# All Things Ferrari with CEO Benedetto Vigna; Plus, Top Cars of 2024

An episode of [Bloomberg Hot Pursuit!](https://invisiblenetwork.ai/podcast/1710787142), 20 Dec 2024, 47 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/4778f66f-5d19-456a-9820-b08f00dfd567/2e81625d-dfd3-4614-8b23-b24a014dd837/audio.mp3?utm_source=Podcast&in_playlist=42336c1a-f7c2-4898-885b-b08f00e0bb66

Ferrari CEO Benedetto Vigna joins the podcast to talk about the future of the 85-year-old brand. Plus, the best cars of 2024 and Matt talks Harley-Davidson. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. I'm Matt Miller and
[0:09] Speaker 1: I'm Hannah Elliott and this is Hot Pursuit.
[0:20] Speaker 2: And I guess it's already like a holiday edition too,
[0:22] Speaker 2: because I'm in Valencia in Spain.
[0:25] Speaker 1: For at least Navidad.
[0:26] Speaker 3: Thank you. Uh. It's seventy degrees out amazing, which.
[0:31] Speaker 2: Even for Valencia is quite warm. But you're not knocked
[0:36] Speaker 2: off on holiday yet.
[0:37] Speaker 3: Where do you go after Friday?
[0:38] Speaker 1: I'm out, I'm out. We're gonna we're going to take
[0:41] Speaker 1: a journey with the dog over the river and through
[0:44] Speaker 1: the woods to grandmother's house. We go our little pup's
[0:48] Speaker 1: first car ride, like long, long journey, and I'm I'm
[0:53] Speaker 1: very excited. She's very excited.
[0:55] Speaker 3: Oh you're gonna how long? How long is the drive?
[0:59] Speaker 1: Well, the drives from La to Denver, so that's it's
[1:04] Speaker 1: about one thousand miles. You could do it in a day,
[1:06] Speaker 1: but I think we're gonna break it up and stop
[1:08] Speaker 1: somewhere around Grand Junction, nice way. So yeah, that'll be fun.
[1:13] Speaker 3: I'm very jealous of that. I love a long drive.
[1:16] Speaker 1: Well, I'll keep you posted. We're i mean, we're checking
[1:19] Speaker 1: the what the weather is, is the the one thing
[1:22] Speaker 1: to really be careful of because it can really catch
[1:24] Speaker 1: you out. And I actually grew up in Oregon driving
[1:28] Speaker 1: over the Cascades a lot in the winter, so I
[1:31] Speaker 1: am aware that if you're not prepared, can really catch
[1:35] Speaker 1: you out.
[1:35] Speaker 2: Is there a specific route that you're gonna take? What's
[1:38] Speaker 2: the route you take?
[1:39] Speaker 1: I haven't even got that far into planning.
[1:42] Speaker 3: So there's nothing.
[1:43] Speaker 1: So there's not like an I'm sure there is a
[1:46] Speaker 1: known route. I've never done this drive before. We've never
[1:48] Speaker 1: done it, so I'll have to get back to you
[1:51] Speaker 1: on that.
[1:52] Speaker 3: I get it.
[1:53] Speaker 2: No, I mean I always think of Ohio, New York
[1:55] Speaker 2: because I grew up in Columbus, New York, and so
[1:59] Speaker 2: my and my and also so we've always had a
[2:01] Speaker 2: place in New York in Ohio. So my whole life,
[2:04] Speaker 2: I've probably averaged like two or three trips round trips
[2:07] Speaker 2: a year. So you know, if I ask somebody, are
[2:09] Speaker 2: you going to go eighty or seventy six, you know
[2:11] Speaker 2: that they know when I'm talking about it.
[2:13] Speaker 1: Yes, we need to discuss this mustache that has mysteriously
[2:17] Speaker 1: appeared when you cross international waters. A minute you get
[2:21] Speaker 1: out of the country. Are you even coming back.
[2:24] Speaker 2: I mean, I am coming back and I probably won't
[2:27] Speaker 2: have this kind of must dash when I go back
[2:29] Speaker 2: on TV for Bloomberg.
[2:31] Speaker 3: But you know, it's.
[2:32] Speaker 2: Everyone always questions why I have this? What if I
[2:36] Speaker 2: just want to have a mustache that?
[2:39] Speaker 1: Yeah. It Also I feel like it's your international persona.
[2:42] Speaker 1: I mean, you can be whoever you want to be
[2:44] Speaker 1: in Spain.
[2:45] Speaker 3: True, it makes me much more American over here.
[2:49] Speaker 1: Also, I feel like you'd really fit in with law
[2:51] Speaker 1: enforcement and first responder teams, know, exactly.
[2:54] Speaker 2: Like the fire Department, respectable people even in America. With
[2:59] Speaker 2: full on mustache. I don't see why I should not
[3:01] Speaker 2: be able to wear one. By the way, I've been
[3:03] Speaker 2: doing a lot of thinking about police lately. Police in
[3:06] Speaker 2: Boston ride Giant Harley Davidson Roade Kings and they had
[3:12] Speaker 2: their own special hic that's their fleet. Yeah it is
[3:16] Speaker 2: because I've done I've done a bunch of Fourth of
[3:18] Speaker 2: July events where we had super fancy police escorts to
[3:22] Speaker 2: and from the venue. And these guys all have big
[3:27] Speaker 2: fat mustaches like this, and they control those bikes as
[3:31] Speaker 2: if it were second nature. And they're you know, eight
[3:34] Speaker 2: hundred and fifty or nine hundred pound motorcycles. That is
[3:38] Speaker 2: a lot. I have seen, by the way, firsthand the
[3:42] Speaker 2: work of tariff here in Spain, because I went to
[3:45] Speaker 2: the Harley Davidson dealership to look at a fat Bob. Now,
[3:48] Speaker 2: in the US they stopped production of them, or stop
[3:51] Speaker 2: sales with them last year, but they were eighteen nine
[3:54] Speaker 2: and here in Spain in dollars, and here in Spain
[3:57] Speaker 2: they're twenty four to nine in Europe, so like closer
[4:02] Speaker 2: to thirty grand and dollars, So basically, you know, fifty
[4:06] Speaker 2: percent more expensive than they are in America.
[4:10] Speaker 3: Wow, that's what crazy, right?
[4:12] Speaker 1: Yeah, and yet the cops have them. They must be
[4:16] Speaker 1: getting some fret deal.
[4:18] Speaker 3: I'm sure they get a fleet deal in the US,
[4:20] Speaker 3: buy in bulk, it's not It's not a.
[4:23] Speaker 2: Great time for Harley in terms of sales either, so
[4:26] Speaker 2: probably fewer and fewer police departments are buying them, but
[4:29] Speaker 2: definitely in Boston they are.
[4:31] Speaker 1: Okay, this is good info, great to know.
[4:34] Speaker 2: I also thought of some buid cars here, So Chinese
[4:38] Speaker 2: electric cars.
[4:39] Speaker 1: Oh about the Wow, how did they look?
[4:44] Speaker 3: They looked fine?
[4:45] Speaker 2: I mean they looked no worse than the typical sort
[4:50] Speaker 2: of Toyota or Honda Oh my goodness, we have to
[4:53] Speaker 2: talk about Honda as well. Yeah, Honda and Nithan getting
[4:59] Speaker 2: to get other as the third largest car maker. Not
[5:03] Speaker 2: you know, definite yet, but it does seem like it's
[5:04] Speaker 2: gonna happen, right, just shows the danger of Chinese competition.
[5:10] Speaker 2: Like buyd they can't compete anymore in the world's largest
[5:14] Speaker 2: car market, and they're gonna have to. I mean, how
[5:16] Speaker 2: long have those two been standalone brands? And come, I
[5:20] Speaker 2: mean I guess Nthan was part of Renault, but spend
[5:23] Speaker 2: decades and decades and decades.
[5:25] Speaker 1: Yeah. So this is the news that Honda and Nissan
[5:28] Speaker 1: are exploring a merger that would create a real singular
[5:32] Speaker 1: rival to Toyota in Japan and would better position the
[5:35] Speaker 1: company to face challenges from the world and also from Tesla.
