker 1: So you're you're probably right on that it'd be better
[7:14] Speaker 1: to get something smaller with a bigger engine.
[7:16] Speaker 2: I bet the other thing is and this is not
[7:19] Speaker 2: specific to Ford, but this is an expensive truck right.
[7:23] Speaker 2: Oh yeah, I mean it's going to say the starting
[7:25] Speaker 2: cost alone is like seventy grand and then you can
[7:29] Speaker 2: easily option it out to ninety easily. But I noticed
[7:35] Speaker 2: today that, or the last couple of days, we got
[7:37] Speaker 2: data from Cox Automotive, so the average car price in
[7:40] Speaker 2: America is now over fifty thousand dollars.
[7:43] Speaker 1: That is wild to me. I mean, I remember when
[7:46] Speaker 1: it used to be sort of low thirties, and now
[7:49] Speaker 1: it does seem like everything's more expensive, and that certainly
[7:53] Speaker 1: does include new cars too.
[7:55] Speaker 2: You know, Yeah, it's mad, it's maddening. I mean, the
[7:58] Speaker 2: financing costs now or not. On average, the monthly payment
[8:03] Speaker 2: on average in America is seven hundred and fifty bucks
[8:05] Speaker 2: a month, and one in five people are paying more
[8:09] Speaker 2: than one thousand dollars a month on a car payment.
[8:11] Speaker 1: That's wild. Yeah, that's wild. And I also know obviously
[8:15] Speaker 1: this we're talking about an sub but the truck for
[8:18] Speaker 1: the King, the F one fifty King Ranch again, this
[8:22] Speaker 1: is the best selling vehicle in America period for more
[8:27] Speaker 1: than four decades, the Ford F one fifty and a
[8:29] Speaker 1: lot of those trucks are going for six easy six
[8:32] Speaker 1: figures because and you see it down here. People use
[8:34] Speaker 1: them for work. They're in them all day driving. It's
[8:38] Speaker 1: a rolling office.
[8:39] Speaker 3: Yeah.
[8:39] Speaker 2: No, I mean it's a fantastic vehicle. And if you're
[8:43] Speaker 2: especially if you're in a big place with big parking spots,
[8:47] Speaker 2: then then it makes all the sense because you can
[8:49] Speaker 2: fit your whole family in it.
[8:50] Speaker 3: You can fit all the stuff that you need in it.
[8:53] Speaker 2: I wonder if the F series, so I know it's
[8:55] Speaker 2: the best selling name plate in America, Yes, but that
[8:58] Speaker 2: includes F one, fifty, D F two, fifty, F three, fifty,
[9:01] Speaker 2: the whole gamut. And I wonder if General Motors actually
[9:07] Speaker 2: sells more pickup trucks if you combine the GM, the
[9:13] Speaker 2: Chevy Silverado, and the GMC Sienna, because you know, they're
[9:19] Speaker 2: considered different. And yes, it seems like an almost unfair comparison.
[9:25] Speaker 4: Is that sure?
[9:26] Speaker 1: I mean that would be interesting. I again, my perception
[9:32] Speaker 1: is very heavily skewed right now because I'm in Texas,
[9:34] Speaker 1: and Texas trucks are such a thing and I'm just
[9:39] Speaker 1: seeing so many forwards, So my perception is skewed. But
[9:42] Speaker 1: I think that's a great question we should find out.
[9:44] Speaker 2: Actually, yeah, I think I'm pretty sure that if you
[9:50] Speaker 2: total up all of GM's full size pickup trucks, you're
[9:54] Speaker 2: getting close to nine hundred thousand, and if you total
[9:57] Speaker 2: up all the F series, it's like seven to fifty.
[10:00] Speaker 1: So interesting.
[10:01] Speaker 2: So but I know they love that, you know, best
[10:03] Speaker 2: selling nameplate in America. Hey me, one of the cool
[10:07] Speaker 2: things that I've done in Texas and I've only been
[10:10] Speaker 2: able to do it in Texas just because I don't
[10:12] Speaker 2: get to spend enough time in California. Is I rode
[10:15] Speaker 2: in a driverless car in Austin in a Waimo Like
[10:19] Speaker 2: I ordered it with the app and it was I thought,
[10:24] Speaker 2: very cool. You are a story about Waimo versus Uber
[10:28] Speaker 2: for Bloomberg.