[5:40] Speaker 1: And I think this news is really, from what I'm
[5:45] Speaker 1: reading and hearing, has caused shares in Nissan at least
[5:49] Speaker 1: to searge.
[5:51] Speaker 3: Yeah.
[5:51] Speaker 2: Absolutely sure, the biggest jump ever come on Wednesday.
[5:54] Speaker 1: I mean yeah again, Like, I don't think the influence
[6:00] Speaker 1: of China in twenty twenty five and beyond can be overstated.
[6:04] Speaker 1: And this is another.
[6:05] Speaker 2: Expiple agreed one hundred percent because even though, so I
[6:09] Speaker 2: cover US markets as my day job, and in terms
[6:12] Speaker 2: of markets, the influence of China has waned substantially, but
[6:16] Speaker 2: in terms of the car industry, it is still the
[6:20] Speaker 2: world's biggest car market and growing at a faster pace.
[6:23] Speaker 1: Yeah. The only difference is now it's realized it doesn't
[6:26] Speaker 1: need the European and American automakers. It can actually source
[6:30] Speaker 1: its own car market and we'll lean on the scales
[6:33] Speaker 1: if it needs to to make sure.
[6:34] Speaker 3: That happens exactly. And it's a huge threat.
[6:39] Speaker 2: So, I mean, it's not like Nissan was doing very
[6:42] Speaker 2: well anyway. They make about the same amount of cars
[6:45] Speaker 2: as Honda, and yet Honda has the market cap four
[6:47] Speaker 2: times larger than Nissan, so a real discount had been applied.
[6:51] Speaker 1: But did you actually get inside any of these BYD
[6:54] Speaker 1: cars you've seen, because I'm so curious about Everyone says
[6:57] Speaker 1: the fit and finish and the fabrication is really good quality,
[7:01] Speaker 1: which is the whole point. It's not that old idea
[7:04] Speaker 1: of what it means to be made in China. It's
[7:06] Speaker 1: actually very well made.
[7:08] Speaker 3: True.
[7:08] Speaker 2: I haven't gotten inside of any of them yet so far.
[7:11] Speaker 2: I've just seen them, you know, parked in the garage
[7:15] Speaker 2: under the central market.
[7:16] Speaker 3: But can you please I've.
[7:19] Speaker 2: Watched the breakdown videos of them, you know, and they
[7:23] Speaker 2: look pretty fantastic. I've heard from some analysts like Nicolas
[7:27] Speaker 2: over at Data Track.
[7:28] Speaker 3: He did a trip to check out the bid cars.
[7:30] Speaker 2: He said, they're plastic e, but there's still decent competitors,
[7:34] Speaker 2: especially at that price point. And guess what, so are
[7:37] Speaker 2: all other cars at that price point plastic e?
[7:39] Speaker 3: Even good cars are plastic Yeah, you know what?
[7:41] Speaker 1: And that's so interesting because Cox Automotive has their annual
[7:45] Speaker 1: recap call and then forecasting for twenty twenty five, and basically,
[7:50] Speaker 1: I mean one of the takeaways was that affordability sells
[7:55] Speaker 1: in the market today period. And you know, of course
[7:58] Speaker 1: we've got high interest rates in high prices that are
[8:01] Speaker 1: are affecting retail purchases and things are more expensive than ever,
[8:07] Speaker 1: so affordability cells that was kind of there.
[8:12] Speaker 3: I agree, it's kind of like.
[8:13] Speaker 1: A duh, but apparently more than ever going into twenty
[8:17] Speaker 1: twenty five.
[8:18] Speaker 2: Well, you know, Bloomberg News you may have seen a
[8:20] Speaker 2: few weeks ago, did a great story about how the
[8:23] Speaker 2: high price of new cars is driving even wealthy people
[8:26] Speaker 2: to abandon the new car market and look at used cars.
[8:29] Speaker 3: We interviewed I think a doctor in West.
[8:32] Speaker 2: Palm Beach who was like yo, I used to buy
[8:34] Speaker 2: a nu Mercedes or at least a Numercedes every two years,
[8:36] Speaker 2: and now the price has doubled, So I'm going to
[8:40] Speaker 2: look at the used market. It's it's the price is
[8:44] Speaker 2: really that are the big problem. They've just pushed so
[8:47] Speaker 2: many people out. And once you're once, you're not gonna
[8:51] Speaker 2: spend the money on something that the heart wants. Once
[8:54] Speaker 2: you start thinking about something that you know you need
[8:57] Speaker 2: or the wallet has to then and you no longer
[9:00] Speaker 2: care about paying a mid range price. So it's either
[9:03] Speaker 2: you get something that you really want, you send for it,
[9:06] Speaker 2: or you say no, I'll pay eleven thousand dollars.
[9:10] Speaker 1: Completely commute, right, yeah, completely completely. Another interesting thing that
[9:16] Speaker 1: Cocks shared to that point was that subcompike SUVs and
[9:21] Speaker 1: compact cars had the largest market shares in twenty twenty four,
[9:25] Speaker 1: and mid size SUVs and full size pickups had the
[9:29] Speaker 1: biggest loss. Again, to your point, like people are doubt,
[9:34] Speaker 1: they're they're gravitating smaller, and they're gravitating toward affordability.
[9:39] Speaker 3: For sure. In America, a full size pickup is a
[9:41] Speaker 3: luxury vehicle.
[9:42] Speaker 1: Now completely completely like I was really, you know, on
[9:46] Speaker 1: my end of your car list, we included, which we
[9:49] Speaker 1: discussed on your TV show, Uh, the Ford F two
[9:53] Speaker 1: point fifty King Ranch which starts at like seventy five
[9:56] Speaker 1: thousand dollars, which was a to me seemed oh wow,
[10:00] Speaker 1: got one under one hundred thousand.
[10:02] Speaker 3: Yes, I think for sure.
[10:03] Speaker 2: When when you say that price, I thought really for
[10:06] Speaker 2: the diesel, like, if I got an F two fifty
[10:09] Speaker 2: King r Ants with the big diesel motor, I would
[10:11] Speaker 2: expect to pay at least ninety grand I mean.
[10:14] Speaker 1: Yeah, that price doesn't include all the add ons and
[10:17] Speaker 1: extras we have. That's the qualifier. That's you know, like
[10:20] Speaker 1: the listed MSRP. I have a feeling if you go
[10:22] Speaker 1: to the automaker you might be suckered into adding some
[10:26] Speaker 1: things to that.
[10:27] Speaker 2: But by the way, we didn't, so that was on
[10:30] Speaker 2: my TV show, but we didn't talk about your list yet.
[10:32] Speaker 2: So well that ends on the big one. Yeah, it
[10:37] Speaker 2: is a great segue. So we'll end on that, but
[10:39] Speaker 2: I want to touch on a few others. Sure, because
[10:42] Speaker 2: I saw, I know, the Fiat Chinko.
[10:46] Speaker 1: One hundred what do you call it, Well, I call
[10:49] Speaker 1: it the five hundred D but chinkinta yeah that too.
[10:54] Speaker 2: I know that was on your list and we both
[10:56] Speaker 2: I loved that car. Also, I drove the five hundred,
[11:00] Speaker 2: the little electric Fiat five hundred in red, and I
[11:03] Speaker 2: thought it was amazing.
[11:04] Speaker 1: That goes to your point of if you're not going
[11:06] Speaker 1: to have a huge expense of something, just go the
[11:08] Speaker 1: opposite direction and get like the most affordable thing.
[11:13] Speaker 3: Yeah.
[11:13] Speaker 2: Well, to me, even that's a little bit luxurious because
[11:16] Speaker 2: it was over thirty grand.
[11:17] Speaker 1: Right, yes, yeah, I think thirty five.
[11:20] Speaker 2: For a compact electric car. I mean that seems a
[11:24] Speaker 2: little much if I'm trying to save money. I'm looking
[11:27] Speaker 2: for something used at like twenty, right, So I think
[11:31] Speaker 2: it's a it is deserving of a sort of a
[11:34] Speaker 2: slightly luxurious or let's say, premium, you know, price, because
[11:39] Speaker 2: it's the design is beautiful, the paint was so nice,
[11:42] Speaker 2: the interior is nicely laid out, it was fun to drive,
[11:45] Speaker 2: its zippy.
[11:47] Speaker 1: To me, that little car fell into the category of
[11:51] Speaker 1: it's something that feels special. And this is an aspect
[11:55] Speaker 1: of luxury that has nothing to do with price and
[11:58] Speaker 1: everything to do with how it makes you feel, and
[12:01] Speaker 1: the story behind it, and to me, with this Italian
[12:05] Speaker 1: heritage behind it, and just the attention to detail, like
[12:10] Speaker 1: you said, like it did look extremely sharp in the
[12:13] Speaker 1: liveries that they're offering. It just feels special. It has
[12:17] Speaker 1: nothing to do with the price necessarily, although yeah, thirty
[12:20] Speaker 1: six thousand dollars is nothing.
[12:23] Speaker 3: Well, so that's the thing it is.
[12:26] Speaker 2: I thought the price tag was to me, that's a
[12:29] Speaker 2: lot of money, right, because I could be getting two
[12:31] Speaker 2: great motorcycles for that. But then I saw a story
[12:34] Speaker 2: in Axios that says a Fiat dealership in Colorado is
[12:39] Speaker 2: offering a twenty twenty four Fiat five hundred E for
[12:42] Speaker 2: zero dollars per month and no down payment.
[12:46] Speaker 1: What's the catch.
[12:48] Speaker 2: That's what I'm looking for. You get ten thousand miles
[12:50] Speaker 2: a year. I'm reading the Axios story. Ten thousand miles
[12:53] Speaker 2: a year for free. You have to pay taxes totaling
[12:58] Speaker 2: thirteen hundred plus regiment registration fees of three ninety five.
[13:03] Speaker 2: You have to pay a disposition fee at the end
[13:05] Speaker 2: of the lease. Of the twenty seven months lease. I
[13:08] Speaker 2: don't know what it is, but I think the idea
[13:13] Speaker 2: is they just want the credits.
[13:17] Speaker 3: Interesting, they just want the sort of EPA credit.
[13:22] Speaker 2: Yeah, so I guess at the end you pay the
[13:26] Speaker 2: disposition fee is fairly substantial. It's like seventeen thousand, okay,
[13:30] Speaker 2: but still for twenty seven months and nothing up front.
[13:37] Speaker 2: Like if you want a car now and you only
[13:38] Speaker 2: have thirteen well, let's say fifteen ninety five in cash,
[13:43] Speaker 2: you can pay nothing for the next two years and
[13:45] Speaker 2: three months.
[13:46] Speaker 1: This is in Colorado.
[13:47] Speaker 2: Yeah, okay, all right, let's get to the big Cahuna.
[13:52] Speaker 3: Car of the year.
[13:53] Speaker 1: Car of the year. Anyone who's really followed along won't
[13:57] Speaker 1: be surprised. It's the twelve cylinder Ferrari, the Ferrari Dodchi Chilindre.
[14:02] Speaker 1: I still am probably gonna get killed for saying it
[14:05] Speaker 1: like that, but.
[14:06] Speaker 2: I think Americans are safe just calling it the twelve cylinder,
[14:09] Speaker 2: right if you.
[14:11] Speaker 3: If you walk into your Ferrari dealer.
[14:13] Speaker 2: And you and they know you, and you know them,
[14:16] Speaker 2: and you're there to pick up you say, hey, I'm
[14:18] Speaker 2: here to pick up my twelve fells.
[14:20] Speaker 1: Also, yeah, but also there are many there are multiple
[14:24] Speaker 1: twelve cylinder Ferraris. So it is a little confusing. I mean,
[14:27] Speaker 1: admittedly so, and I do think Ferrari laughs. I think
[14:32] Speaker 1: this is their inside joke of if you can't speak
[14:35] Speaker 1: the language, then maybe you shouldn't buy the car. You know,
[14:39] Speaker 1: I might have This feels very wink in a nod,
[14:43] Speaker 1: But at any rate, I love this car so much
[14:46] Speaker 1: because it's unusual and it has a point of view
[14:49] Speaker 1: and a personality in a sea of appliances. Yes, it's expensive,
[14:55] Speaker 1: it's almost. It's four hundred and fifty nine thousand dollars starting.
[14:59] Speaker 1: It's a now vitually aspirated V twelve. It looks kind
[15:05] Speaker 1: of like a Ferrari Daytona at the front. It's got
[15:08] Speaker 1: some interesting elements in the rear, like just almost it's
[15:13] Speaker 1: I don't want to call it a hatchback, but it's
[15:16] Speaker 1: It kind of looks like a Ferrari FF, which I
[15:18] Speaker 1: know we all love and underrated. I just like it.
[15:21] Speaker 1: It's weird. The interior is very similar and just like
[15:27] Speaker 1: the Ferrari Roma, another Ferrari that I love. It's got
[15:31] Speaker 1: a good combination of screens and actual buttons and knobs.
[15:35] Speaker 1: Of course, it drives beautifully. It's so fast. Zero to
[15:39] Speaker 1: sixty two is two point nine seconds. I just love it.
[15:45] Speaker 1: It's got a personality. It's cool, and I think it's
[15:47] Speaker 1: going to age really beautifully too.
[15:51] Speaker 2: I don't think you're wrong. I definitely agree with you.
[15:54] Speaker 2: I think there's some weirdness about it. It's weird, yeah,
[15:58] Speaker 2: which which is cool because, let's face it, if you
[16:02] Speaker 2: just want a beautiful, elegant, you know, pen and Farina
[16:08] Speaker 2: penned Ferrari twelve cylinder, there are many out there to
[16:11] Speaker 2: choose from.
[16:12] Speaker 3: They've already done that.
[16:13] Speaker 2: You know. They have to push the boundaries a little
[16:16] Speaker 2: bit because you know, I can go buy a five
[16:20] Speaker 2: point fifty Maronello if I want a gated shifter, if
[16:23] Speaker 2: I want a new one, I can get an a
[16:24] Speaker 2: twelve super Fast if I have the money, obviously, and
[16:28] Speaker 2: if you.
[16:29] Speaker 3: Have all those, you want something that looks a little
[16:31] Speaker 3: bit different.
[16:32] Speaker 1: Yeah, And it's.
[16:34] Speaker 3: Different but same, same, it's very similar. It's in the
[16:38] Speaker 3: in the same.
[16:40] Speaker 1: When you look at it, you know it's a Ferrari,
[16:42] Speaker 1: but you also know, oh, it's that Ferrari, like, oh,
[16:46] Speaker 1: you know it's that one. You know it's obviously a Ferrari,
[16:49] Speaker 1: but it's also a very specific Ferrari.
[17:02] Speaker 2: So we're gonna play the interview of Benedette Opina, the
[17:05] Speaker 2: CEO Ferrari, you dropped by the office, and I have
[17:09] Speaker 2: all of these like poor person questions, why don't you
[17:12] Speaker 2: make a stick shift? You know, why all the computers?
[17:14] Speaker 2: Why are you downsizing to a V six for the
[17:17] Speaker 2: supercar for the F eighty And what I realized when
[17:21] Speaker 2: I spoke with him is something that's obvious and that
[17:25] Speaker 2: shows up in the comments every time.
[17:27] Speaker 3: It's not for me.
[17:28] Speaker 2: I'm not their target market. You know, frankly, very few
[17:32] Speaker 2: of our listeners are going to be their target market.