[10:28] Speaker 3: What was the story?
[10:29] Speaker 1: Yes, well, the story was It was simply set out
[10:34] Speaker 1: to be, Hey, I'm a car person, I like cars,
[10:38] Speaker 1: I own cars. How will I feel about being in
[10:41] Speaker 1: a driverlest vehicle that is also electric? And you know
[10:45] Speaker 1: what's that? Like? That was the whole, very simple premise,
[10:48] Speaker 1: and I went into it sort of, you know whatever,
[10:56] Speaker 1: open to whatever. I didn't have any expectations. My first
[10:59] Speaker 1: ride wait for the Weimo was twenty six minutes, which
[11:02] Speaker 1: was unexpected, and you know, I had to have my
[11:05] Speaker 1: husband drop me off within range of the Weimo because
[11:08] Speaker 1: it's not within range of our house in Hollywood. So
[11:12] Speaker 1: it kind of started out slow, but I have to say,
[11:16] Speaker 1: by the end of the week, I can really see
[11:19] Speaker 1: a use case for weymos in cities like Austin. Just
[11:23] Speaker 1: like you said in La I hope they come to
[11:25] Speaker 1: New York. They're training, they're training right now, they're training
[11:28] Speaker 1: the cars in New York. There really is a use
[11:31] Speaker 1: case for it for doing things like commuting, which no
[11:35] Speaker 1: car person likes commuting, you know. And it was a
[11:40] Speaker 1: very good experience. Besides that twenty six minute way. I
[11:44] Speaker 1: started just scheduling them a little bit better and I
[11:48] Speaker 1: really liked it. And everybody I've spoken with who has
[11:52] Speaker 1: ridden in a Weimo is also a big fan. They're
[11:56] Speaker 1: they're converted.
[11:57] Speaker 2: Here because you don't have to have someone else in
[11:59] Speaker 2: the car. For example, when I order an uber, I
[12:01] Speaker 2: always it gives you preferences. How do you want the
[12:03] Speaker 2: temperature and would you like yes the would you like
[12:07] Speaker 2: a quiet ride? You know, I don't necessarily want to
[12:09] Speaker 2: have a conversation. I will with the driver, but I
[12:12] Speaker 2: definitely don't want to hear someone else's music. Usually no
[12:15] Speaker 2: and even when I choose quiet, they're still pumping out
[12:21] Speaker 2: whatever jams they're interested in, or on the phone, you know,
[12:25] Speaker 2: with their wife or whatever, you know, and it's it's
[12:29] Speaker 2: just never the way I want it, Whereas I imagine
[12:33] Speaker 2: you wouldn't have ever had those kind of problems in
[12:36] Speaker 2: a way.
[12:36] Speaker 1: Moo, no no. And honestly, I thought that the weimo
[12:41] Speaker 1: would be a little bit hesitating and faltering and not confident,
[12:47] Speaker 1: and it's driving as it's trying to read the environment.
[12:50] Speaker 1: And the Weymo was a far better driver than most
[12:53] Speaker 1: of the Uber drivers, you know, courteous waiting for people
[12:56] Speaker 1: to get in, but also getting out of the way.
[12:59] Speaker 1: It was such a great driving machine. And one thing
[13:05] Speaker 1: that I've heard a lot of people say, especially girlfriends
[13:08] Speaker 1: of mine, people in the gay and trans communities, they
[13:12] Speaker 1: actually prefer weaimo because they are hassled a lot less.
[13:16] Speaker 1: They like not having to, like you say, make awkward
[13:21] Speaker 1: conversation with an Uber driver and even not be hassled
[13:25] Speaker 1: by Uber drivers who are a little aggressive or make
[13:28] Speaker 1: creepy comments. So that is a really important use case
[13:31] Speaker 1: as well.
[13:32] Speaker 2: I wonder what they'll use because right now they have
[13:35] Speaker 2: jags or at least they did in.
[13:36] Speaker 1: Austin the iepace.
[13:38] Speaker 3: Yes, yeah, and that's pretty cool.
[13:41] Speaker 2: You know, you don't usually you don't see too many
[13:43] Speaker 2: of those around, so it like stands out. I wonder
[13:46] Speaker 2: if they'll continue to use Jags because that brand is
[13:51] Speaker 2: pretty much totally right.