[17:35] Speaker 2: I mean, yes, you quoted that four hundred whatever, but
[17:38] Speaker 2: the truth is you're not gonna get it unless you've
[17:40] Speaker 2: already bought like three or four other five hundred thousand
[17:43] Speaker 2: dollars Ferraris. So it's a totally different group of people
[17:48] Speaker 2: who genuinely give zero f about having a stick shift
[17:52] Speaker 2: or the purest you know, automotive feeling. They want the
[17:57] Speaker 2: newest thing that's closest to F one technology that they
[18:00] Speaker 2: can get that screams, I'm so rich that I don't
[18:05] Speaker 2: need to be able to.
[18:06] Speaker 3: Pronounce the name of the car I bought, you know.
[18:08] Speaker 1: Ah, yes, And you know, of course, the rest of
[18:12] Speaker 1: us love to dream and That's part of the beauty
[18:15] Speaker 1: of cars and sharing cars, because you still we still
[18:19] Speaker 1: feel like we can almost touch it, and we can
[18:22] Speaker 1: imagine what color we would get if we were getting one,
[18:25] Speaker 1: and we can imagine how we would spect the interior.
[18:28] Speaker 1: And I have to say, I don't think every person
[18:32] Speaker 1: who buys a Ferrari is the type of person that
[18:34] Speaker 1: you describe.
[18:35] Speaker 2: I you know, now the newest Twelves Billainder from the dealer, right.
[18:41] Speaker 1: No, Look, there are plenty of Ferrari owners who I've
[18:44] Speaker 1: spoken with, justin in reporting, who are truly nice, humble
[18:48] Speaker 1: people who love the cars because they are really sublime
[18:52] Speaker 1: to drive, and they're really beautiful, and who happened to
[18:55] Speaker 1: think that beauty beauty for its own sake is worth
[18:59] Speaker 1: a lot. And I think there have been some other
[19:02] Speaker 1: cars that we've discussed that are like almost deliberately ugly
[19:06] Speaker 1: or jarring, and this is the opposite of that. This
[19:10] Speaker 1: is like beauty is as important as everything else that
[19:12] Speaker 1: goes into making a car, which I'm seeing less and
[19:15] Speaker 1: less of. So yeah, obviously there are some people who
[19:19] Speaker 1: just buy it so they can show off, but not
[19:22] Speaker 1: everyone who buys a Ferrari is like that.
[19:24] Speaker 2: For sure, No, there are people who appreciate the quality
[19:27] Speaker 2: and the technology.
[19:28] Speaker 3: I'm just saying for the MEAs of the world.
[19:31] Speaker 2: I look at the puro sing whatever you call it,
[19:33] Speaker 2: the purosangua, right, yeah, and you need like a Google
[19:39] Speaker 2: developed quantum computer to be able to run each corner
[19:43] Speaker 2: of the suspension, which is insane.
[19:46] Speaker 3: Just give me coil over shocks, you know. So I
[19:49] Speaker 3: don't know.
[19:49] Speaker 2: Anyway, let's get into the interview here. As Benedetto Vinya,
[19:53] Speaker 2: the CEO of Ferrari, Ferrari had it turns out a
[19:57] Speaker 2: great season. I mean, fantastic improvement. You almost won the
[20:00] Speaker 2: Constructors Championship. You're only fourteen points off. What did you think?
[20:04] Speaker 4: I think that the team did a great job. This
[20:06] Speaker 4: year has been, as you said, fantastic year. Unfortunately we
[20:10] Speaker 4: were not the first one, but I congratulated really with
[20:13] Speaker 4: all the team, from Fred, the all the mechanics engineers,
[20:18] Speaker 4: the two pilot. I think this is a good launch
[20:20] Speaker 4: pedals for next year. I think that really the team
[20:25] Speaker 4: to serve a big thank you gratzia from all the
[20:28] Speaker 4: people from the fan, from the colleague.
[20:31] Speaker 5: So I'm very very happy.
[20:32] Speaker 2: I mean, it's you know, in my mind, Ferrari is
[20:35] Speaker 2: more connected to Formula One than pretty much any other brand.
[20:40] Speaker 2: And I grew up with Michael Schumacher and the Tifosi,
[20:44] Speaker 2: I mean total domination. It was amazing. And now you
[20:49] Speaker 2: have the chance to hire, or you have hired, you
[20:52] Speaker 2: have the chance to race with someone else who people
[20:55] Speaker 2: think may be the greatest driver of all time. What
[20:57] Speaker 2: are you looking forward to doing in twenty twenty five
[21:00] Speaker 2: with Lewis Hamilton.
[21:01] Speaker 4: We are looking for Louis to join our team. We
[21:03] Speaker 4: are looking for another great season. We will do our
[21:08] Speaker 4: best to make sure that, let's say we achieve we
[21:11] Speaker 4: are competitive. I think it's important in this sport, like
[21:14] Speaker 4: in all the sport, to be competitive and to be
[21:17] Speaker 4: always to give the best. What is important in this sport,
[21:21] Speaker 4: and this is the sense of our brand, is to
[21:24] Speaker 4: keep alive, the will to progress, the will to make
[21:27] Speaker 4: always something better. I think Lewis will contribute will help us.
[21:32] Speaker 2: I mean you are competitive already, you showed this year
[21:34] Speaker 2: and he is obvious an incredibly skilled driver.
[21:38] Speaker 5: But I think you know, a lot.
[21:39] Speaker 2: Of people feel that either Ferrari was selling cars to
[21:43] Speaker 2: race or racing to sell cars. And when we were
[21:47] Speaker 2: just talking to you, and I just sat in a
[21:49] Speaker 2: conference room and had an off record conversation.
[21:51] Speaker 5: For a little bit.
[21:52] Speaker 2: I think you highlighted the important sort of symbiotic relationship
[21:55] Speaker 2: between racing and business. It's not one or the other,
[21:59] Speaker 2: not one for the other, but they both really help
[22:01] Speaker 2: each other.
[22:02] Speaker 5: The same biosis, as you say, is very important. Matt.
[22:05] Speaker 4: I think, as I told you, there are three important
[22:08] Speaker 4: message and values for the racing team for the company overall.
[22:12] Speaker 4: One is all the technology innovation we do on the
[22:16] Speaker 4: track that we can bring on the road. Two, it
[22:18] Speaker 4: gives us a commercial platform. It is interesting for mini
[22:21] Speaker 4: sponsors many players that share the same values. And three,
[22:25] Speaker 4: it is a constant reminder that the only way for
[22:28] Speaker 4: a company to business stadium well in the long term
[22:30] Speaker 4: is this continuous will to progress and aving a sport
[22:34] Speaker 4: team embedded in the company. I think it's a big
[22:38] Speaker 4: asset because really it remembers all of us that one
[22:40] Speaker 4: weekend you went in that the one may you may lose,
[22:44] Speaker 4: but you never lose you always learn. That's very important.
[22:47] Speaker 2: I mean, I think it's fascinating, a fascinating way to
[22:49] Speaker 2: think about it. And also you mentioned the will to progress,
[22:52] Speaker 2: and I'm an old guy the kind who's stuck in
[22:56] Speaker 2: the past. I was really surprised when you came out
[22:59] Speaker 2: with the eighty that had a V six, because I
[23:02] Speaker 2: have thought, you know, a Ferrari supercar has to have
[23:06] Speaker 2: a V twelve or a turbo charged V eight. You know,
[23:10] Speaker 2: I'm from the days of the F forty when I
[23:12] Speaker 2: was in high school. That was the poster you know
[23:14] Speaker 2: we had on.
[23:15] Speaker 5: Eh turbo, Yeah, eh turbo exactly.
[23:18] Speaker 2: And then I looked on your website and I saw
[23:20] Speaker 2: welcome to the era of V six. I think it
[23:22] Speaker 2: was on the two ninety six if you click internet.
[23:26] Speaker 2: Is that directly derived from Formula one racing? Is that
[23:29] Speaker 2: from the power plant on the track? That's what you
[23:31] Speaker 2: want in your most important supercoar.
[23:33] Speaker 4: I would like to tell you that today if you
[23:35] Speaker 4: take a Lemon Iper car, if you take F one,
[23:37] Speaker 4: they are all V six hybrid.
[23:39] Speaker 5: Yeah.