[13:53] Speaker 1: I know from what I hear from Waimo, and I
[13:55] Speaker 1: did reach out to them and correspond with them. They
[13:59] Speaker 1: are developing more cars using the jag Ipace as the
[14:03] Speaker 1: platform for it. So that is what they're saying for
[14:06] Speaker 1: the foreseeable future, and they are. They're in Phoenix, La Austin,
[14:11] Speaker 1: and Atlanta right now, San Francisco, and they are expanding
[14:15] Speaker 1: as well to you know, five new cities in the
[14:18] Speaker 1: new year, including Washington, d C. And Miami, and I
[14:22] Speaker 1: think Dallas too if I remember right. I know I
[14:24] Speaker 1: wrote the story. I have to go back and look,
[14:26] Speaker 1: but they are really expanding and to answer your question,
[14:28] Speaker 1: from what they say right now, they're going to stick
[14:30] Speaker 1: with the Jags, So it will be really interesting to say.
[14:34] Speaker 1: I will say Uber was not happy with the story
[14:38] Speaker 1: because not that it was pitting Weimo against Uber at all.
[14:42] Speaker 1: It was simply reviewing Weimo. But really, my big takeaway
[14:46] Speaker 1: was if given the choice between a Weimo or an Uber,
[14:49] Speaker 1: I would definitely prefer the Weimo for all of the
[14:53] Speaker 1: reasons we just said.
[14:54] Speaker 3: I mean me too.
[14:55] Speaker 2: Yeah, and not that I don't order door Dash, but
[14:58] Speaker 2: apparently they've got a new partnership with Waymo, so you
[15:01] Speaker 2: can use it to deliver your food as well, and
[15:03] Speaker 2: you don't have to cool deal with anybody in that case.
[15:07] Speaker 2: All right, we're gonna get to Formula one because you
[15:11] Speaker 2: have a great story. I shouldn't say that we're gonna
[15:13] Speaker 2: get to motor sports. Yes, you have a great story.
[15:17] Speaker 2: I mean I loved it on the the obsession that
[15:22] Speaker 2: carmakers right now have with all different leagues and motorsports.
[15:26] Speaker 2: But it looks like F one is the only one
[15:27] Speaker 2: still paying off more on the other side of this break,
[15:31] Speaker 2: this is hot pursuit. This is hot pursuit. I'm Matt
[15:43] Speaker 2: Miller along with Hannah Elliott and Hannah you have a
[15:46] Speaker 2: fantastic story covering, you know, global motor sports and how
[15:51] Speaker 2: all of the automakers around the world are, you know,
[15:54] Speaker 2: lining up to get involved in everything from King of
[15:59] Speaker 2: the Hammers to endurance racing. But it seems so far
[16:04] Speaker 2: only F one pays off. Did I sum it up right? Yeah?
[16:07] Speaker 1: Yeah, you got it. It's a really interesting thing because
[16:11] Speaker 1: I think we all are sensing it. I'm definitely sensing it,
[16:14] Speaker 1: just because this weekend F one's in Austin, so everyone
[16:17] Speaker 1: in Texas is talking about F one, and of course,
[16:20] Speaker 1: you know, F one's got the two billion dollar sponsorship
[16:23] Speaker 1: market and millions of TV viewers per race, et cetera,
[16:28] Speaker 1: et cetera, and everybody kind of wants in on that,
[16:30] Speaker 1: everybody meaning the automakers, the brands, and so we are
[16:34] Speaker 1: seeing so many brands, Audi, Cadillac, Forward, joining different mode
[16:40] Speaker 1: obviously Formula One, but also endurance racing like Lamont, the
[16:44] Speaker 1: World Endurance Championship Series. But also you know, Jim Farley's
[16:49] Speaker 1: talking about wanted wanting to develop a supercar for the
[16:52] Speaker 1: Baja one thousand. There's just so much in motorsport happening.
[16:58] Speaker 1: Of course, we've got IMSLA Racing, We've got Indy Car,
[17:01] Speaker 1: and you're right, so far everyone's talking about it. There's
[17:07] Speaker 1: a lot of buzz, but F one's kind of the
[17:10] Speaker 1: proven model. Obviously, we've got NASCAR, of course in the
[17:14] Speaker 1: US that's massive, but it's not growing, it's not growing
[17:19] Speaker 1: like F one has in like the potential we're seeing
[17:22] Speaker 1: for the other motorsport series, there's just not a lot
[17:27] Speaker 1: of proof that anyone's gonna stick around. I guess past
[17:30] Speaker 1: the initial buzz.