[23:40] Speaker 4: And when you think about the pinnacle of the technology,
[23:43] Speaker 4: when you want to do something that is pushing the limit,
[23:46] Speaker 4: well you need to stick to something that is the
[23:49] Speaker 4: living digis performances, and V six hybrid is one of those.
[23:52] Speaker 4: Just consider that our thermal engine in that car is
[23:57] Speaker 4: more than three hundred or spower per liter, and then
[24:00] Speaker 4: on top of the three leaders you ad the additional
[24:03] Speaker 4: three hundred terminal let's say.
[24:06] Speaker 5: Electric horse power.
[24:07] Speaker 4: So I think you have to pick always the best
[24:09] Speaker 4: technology for the supercar, because the supercar is epitome of
[24:13] Speaker 4: the best let's say car you can make with technology
[24:17] Speaker 4: you have available at that time.
[24:18] Speaker 2: You also, though, pay homage to your heritage with design cues.
[24:24] Speaker 2: I mean, in the twelve cylinder car, I can see
[24:26] Speaker 2: the Daytona very clearly, and the SUV, the puro saying.
[24:31] Speaker 5: No, no, no, no no. The suv, Matt, we don't make suv.
[24:33] Speaker 5: We suv is a sport utility.
[24:37] Speaker 2: Okay, fair, I'm just trying to avoid an attempt at
[24:41] Speaker 2: pronouncing the Italian name because I know I'm going to
[24:43] Speaker 2: butcher heuro sanguine.
[24:45] Speaker 5: I mean, you still have.
[24:46] Speaker 2: The naturally aspirated V twelve of.
[24:48] Speaker 5: The past, you know.
[24:50] Speaker 2: Is it tough to on the one hand always be
[24:52] Speaker 2: reaching forward, you know, a technology and progress, and on
[24:56] Speaker 2: the other hand, you have to pay homage to such
[24:59] Speaker 2: an important, such an iconic past.
[25:02] Speaker 5: That's the beauty of Ferrari.
[25:03] Speaker 4: That's the beauty of a luxury company as Ferrari, that
[25:06] Speaker 4: is putting together the past and the future. That is
[25:08] Speaker 4: putting together the technology for the sake of delivering unique
[25:12] Speaker 4: emotion to our client. Because when you have the opportunity
[25:16] Speaker 4: to work for a company as Ferrari, everyone from first
[25:19] Speaker 4: to lust can put together the two dimensions the past
[25:22] Speaker 4: in the future. I like to say, in this way,
[25:24] Speaker 4: we all have two eyes. Okay, with one eye we
[25:27] Speaker 4: look at the past. With one eye we look at
[25:28] Speaker 4: the future, and then we have the brain that is
[25:30] Speaker 4: putting them together. That's what we do. Everyone in Ferrari
[25:33] Speaker 4: is doing it this way. It's not good when you
[25:35] Speaker 4: look only to the past. It's not good. Only when
[25:38] Speaker 4: you look, let's say, only to the futures. To look
[25:42] Speaker 4: at both dimensions and put them together. And that's what
[25:44] Speaker 4: we do.
[25:45] Speaker 2: I always wonder, and I'm sure everyone asks you. I
[25:49] Speaker 2: know Hannah has said. She asked, already are we ever
[25:52] Speaker 2: going to see a manual transmission in a Ferrari again?
[25:55] Speaker 2: Because I had the opportunity to drive a listener's car.
[26:00] Speaker 2: He has a three P fifty five and with the
[26:02] Speaker 2: gated shifter einety seven, I mean like goosebumps. I had
[26:06] Speaker 2: the hair standing up on the back of my neck
[26:08] Speaker 2: and just you know I wasn't perfect at doing my shifts,
[26:12] Speaker 2: but I thought, if I had this car, I would
[26:14] Speaker 2: spend every day practicing like it's such an amazing feeling,
[26:17] Speaker 2: the sound, And of course it's not the fastest sports
[26:21] Speaker 2: car in the world, it's probably no longer the best
[26:23] Speaker 2: handling sports car. But it was just the involvement and
[26:27] Speaker 2: the gratification that I got from hitting it right was
[26:30] Speaker 2: an amazing experience. Do we ever get that again?
[26:33] Speaker 5: Look, one point that we do with Ferrari, we never
[26:36] Speaker 5: disclosed what's gonna be the future.
[26:38] Speaker 4: It's part of this ability, it's part of the secrecy
[26:42] Speaker 4: we keep. But I can't tell you that in Ferrari
[26:45] Speaker 4: we did in the past, we are doing and what
[26:47] Speaker 4: we will do in the future. Is always to start
[26:50] Speaker 4: from the drivers, because we want to harmss the technology,
[26:54] Speaker 4: whatever they are, in a way that delivery unique emotion
[26:57] Speaker 4: to the driver. This is really important. I mean, we cannot.
[27:02] Speaker 4: I don't like to start from technology. The company does
[27:05] Speaker 4: not start from technology. The company is starting, is putting together,
[27:08] Speaker 4: is starting. Everything starts from the driver.
[27:12] Speaker 5: That's it. That's that's very important.
[27:13] Speaker 2: But you also have, I mean, the most net technologically
[27:16] Speaker 2: advanced cars in the world. I was looking at the
[27:19] Speaker 2: pure saying the suspension system is just otherworldly. I mean
[27:24] Speaker 2: it's like nothing else with the spool valve shocks, but
[27:28] Speaker 2: also truly active suspension. Isn't it tough to stay on
[27:34] Speaker 2: the forefront like that?
[27:35] Speaker 4: And we we call it fast Ferrari Active suspension technology.
[27:40] Speaker 4: It is really unique. I mean I tried the Prosign.
[27:44] Speaker 4: We own some racing track and I can tell you
[27:47] Speaker 4: it's very sporty. I use this car daily and they
[27:50] Speaker 4: have a lot of fun because you really when you
[27:53] Speaker 4: when you corner you, you you feel yourself in a
[27:57] Speaker 4: in a sports car is not something the reason why
[28:00] Speaker 4: I was telling you is not an suv because suv
[28:03] Speaker 4: is bulky, is not at all sporty. And you feel
[28:08] Speaker 4: the weight well in our Prosy despite the fact that
[28:12] Speaker 4: the weight is two point one tone, you don't feel
[28:15] Speaker 4: it all the weight because with the electro mechanical components,
[28:18] Speaker 4: the Fast Ferrari active suspension technology, you don't feel the weight.
[28:21] Speaker 5: It is very light, I can imagine.
[28:24] Speaker 2: But I wonder about the difficulties of maintaining that kind
[28:27] Speaker 2: And I know maintaining a Ferrari has never been terribly
[28:31] Speaker 2: inexpensive endeavor, but how many microchips are in each corner
[28:37] Speaker 2: of the suspension. And then you've got the passenger screen
[28:40] Speaker 2: from which he or she can control most of the car.
[28:43] Speaker 2: You know, obviously not driving, but it just seemed like
[28:46] Speaker 2: a lot of tech packed in one car.
[28:48] Speaker 4: There is a lot of tech here, right, the a
[28:49] Speaker 4: lot of microchips, the Ferrari, the fast. Let's say you
[28:54] Speaker 4: are full of electric components, mechanical component.
[28:57] Speaker 5: There is a lot of software behind.
[28:59] Speaker 4: There are chips, there are sensors, there are micro controllers,
[29:02] Speaker 4: there are a power components. But let's say they are
[29:06] Speaker 4: all blended in a way to make sure that the
[29:09] Speaker 4: car is cornering in the right way. You don't lose,
[29:11] Speaker 4: you don't feel the weight. And I would like to
[29:14] Speaker 4: say the following. There are many different kinds of software
[29:17] Speaker 4: in a car. I like to say there are four
[29:19] Speaker 4: classes of software. There is a basic software, like the
[29:22] Speaker 4: software you needed to raise up and down the window.