[17:32] Speaker 3: Now, I love you know.
[17:33] Speaker 2: The top of your story, you start off with an
[17:36] Speaker 2: anecdote about Jim Farley, who is He's really the only
[17:39] Speaker 2: automotive CEO that is a dedicated race car driver. And
[17:44] Speaker 2: to illustrate that point, he actually won the International Race
[17:49] Speaker 2: of Champions Expedition at Laguna Seka.
[17:51] Speaker 1: Yeah, it was a it was a obviously IRAQ is
[17:56] Speaker 1: no longer running, but it was like an x shibition
[18:00] Speaker 1: race that Laguna Seca during Monterey where he was driving
[18:03] Speaker 1: in the old cars and he won his class, which
[18:05] Speaker 1: is really hard to do. It's a pretty grueling thing
[18:08] Speaker 1: to be out there in that heat in those old cars,
[18:11] Speaker 1: and he's totally legit.
[18:13] Speaker 5: He was.
[18:14] Speaker 1: He of course raced and Laman we saw it. We
[18:16] Speaker 1: talked to him after one of his qualifying rounds. I
[18:18] Speaker 1: think at Lamont he's I mean, he he's the real thing.
[18:23] Speaker 1: He's not winning every race, but he's out there and
[18:25] Speaker 1: he's doing pretty well, which is great, and he thinks
[18:28] Speaker 1: it's important.
[18:29] Speaker 2: I mean, the funny thing is you point out that
[18:31] Speaker 2: he plays Midpac and the Mustang Challenge, but I do
[18:34] Speaker 2: want to, uh. I think it's illuminating to understand that
[18:38] Speaker 2: the Mustang Challenge is a client race. So that's the
[18:42] Speaker 2: people that he sells to. Those are his clients, and
[18:47] Speaker 2: it may be a bad look if he beats them.
[18:49] Speaker 1: All right, Yes, so that race he didn't.
[18:53] Speaker 2: Win, but the Iraq Exhibition he did win. So it's
[18:57] Speaker 2: like maybe he was trying a little a little hard
[19:00] Speaker 2: at Laguna Seka.
[19:01] Speaker 1: I mean, Jim Farley is not a dumb man. He
[19:05] Speaker 1: he is a very smart man. And yes, I think
[19:08] Speaker 1: he knows how to read a room very well. So yeah, Also,
[19:13] Speaker 1: you know, versus reward, it doesn't look good for any
[19:16] Speaker 1: executive to put any type of car into a wall
[19:19] Speaker 1: or take it off the track, so he's got to
[19:23] Speaker 1: watch it a little bit. I think he's probably you know,
[19:26] Speaker 1: he may be going nine point nine out of ten
[19:29] Speaker 1: just to make sure, you know, we don't want any
[19:32] Speaker 1: bad pr around the races.
[19:35] Speaker 3: We don't want to lose our CEO.
[19:36] Speaker 1: Also exactly, well that too, that too, I mean, but
[19:39] Speaker 1: clearly he and he's really told us. Look, it's important.
[19:43] Speaker 1: It's not just about race on Sunday sell on Monday.
[19:46] Speaker 1: It's important for us to be a part of the conversation.
[19:49] Speaker 1: These motorsports series are big networking opportunities for customers, for
[19:54] Speaker 1: people who are involved with the brand, for advisors, consultants,
[19:57] Speaker 1: for investors. It's not just about selling cars. That's part
[20:01] Speaker 1: of it, of course, but there's a whole ecosystem that
[20:03] Speaker 1: motorsport involves and that is growing.
[20:09] Speaker 2: There are three hugely important, culturally important races known as
[20:15] Speaker 2: the Triple Crown. Right we went to La Mall, there
[20:19] Speaker 2: is the Monaco Grand Prix, and then there's the Indy
[20:23] Speaker 2: five hundred and you know, three different leagues here. One
[20:27] Speaker 2: of those stands out above all the rest in terms
[20:31] Speaker 2: of viewership, at least according to their numbers.
[20:35] Speaker 1: Yeah, the Monico race.
[20:36] Speaker 2: They say a billion people watch the F one race
[20:39] Speaker 2: in Monaco.
[20:40] Speaker 1: It's I mean, I get I guess we have to
[20:43] Speaker 1: believe it. If that's what the rating is, it's incredible.