[29:25] Speaker 4: There is the vehicle dynamic software. There is HMI software,
[29:28] Speaker 4: and there is autonomous drive software. Well, autonomous drive we
[29:31] Speaker 4: don't care too much apart from the one that are
[29:33] Speaker 4: demanded by the regulation. HMI for us is a mirroring
[29:37] Speaker 4: of what is on the radio and mobile phone or
[29:39] Speaker 4: whatever on the screen. So we invest and we develop
[29:42] Speaker 4: software for vehicle dynamics because that's where the people can
[29:47] Speaker 4: feel better and can have the Ferral experience.
[29:58] Speaker 2: On the one hand, I feel like in my mind
[30:00] Speaker 2: I'm a purist, right, but I'm not a lot. I
[30:03] Speaker 2: don't want to go back to carburetors. I don't want
[30:06] Speaker 2: to have no abs, you know, I need traction control,
[30:10] Speaker 2: especially if I have nine hundred twelve hundred. But in
[30:14] Speaker 2: a sense you have to become somewhat of a technology
[30:17] Speaker 2: company then right, And I mean that makes sense you
[30:19] Speaker 2: come from st Micro, But do you have to hire
[30:21] Speaker 2: coders at Ferrari? Do you need to develop your own
[30:24] Speaker 2: software and house or way?
[30:26] Speaker 4: When I came in the company in Inferrari three years ago,
[30:30] Speaker 4: I had the opportunity to talk with a lot of
[30:32] Speaker 4: engineers with a different background aerodynamic, mechanical, electronic, digital software.
[30:39] Speaker 4: I was really surprised by the death of know how
[30:43] Speaker 4: that is there. And you understand when you see the
[30:46] Speaker 4: kind of car that the team is able to do,
[30:48] Speaker 4: but really that the amount of know how that is
[30:53] Speaker 4: in this company is really unique. There is a lot
[30:55] Speaker 4: of innovation, There is a lot of dedication, a lot
[30:57] Speaker 4: of sense of belonging, a lot of passion. I feel
[31:00] Speaker 4: daily the passion they put to make something unique all
[31:04] Speaker 4: the time.
[31:04] Speaker 2: I actually want to talk about that. How did you
[31:07] Speaker 2: come to this job? You were telling us earlier that
[31:10] Speaker 2: you when you came in, you hit the book, started
[31:13] Speaker 2: reading everything you could about all the technological innovations that
[31:17] Speaker 2: you would need to deal with. You obviously have a
[31:19] Speaker 2: text savvy background to begin with, but you have to
[31:22] Speaker 2: have had a passion for cars.
[31:23] Speaker 5: Also.
[31:24] Speaker 2: It's not like Johnny Elkhon would hire someone who doesn't
[31:28] Speaker 2: care about cars to come and run his you know,
[31:30] Speaker 2: Crown Jewel.
[31:31] Speaker 5: So what was it. I've been always in love with cars.
[31:35] Speaker 4: I've been always in love with a product where technology
[31:40] Speaker 4: allow people to leave unique moments to deliver emotion.
[31:44] Speaker 5: So in those I able to say that.
[31:47] Speaker 4: I like also to work for companies where there is
[31:49] Speaker 4: a lot of heritage you can build on. So Ferrari
[31:53] Speaker 4: was my dream. It was also a place where you
[31:56] Speaker 4: can put together the past and the future. You put
[31:59] Speaker 4: together the story telling and the technology. I transition to
[32:03] Speaker 4: this world and with the team and all the members,
[32:07] Speaker 4: I'm having a lot of fun and there is only
[32:10] Speaker 4: one problem with Ferrari.
[32:11] Speaker 5: You know what which one is, which car to choose.
[32:14] Speaker 4: Which car to choose? Yes, but there is also another one,
[32:16] Speaker 4: the time of flies. I mean I was there three
[32:19] Speaker 4: years and a half ago. It looks like yesterday because
[32:22] Speaker 4: you see, I mean when I get out of the
[32:24] Speaker 4: office in the evening, when you see all these beautiful
[32:27] Speaker 4: cars standing on the road, when you see client coming
[32:30] Speaker 4: to see our car. We see that in the event
[32:34] Speaker 4: when we try the car on the test track, as
[32:37] Speaker 4: you say, you have goosebumps. Yes, I mean I have
[32:39] Speaker 4: the portunity to try with the test drivers different kind
[32:42] Speaker 4: of car on the test track, and it's really incredible
[32:46] Speaker 4: how the car is able to be very unique emotion
[32:49] Speaker 4: to us.
[32:50] Speaker 2: So what are your favorite? I know it's differ the
[32:54] Speaker 2: next one, okay, but I mean, like I look at
[32:57] Speaker 2: some of the even recent vehicles you've put out and
[33:00] Speaker 2: I'm just blown away, Like the roma is something that
[33:03] Speaker 2: I never would have expected from Ferrari. And it's also
[33:08] Speaker 2: i mean the entry level Ferrari or I don't know
[33:11] Speaker 2: how you describe it in the company's but I think
[33:13] Speaker 2: it's one of the most beautiful vehicles that I've ever seen.
[33:16] Speaker 5: Our car.
[33:18] Speaker 4: There are two extreme if you want. One is for
[33:20] Speaker 4: pilot and one is for sport car drivers. We have
[33:23] Speaker 4: different kind of car. We have Drama Spider. We have
[33:25] Speaker 4: the two ninety six GTB and the Git and the Spider.
[33:29] Speaker 4: Also V six we have yeah, v SX hybrid. Yeah,
[33:33] Speaker 4: we have the V eight hybrid that is s F
[33:36] Speaker 4: ninety Now. We have also a special version the XX
[33:38] Speaker 4: Spider and coupe. We have Supercar. We have the puras
[33:42] Speaker 4: I think you know. For us, it's a different Ferrari
[33:46] Speaker 4: for different moments, different Ferrari for different Ferraricti, for different
[33:50] Speaker 4: kind of client.
[33:51] Speaker 5: It depends what you want to do.
[33:52] Speaker 2: Are there any holes in that? Are there any product
[33:54] Speaker 2: holes where you're like, I think we need a station
[33:57] Speaker 2: wagon or you.
[33:58] Speaker 5: Know, we need a truck. Now I think we need.
[34:00] Speaker 2: You know, a four doors? Yeah, I mean is there
[34:02] Speaker 2: anything I think a pickup truck that would be fantastic?
[34:04] Speaker 4: Okay, Today, as I say, we are working on a
[34:09] Speaker 4: lot of interesting product we Unfortunately you are so kind,
[34:15] Speaker 4: you are very hospital here. Unfortunately I cannot, I mean
[34:19] Speaker 4: we cannot discuss. We're paying too much attention.
[34:21] Speaker 2: Which of these cars means the most to you? I mean,
[34:23] Speaker 2: I imagine the Roma was already in production when you
[34:25] Speaker 2: came on board, but it was the first the Roma.
[34:29] Speaker 4: Okay, when the first car that I saw that we
[34:33] Speaker 4: announced that after I get in the company was the Daytona.
[34:37] Speaker 4: Because I got in the company in September, it was
[34:39] Speaker 4: announcing in November and the team already did all the job,
[34:42] Speaker 4: all the work.
[34:43] Speaker 5: That was very.
[34:44] Speaker 4: Important for me because if you want this the first
[34:46] Speaker 4: car we decided together with the team, the name of
[34:48] Speaker 4: the car, I will always remember.
[34:51] Speaker 5: It's a fantastic name.
[34:52] Speaker 2: I've then on the bank turns of Daytona Raceway, which
[34:56] Speaker 2: is amazing experience in itself.
[34:59] Speaker 5: I imagine me too.
[35:00] Speaker 4: I mean, and then if you consider also what happened
[35:02] Speaker 4: over the nineteen sixty seven with the tree Ferrari.
[35:05] Speaker 5: Yes, that's really your history. That's really good bad.
[35:09] Speaker 2: Yes, not to mention the fact that I'm pretty sure
[35:12] Speaker 2: there's a Daytona in Miami. Vice right, he has a
[35:15] Speaker 2: test Rosa and a Daytona.