[20:46] Speaker 1: And you know what, when I talk to my little cousins,
[20:50] Speaker 1: who are you know, early twenties professional career girls, they
[20:55] Speaker 1: follow Formula one And just last night I was asking
[20:59] Speaker 1: a couple of them at dinner, which race would you
[21:01] Speaker 1: want to go if you could go to one F
[21:03] Speaker 1: one race? And they live in Texas and they said
[21:06] Speaker 1: the Monaco Race. So there is this just incredible mystique
[21:11] Speaker 1: and prestige around it that is also drawing in young
[21:15] Speaker 1: new fans as well. It's really interesting.
[21:18] Speaker 2: Yeah, I'm not sure which I would want to go
[21:21] Speaker 2: to of those three. I mean, we had so much
[21:24] Speaker 2: fun at Lamar, I know it was amazing, but I've
[21:28] Speaker 2: never been to the Indy five hundred.
[21:30] Speaker 3: That's got to be either a massive party, right.
[21:33] Speaker 1: It's got to be a massive party. That's Yes, you're right,
[21:37] Speaker 1: You're right. I mean maybe you and I Matt should
[21:39] Speaker 1: do our own triple Crown where we go to each
[21:41] Speaker 1: race take out I'm in and we do and we
[21:44] Speaker 1: share it with everyone because we need to get to
[21:48] Speaker 1: the Indy five hundred. For sure. I've not been.
[21:51] Speaker 2: No, I definitely want to go. I do think that
[21:56] Speaker 2: there's an argument world Endurance racing passes down more important
[22:02] Speaker 2: technology than many other leagues, but F one is the
[22:06] Speaker 2: most famous for you know, giving us things that we
[22:09] Speaker 2: use on the road today.
[22:10] Speaker 1: Right, Yes, totally. And I have to say I think
[22:14] Speaker 1: the Monaco race is really fan friendly and very accessible
[22:20] Speaker 1: for people from everywhere in the city, and we cannot
[22:23] Speaker 1: say the same about Lamon as much as we love it.
[22:27] Speaker 2: Right, Well, I think, well, I'm not I haven't been
[22:31] Speaker 2: to the race in Monaco. I've been to other F
[22:34] Speaker 2: one races, and in my experience, if you're with really
[22:39] Speaker 2: rich people, it's so much better to watch these things.
[22:42] Speaker 1: Well, yes, and that may be life in general sometimes,
[22:46] Speaker 1: although not all the time.
[22:48] Speaker 3: I prefer watching a lot of racing on tea.
[22:50] Speaker 2: So my wife and I go to a lot of
[22:51] Speaker 2: motor GP races and it's great because we know people
[22:55] Speaker 2: on the paddock and we have kind of access and
[22:57] Speaker 2: we get to sort of meet our heroes. But when
[23:02] Speaker 2: when the lights go off, I'm watching TV even when
[23:05] Speaker 2: I'm there.
[23:06] Speaker 1: Yeah, I totally get it. You know, that's funny. Last
[23:11] Speaker 1: night I went to a Stars game, the hockey team
[23:13] Speaker 1: here in Dallas, and I just bought the cheap seats,
[23:16] Speaker 1: the twenty dollars seats way up in the rafters, And
[23:19] Speaker 1: you do end up just watching it on TV. But
[23:21] Speaker 1: I've been in suites at other sporting events and you're right,
[23:24] Speaker 1: you end up kind of watching it on TV there too,
[23:27] Speaker 1: so same difference.
[23:29] Speaker 2: Yeah, everyone should enjoy as much racing as possible. All Right,
[23:32] Speaker 2: we have one more quick pit stop with the advertisers,
[23:35] Speaker 2: and then we're going to be back to talk about
[23:37] Speaker 2: Ferrari's new all electric ride and the potential for a
[23:42] Speaker 2: gated shifter. This is hot pursuit. Earlier this week, Ferrari
[23:54] Speaker 2: CEO Benedetto Vigna joined me and my colleague Katie Greifeld
[23:58] Speaker 2: in the Bloomberg Television studio. We're on live Bloomberg TV.