[35:17] Speaker 4: There is a turnabout that was a three sixty five
[35:20] Speaker 4: g TB. Yes, and I remember because that was it
[35:24] Speaker 4: was announced when I was born in nineteen sixty nine.
[35:28] Speaker 4: You know, Ferrari is a lot of cars. And you
[35:30] Speaker 4: know how I remember the year of announcement of those cars.
[35:34] Speaker 4: I associated those cars to people. I know that in
[35:36] Speaker 4: nineteen seventy five, three eight, nineteen ninety seven.
[35:39] Speaker 5: And what what what are you my car? Three eight?
[35:41] Speaker 2: You associate that with Magnum by sister, your sister, So
[35:44] Speaker 2: people you personally know.
[35:46] Speaker 4: I associate with people I know because it's easier for
[35:48] Speaker 4: me to remember this way otherwise. I mean, there are
[35:51] Speaker 4: a lot of model I mean the company did in
[35:54] Speaker 4: seventy seven years. We did around the two hundred and
[35:57] Speaker 4: fifty different kind of sports cars, tc. So I had
[36:01] Speaker 4: to find my own way. I still do a lot
[36:05] Speaker 4: of mistake, but I keep improving. So a few months
[36:09] Speaker 4: ago I send a message to the people reporting to me.
[36:11] Speaker 4: To each of them, I send the cars. So I
[36:13] Speaker 4: have one guy in nineteen eighty four this year turned
[36:16] Speaker 4: forty and it's a two eighty eighty g t O.
[36:19] Speaker 5: Very nice. You know, in this case it's easier. In
[36:22] Speaker 5: this case, it's easier.
[36:23] Speaker 4: But I have another another colleague in nineteen sixty four
[36:25] Speaker 4: to fifty GT.
[36:26] Speaker 5: Loso. I remember in.
[36:27] Speaker 2: This way, also a fantastic product. Do you have any
[36:30] Speaker 2: favorites of the classics. I mean, you have a great
[36:32] Speaker 2: gto presentation on your website, and that's an amazing car
[36:36] Speaker 2: for me, though, the magnum pi Ferrari is what kind
[36:39] Speaker 2: of defines, at least in my brain.
[36:41] Speaker 4: You know, there are several of them. The first one
[36:44] Speaker 4: I tried when I was here in the US end
[36:46] Speaker 4: of nineties was the f fifty.
[36:50] Speaker 5: There was so I.
[36:51] Speaker 4: Will always remember that that experience. But there is also
[36:55] Speaker 4: the two fifty git los and thirty sixty four.
[36:58] Speaker 5: I like a lot.
[36:59] Speaker 2: It's a very beautiful car, are of course quite pricey
[37:01] Speaker 2: at this point.
[37:02] Speaker 4: There is okay, it's not so old, it's not classic
[37:05] Speaker 4: because it's still younger than twenty years. There is the
[37:08] Speaker 4: four to five eight. There is a eight that is
[37:11] Speaker 4: for the pista is great, but that I mean it depends.
[37:17] Speaker 4: This summer. In July, I tried with a colleague the
[37:20] Speaker 4: Testarossa nineteen fifty seven. Wow, beautiful, beautiful, only four gears,
[37:27] Speaker 4: incredible how you can push each gear?
[37:33] Speaker 5: Of course not you no door to open, you have
[37:36] Speaker 5: to jump in.
[37:37] Speaker 2: So an incredible history. What about the people that work there,
[37:40] Speaker 2: I mean, you've talked a lot about when we were
[37:42] Speaker 2: having our conversation earlier.
[37:43] Speaker 5: The competence that you saw.
[37:45] Speaker 2: You were struck by the competence of the people working there.
[37:48] Speaker 2: But I wonder about also the culture. I mean in
[37:52] Speaker 2: the motor Valley. This is a place where cars are
[37:56] Speaker 2: more important than probably you know, any other place besides Stuttgarden, Detroit, right,
[38:00] Speaker 2: So it's one of the main hotspots for car culture.
[38:04] Speaker 4: It's true, it's an odd spot, the motor valid There
[38:06] Speaker 4: are a lot of competence over there, and the competents keep growing.
[38:10] Speaker 4: The competents keep accruing over the time because for example,
[38:14] Speaker 4: in motor vality, ill you know, five years ago you
[38:17] Speaker 4: did not want needed to have competence in chemistry, Now
[38:21] Speaker 4: you need to have them. Why because electric car needs
[38:25] Speaker 4: batteries and you need to have these competence. So it's
[38:27] Speaker 4: a place where the people know a lot, but also
[38:31] Speaker 4: they are willing to learn a lot. And I think
[38:33] Speaker 4: this is really important because I think that to be
[38:36] Speaker 4: sustainable as a team in the future, you need to
[38:40] Speaker 4: know a lot, but also you need to be ready
[38:43] Speaker 4: to learn a lot from whoever you from all the
[38:46] Speaker 4: people in the world. So what we did, for example,
[38:50] Speaker 4: in this respect, we created together with University and other
[38:53] Speaker 4: companies laboratory to develop, to understand and to develop the
[38:57] Speaker 4: next generation chemistry for the battery for the cell. So
[39:00] Speaker 4: that's very important because we as a company, we will
[39:04] Speaker 4: keep doing the thermal cars, naturally aspirated, we will do
[39:08] Speaker 4: the eybrid car, and.
[39:10] Speaker 5: We will do also we will do alls electric car.
[39:13] Speaker 5: Like you brought that up.
[39:14] Speaker 2: I almost forgot about it because I really couldn't care
[39:16] Speaker 2: much less about EV's. But you're still going to go
[39:19] Speaker 2: ahead with it. You just told us earlier. You're still
[39:23] Speaker 2: looking at releasing it. What a fourth quarter of twenty
[39:25] Speaker 2: twenty five. Even though other supercar makers haven't fared so
[39:29] Speaker 2: well EV's the market seems soft.
[39:32] Speaker 4: Look don't I don't comment about others because each one
[39:35] Speaker 4: has its own strategy.
[39:36] Speaker 5: But can you develop a passionate EV I think.
[39:40] Speaker 4: That this is a you know, it's a big opportunity
[39:43] Speaker 4: for us because it's a challenge, and we like to
[39:45] Speaker 4: take the challenge because the only way for us to
[39:49] Speaker 4: push the limit forward is to take challenge and to
[39:53] Speaker 4: master a unique way. Today, the interpretation we are giving
[39:57] Speaker 4: to our electric car is a our interpretation. So we
[40:02] Speaker 4: believe in the possibility to use this technology to the
[40:05] Speaker 4: unique emotion. We said the three years twenty twenty two,
[40:09] Speaker 4: we said, unveil in Q four twenty five, and we
[40:12] Speaker 4: are on track. We are testing on different tracks, and
[40:16] Speaker 4: you have to be able to wait still a few quarters.
[40:19] Speaker 5: I will.
[40:19] Speaker 2: But I mean I remember hearing stories and these may
[40:22] Speaker 2: have been unfounded rumors that aren't true, that when Ferrari
[40:26] Speaker 2: engineers first had to use turbo chargers, they were very
[40:29] Speaker 2: unhappy about bringing and now and now and now we
[40:32] Speaker 2: prize those vehicles, right, But I wonder can you do
[40:35] Speaker 2: that again with evs? I mean, do your engineers think
[40:38] Speaker 2: that it's capable of having a soul?
[40:40] Speaker 4: And Matt, I think that thinking about what's happening in
[40:44] Speaker 4: the world in general, about the main kind, there are
[40:46] Speaker 4: two things that scared people. One the fear of the
[40:52] Speaker 4: new and to the fear of the different, of the diverse.
[40:56] Speaker 4: I mean, if you see no over the course of
[40:58] Speaker 4: his story. So it's normally that people are scared about
[41:02] Speaker 4: the new. I like to say that innovation is not
[41:05] Speaker 4: democratic in the sense that not all the people see
[41:08] Speaker 4: the innovation, because if all the people would see the innovation,
[41:12] Speaker 4: then it we call it the production. I think we
[41:14] Speaker 4: see the opportunity to use also the electric and that
[41:18] Speaker 4: like to say electric engine not to motors, just to
[41:20] Speaker 4: feel it closer to the thermal engine in a unique way.