[24:02] Speaker 2: That's why you'll notice the audio sounds a little bit different,
[24:05] Speaker 2: but I thought it was important to bring you this
[24:07] Speaker 2: conversation anyway. We kicked off by asking him about the
[24:10] Speaker 2: Ferrari Icona series. Are you going to be selling more
[24:14] Speaker 2: of these iconas? These are the special, incredibly high price
[24:18] Speaker 2: tag vehicles. I heard, for example, that you can order
[24:22] Speaker 2: one with a gained shifter, which got me very excited.
[24:25] Speaker 4: Next time I come up with four million dollars, I'll
[24:27] Speaker 4: put it in my order.
[24:28] Speaker 2: But are you going to sell more of those in
[24:30] Speaker 2: the mix along with the F eighty No.
[24:33] Speaker 5: I think that we have all us to make sure
[24:35] Speaker 5: that this Icona it is super catter Limited. There was
[24:38] Speaker 5: a clear message, from a clear chart from our CFO
[24:42] Speaker 5: that was telling that a number of Iacona supercars will
[24:45] Speaker 5: not go more than five percent, and we want to
[24:46] Speaker 5: stick to it. I think that to have our client happy,
[24:51] Speaker 5: he has to fail that he owns something that not
[24:53] Speaker 5: only not too many people can have it. And I
[24:56] Speaker 5: think this is the business model. Ferrari. Scarcity must have
[24:58] Speaker 5: been managed well will to take care of the client.
[25:02] Speaker 5: This is important.
[25:03] Speaker 6: I do want to talk a little bit more directly
[25:04] Speaker 6: about Electric Ferraris because you lowered your targets to twenty
[25:08] Speaker 6: percent of the lineup by twenty thirty. Previously it had
[25:11] Speaker 6: been forty percent. We'd love to hear a little bit
[25:13] Speaker 6: more about that decision to.
[25:15] Speaker 4: Lower the target.
[25:16] Speaker 5: The reason why we drop or we reduce, we trim
[25:19] Speaker 5: it down, the split of the twenty percent of the
[25:23] Speaker 5: offer is because we have seen what is happening around us,
[25:27] Speaker 5: so we pushed. The number of model overall has been
[25:30] Speaker 5: increased overall. In number two in this mix, we increased
[25:34] Speaker 5: the terminal.
[25:37] Speaker 2: I see, when are we going to see the body
[25:39] Speaker 2: in white and when are we going to hear it?
[25:41] Speaker 4: Because apparently it's going to be amplified.
[25:43] Speaker 5: Within within h one next year we do we keep
[25:47] Speaker 5: delivering on our promises. Phase one, then phase two is
[25:51] Speaker 5: going to be let's say, in Q one, phase two
[25:53] Speaker 5: in Q two. Within Q two, can I.
[25:55] Speaker 2: Talk about something that you probably are sick of hearing
[25:59] Speaker 2: it from me?
[25:59] Speaker 4: But no analog versus digital?
[26:01] Speaker 2: Right, you're putting buttons back on the steering wheel in
[26:04] Speaker 2: the Amalfi, which I'm very not only in I know
[26:07] Speaker 2: the cat of this year. So that's fantastic. I imagine
[26:09] Speaker 2: customers asked for that. Right, You've still got fields of
[26:14] Speaker 2: screens in there, and I've driven a number of very
[26:19] Speaker 2: expensive cars where they have screens replacing these elegant and
[26:23] Speaker 2: beautiful analog gauges. You know, why don't we go back
[26:26] Speaker 2: to clocks that are an animal with with you know, needles.
[26:30] Speaker 2: Wouldn't that be more exciting for a Ferrari buyer.
[26:34] Speaker 5: Look, we said clearly that we are a big fan
[26:37] Speaker 5: of digital. It means that you use digital where it's
[26:40] Speaker 5: needed and physical where it's needed. I can't tell you
[26:43] Speaker 5: that all the time. This year we presented the five cars,
[26:46] Speaker 5: the two speech Ali six cylinder, the two Test Spider
[26:50] Speaker 5: and Coop, and the Federal a Malfi when we told
[26:53] Speaker 5: our client in the entire world that we are going
[26:55] Speaker 5: back to the button where you fill it okay, without touching,
[27:00] Speaker 5: without looking, because when you drive you need to look
[27:02] Speaker 5: at the road. Well, that was a big, big approse
[27:05] Speaker 5: we had. So we will use digital where it's needed,
[27:08] Speaker 5: in physical where it's needed.