[41:24] Speaker 4: I think it's an interesting challenge. We are priest at
[41:28] Speaker 4: the stage of development where we are. We have to
[41:32] Speaker 4: go through the till the end and we will deliver
[41:35] Speaker 4: this to you know, we will make another unique Ferrari.
[41:39] Speaker 2: Okay, I'm looking forward to that. We have much time left.
[41:42] Speaker 2: But I want to ask again, going back to the culture.
[41:45] Speaker 2: You've only been there for three and a half years,
[41:48] Speaker 2: but Prirari has such a storied past, with such strong leaders.
[41:52] Speaker 2: What kind of imprint do you want to leave on
[41:54] Speaker 2: the culture? What is the unique selling point that you
[41:57] Speaker 2: bring to Ferrari and that you hope to leave with Ferrari.
[42:00] Speaker 4: That's a good point, and I think that what I
[42:04] Speaker 4: what I want to leave to the company is to
[42:06] Speaker 4: make sure that there is empowerment at all level in
[42:09] Speaker 4: the company. I want all the level in the company
[42:11] Speaker 4: to be empowered. I want all the level to contribute
[42:16] Speaker 4: to the innovation, because it's fundamental that today and in
[42:20] Speaker 4: the future the organization work more than not so much
[42:23] Speaker 4: in a hierarchical mode, but a more measured way, interconnected way.
[42:28] Speaker 4: And if I think also the progress we are doing
[42:30] Speaker 4: for example and sustainability, it's something that is happening because
[42:34] Speaker 4: the blue collars, together with the white collars, are bringing
[42:37] Speaker 4: up some new ideas. I think it's fundamental today with
[42:41] Speaker 4: all the tools we have, you know what'sapp email, we
[42:45] Speaker 4: can cause AI, but national intelligence is also important. It
[42:50] Speaker 4: will always be important because the emotional intelligence. The AI
[42:53] Speaker 4: will never have the emotional intelligence Okay, yeah, it's like
[42:58] Speaker 4: to think when you think about a man is ahead,
[43:00] Speaker 4: but there's also the gat okay, yeah, is only a
[43:03] Speaker 4: man with big brain, but there is also a gut
[43:07] Speaker 4: feeling that makes the difference. So what I want to say,
[43:09] Speaker 4: I would I would like to leave a company that
[43:12] Speaker 4: there's a culture that is more suitable for the challenge
[43:16] Speaker 4: that the company will live in the future. I am
[43:19] Speaker 4: very pleased we are doing very good progress in this direction.
[43:22] Speaker 4: Many others will do together.
[43:24] Speaker 3: Well.
[43:24] Speaker 2: It's a noble cause. And I really appreciate you sitting
[43:26] Speaker 2: down with us.
[43:27] Speaker 5: Thank you, Matt, thank you, thank you so much.
[43:29] Speaker 1: That was so great. I really regret that I wasn't
[43:32] Speaker 1: able to make that interview map, but you did great obviously.
[43:38] Speaker 1: I always learn a lot when I listen. It's just
[43:41] Speaker 1: so good to hear from the horse's mouth straight from Italy.
[43:44] Speaker 1: You know what's going on for sure.
[43:46] Speaker 3: For sure, I will say they missed you.
[43:47] Speaker 2: The whole PR team was like, we're so excited to
[43:50] Speaker 2: see Hannah, and then when I got to the to
[43:52] Speaker 2: the conference room, they were like, where's Hannah.
[43:55] Speaker 1: You got to keep them wanting more.
[43:58] Speaker 2: Exactly exactly, so when you go and see them at
[44:01] Speaker 2: Villa Deeste or whatever, they'll be like super happy to
[44:04] Speaker 2: see your Yeah, it was good fun to talk to him,
[44:06] Speaker 2: and it's always fun to dream about Ferraris. I got
[44:09] Speaker 2: to spend a lot of time on the website digging
[44:11] Speaker 2: into it before he came in because I wanted to
[44:13] Speaker 2: be prepared. And you know, it's funny the website it
[44:17] Speaker 2: is not to the same level as the suspension system
[44:20] Speaker 2: of the puro saying and I've.
[44:22] Speaker 3: Noticed you a little trouble. It's just not quite there.
[44:28] Speaker 3: And of course that's not their focus, right because it
[44:31] Speaker 3: should be that.
[44:33] Speaker 2: I doubt their main customers are spending time configuring the
[44:36] Speaker 2: cars on This is.
[44:37] Speaker 1: A thing with like every automaker. The websites are trash
[44:41] Speaker 1: they take. Maybe they're two, maybe they're they're trying to
[44:46] Speaker 1: overcomplicate it, because it does always seem like they're constantly spooling.
[44:50] Speaker 1: They take forever to low. They're hard to navigate. You know,
[44:53] Speaker 1: you can't it doesn't give you what you need right away.
[44:56] Speaker 1: This seems to be kind of a thing with automakers.
[44:58] Speaker 2: They're not quite as good as they could be, even
[45:01] Speaker 2: like Porstia probably has one of the most detailed configurators
[45:06] Speaker 2: and then one of the deepest, right because you can
[45:09] Speaker 2: be filming the components that you put on the car,
[45:12] Speaker 2: but it's just not quite there. You know, you break
[45:15] Speaker 2: off from the regular website into like a child window.
[45:18] Speaker 2: And yeah, I mean Doucatti has always had problems. Uh,
[45:23] Speaker 2: I'm just thinking of the ones I hit up a lot.
[45:25] Speaker 2: I like Chevy has a pretty good one Ford, but
[45:29] Speaker 2: they're just not as good as they could be.
[45:30] Speaker 1: You know, Yeah, I know, I I it's tough when
[45:33] Speaker 1: you're a journalist and you're trying to sort of find information,
[45:37] Speaker 1: and that's when I just start emailing prs because half
[45:40] Speaker 1: the time, too, what the PR tells me is different
[45:42] Speaker 1: than what's on the website. And you know, sometimes they're
[45:44] Speaker 1: not aware that they're sending conflicting messages.
[45:47] Speaker 2: So all right, I've got to head to a dinner,
[45:50] Speaker 2: and you've got your I.
[45:53] Speaker 1: Was gonna I was gonna ask if you've got any
[45:55] Speaker 1: if you've had any amazing meals yet or has ever I've.
[45:58] Speaker 3: Had and I've had.
[46:00] Speaker 2: I had a truly amazing meal, like I'm talking Michelin
[46:04] Speaker 2: level at a place called Comone Hamone so like their
[46:09] Speaker 2: version of Ferrari La Ferrari su right here in the
[46:13] Speaker 2: old city of Valencia. If you if you come here,
[46:16] Speaker 2: I highly recommend checking out this restaurant. Like it's a
[46:19] Speaker 2: great couples night for two that.
[46:22] Speaker 3: I mean amazing.
[46:24] Speaker 2: I had the flaw which was insane in the waveless rotost,
[46:28] Speaker 2: which is a very simple dish, but they made it
[46:30] Speaker 2: like at a culinary height that I wouldn't have expected.
[46:34] Speaker 1: So yeah, amazing.
[46:36] Speaker 3: All right, cool, Well listen, you have a great trip.
[46:39] Speaker 2: And uh they hid in magnuson Willow and wait, is
[46:43] Speaker 2: there a new one another puppy?
[46:44] Speaker 3: Oh yeah, and the puppy the new one.
[46:46] Speaker 1: There's no new one yet, but you know, you never
[46:49] Speaker 1: know of.
[46:49] Speaker 2: These, Okay, okay, I keep I keep expecting that, and
[46:53] Speaker 2: I'll see you here at same time, same place next
[46:55] Speaker 2: Week's right.
[46:56] Speaker 1: I'm Matt Miller, and I'm Hannah Elliott, and this is
[46:59] Speaker 1: Bloomberg

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