[27:10] Speaker 2: Can I just ask about the shifters, because I spent
[27:13] Speaker 2: so much time on bring a trailer. I'm looking at
[27:15] Speaker 2: three sixties, I'm looking at four thirties, you know, sometimes
[27:17] Speaker 2: five seventy fives and six twelves.
[27:19] Speaker 4: And I noticed that the premium for a manual.
[27:22] Speaker 2: Is massive, fifty sixty seventy percent, sometimes even double for
[27:27] Speaker 2: the manual car versus the autobox. So doesn't that mean
[27:31] Speaker 2: customers want to buy that new two Look?
[27:33] Speaker 5: You have to listen to client for something. For something else,
[27:37] Speaker 5: you cannot listen for something else. Maybe some good in
[27:41] Speaker 5: for the future.
[27:43] Speaker 6: So maybe in the future you can just make a
[27:45] Speaker 6: suggestion box and Mac can put his comments directly on
[27:48] Speaker 6: their boofore yes to.
[27:48] Speaker 2: Come to sees there you cal So that was the
[27:52] Speaker 2: interview that we did this week with Ferrari Ceo Benedetto
[27:56] Speaker 2: vinya Are thanks to the Clothes and Katie Greifeld for that.
[27:59] Speaker 2: But Hannah, I thought some really interesting things came out
[28:03] Speaker 2: of this, mainly the fact that he seemed to imply
[28:06] Speaker 2: we may get a manual transmission back in New Ferraris.
[28:12] Speaker 1: This is incredible and it's really a complete about face.
[28:16] Speaker 1: If we can believe, if we're going to go forward
[28:18] Speaker 1: and believe that's what's happening, this is huge. I mean,
[28:22] Speaker 1: it's what everybody in the collector market seems to want
[28:27] Speaker 1: and real enthusiast quote unquote, I mean do you think
[28:31] Speaker 1: do you really believe that this is likely?
[28:34] Speaker 4: I do.
[28:35] Speaker 2: He used the word figital, which is a portmanteau of
[28:40] Speaker 2: physical and digital, So he basically was telling me, look,
[28:44] Speaker 2: we're going to keep the digital experience to the extent
[28:47] Speaker 2: that because I was like, why use screens instead of
[28:50] Speaker 2: going back to canalog gages? But he clearly wants that,
[28:53] Speaker 2: but he does want more physical interaction with the car.
[28:56] Speaker 2: That's why they're going back to buttons on the steering wheel.
[28:58] Speaker 1: Yes, well, I just story on that. A lot of
[29:01] Speaker 1: people are doing that.
[29:02] Speaker 2: I know you did, and and so I feel like,
[29:06] Speaker 2: you know, the most important physical interaction with your car
[29:09] Speaker 2: has to be a stick shift in this kind of vehicle,
[29:11] Speaker 2: right if you're talking about a GT car and this
[29:15] Speaker 2: kind of to me, this ties together our whole podcast
[29:18] Speaker 2: because self driving or sorry, a automuh what is it called?
[29:24] Speaker 2: Autonomous driving is I think at some point going to
[29:29] Speaker 2: be the way forward. And electric cars as well. You know,
[29:32] Speaker 2: we're gonna be in a future where everybody is commuting
[29:35] Speaker 2: in an autonomous electric vehicle, and perhaps even where you're
[29:40] Speaker 2: not allowed to drive your own car on US highways
[29:43] Speaker 2: because that would then be dangerous in a world where
[29:47] Speaker 2: car accidents are a thing of the past. So it's
[29:49] Speaker 2: only going to be like the collectors, the enthusiasts, the
[29:52] Speaker 2: people who really care, just like the same people who
[29:55] Speaker 2: like ride horses now right, you don't see them on.
[29:57] Speaker 1: The right way mechanical wristwatch, yes.
[30:00] Speaker 2: Or that, So I think you know they're only going
[30:02] Speaker 2: to want manual transmission cars for the most part, just
[30:08] Speaker 2: like uh, if you look on auction sites, as I
[30:12] Speaker 2: was talking about with Benedetto Vina, you'll see if you
[30:14] Speaker 2: want to buy a three to sixty, you're gonna pay
[30:17] Speaker 2: a lot more for the six speed, And in fact,
[30:20] Speaker 2: on bat it'll say six speed in for any even
[30:23] Speaker 2: nine to elevens in the headline, because they know that's
[30:26] Speaker 2: much more valuable.
[30:28] Speaker 1: Totally, I think you're very right, and I don't think
[30:32] Speaker 1: that these autonomous vehicles are mutually exclusive with collectible engaging
[30:41] Speaker 1: cars to drive. Just what you said, these are not
[30:43] Speaker 1: mutually exclusive things. I do believe they can exist together,
[30:47] Speaker 1: even at Ferrari as they're coming out next year with
[30:50] Speaker 1: their electric car, the Electrica or ELECTRICUFF. I probably should
[30:54] Speaker 1: say that with an Italian accident.
[30:56] Speaker 3: They drop like a C or something right to that.
[30:58] Speaker 1: Yeah, it is, it's like electric path, you know. So
[31:03] Speaker 1: Ferrari is moving forward into that space. And then if
[31:05] Speaker 1: they are coming out with some sort of manual shifting too,
[31:11] Speaker 1: that completely illustrates the idea that we can have both.
[31:16] Speaker 1: It's again it's two different tools for two different jobs,
[31:20] Speaker 1: which I think everyone's okay with. They don't have to
[31:23] Speaker 1: be mutually exclusive at all.
[31:25] Speaker 2: Well, I hope I understood him correctly, because it would
[31:29] Speaker 2: be so cool, I think especially and look, I get
[31:32] Speaker 2: that on the higher powered cars for our engineers say well,
[31:35] Speaker 2: we can't make a manual transmission that will deal with
[31:37] Speaker 2: this much power. I understand that maybe that's true. Okay,
[31:41] Speaker 2: you can buy a Hellcat with a manual or you could.
[31:43] Speaker 2: But for a car like the Roma, which is now
[31:47] Speaker 2: the Amalfi, I think that's where it works perfectly because
[31:52] Speaker 2: that's where you're not looking for two tenths on a track, right,
[31:55] Speaker 2: That's where you want to just enjoy your experience on
[31:57] Speaker 2: the back roads.
[31:59] Speaker 1: Pure driving engagement, pure driving enjoyment. As weird as we know,
[32:05] Speaker 1: I do love the Roman and I'm looking forward to
[32:07] Speaker 1: driving the Amalfi soon. And yes, that makes perfect sense
[32:11] Speaker 1: to me. We all know. I mean, nobody who is
[32:15] Speaker 1: not a professional driver can handle eight or nine hundred
[32:18] Speaker 1: horsepower with it with gears, with the gearbox. No way,
[32:22] Speaker 1: that's just ridiculous.
[32:25] Speaker 2: All right, Well that does it for today, I guess now.
[32:29] Speaker 2: I just got so excited that I can't believe we're
[32:31] Speaker 2: doing in the show here.
[32:32] Speaker 1: But we covered a lot of ground today.
[32:34] Speaker 2: Oh.
[32:35] Speaker 1: I have to also say the truckle, it's I'm wearing
[32:39] Speaker 1: it currently and it's it's working great.
[32:41] Speaker 2: Your giant your giant belt buckle, that's right. We never
[32:44] Speaker 2: came back to that. So that has an actual key
[32:46] Speaker 2: in it.
[32:47] Speaker 1: Yeah, it has a place to store. The key. It's
[32:49] Speaker 1: the same key for it has across all its products,
[32:53] Speaker 1: but this has a little carrier for it.
[32:55] Speaker 3: So love it.
[32:56] Speaker 1: Yeah, that's cool.
[33:01] Speaker 2: All right. Well, I look forward to seeing you again here,
[33:04] Speaker 2: same time, same place, next week.
[33:07] Speaker 1: That does it for this week's show. Remember to follow
[33:10] Speaker 1: and subscribe to Hot Pursuit on Apple, Spotify, and anywhere
[33:14] Speaker 1: else you listen. You can also send us your comments.
[33:17] Speaker 1: Email Matt and me at Hot Pursuit at Bloomberg.
[33:21] Speaker 2: Dot m Check out Hannah's columns and stories on Bloomberg
[33:24] Speaker 2: dot com and the Bloomberg Business app. Go there for
[33:27] Speaker 2: car reviews, events and stories that you won't find anywhere else.
[33:30] Speaker 2: Find it all at Bloomberg dot com, slash Pursuits, slash Autos.
[33:34] Speaker 1: I'm Matt Miller and I'm Hannah Elliott. We'll be back
[33:38] Speaker 1: in your podcast feed again next week

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