LONDON—Formula One stewards have dismissed a Ferrari petition to review the penalty that dropped Carlos Sainz from fourth to 12th at this month’s Australian Grand Prix. The four stewards upheld their original decision after a virtual meeting on Tuesday to consider whether to review the matter. Ferrari needed to present a “significant and relevant new…
F1 Stewards Set Date to Consider Ferrari Penalty Review
Formula One stewards will hold a virtual hearing on April 18 to decide whether there are grounds for reviewing a penalty that stripped Ferrari’s Carlos Sainz of points in the Australian Grand Prix. The governing FIA said in a statement that Spaniard Sainz and Ferrari representatives had been asked to attend the hearing. FIA head…
Ferrari Vows ‘Even Stronger’ 2023 With More New Models
MILAN—A procession of new models will continue to boost earnings at Ferrari, the Italian luxury sports car maker said on Thursday, as it promised “even stronger” results this year after a 16 percent jump in 2022 core earnings. Deliveries jumped almost a fifth to 13,221 cars last year, led by the established Ferrari Portofino M…
Binotto Resigns as Ferrari F1 Team Boss
Ferrari Formula One boss Mattia Binotto has handed in his resignation and will leave at the end of the year, the world championship runners-up said on Tuesday. The news came after considerable media speculation that the 53-year-old, whose contract was due to expire at the end of 2023, had lost top-level support after another failed…
Michael Schumacher’s Winning Ferrari Up for Auction in Geneva
GENEVA—The Ferrari driven to five race victories by Michael Schumacher during his World Championship-winning 2003 Formula 1 season is being auctioned next week in Geneva, auction house Sotheby’s said on Friday. The red “Chassis 229” Ferrari raced by German world champion driver Schumacher nine times could fetch up to $9.4 million, according to the sellers….
Ferrari Lifts 2022 Forecasts After Strong Second Quarter Results, Record Orders
MILAN—Ferrari beat earnings forecasts and reported record orders in the second quarter, prompting the luxury sports car maker to raise its full-year targets, as Portofino M and F8 family models drove sales. The Italian company, famed for its roaring engines powering super-cars with price tags starting at over 200,000 euros ($205,000), in June rolled out…
Ferrari Promises Electric Means ‘Even More Unique’ Cars
MARANELLO, Italy—Electric and hybrid models should make up 80 percent of Ferrari’s sales by 2030, the luxury carmaker told investors on Thursday, vowing to produce “even more unique” cars as it makes the expensive shift to zero-emission driving. “We believe we can use the electric engine to enhance the performance of our cars,” Chief Executive…
Vigna to Set out Ferrari’s Route Into Electric Vehicle Era
MILAN—Nine months after taking the top job, Ferrari CEO Benedetto Vigna will be expected this week to explain how the carmaker will preserve its cachet—and top tier prices—in a future of electrified cars. The Italian luxury sports carmaker is set to unveil its much awaited business plan on Thursday, heading into the new era of…
Ferrari to Recall More Than 2,000 Cars in China Over Braking Issues
SHANGHAI/MILAN—Luxury sports car maker Ferrari will recall 2,222 cars in China due to a potential fault in its braking systems, China’s market regulator said in a statement on Friday. The recall covers the 458 Italia, 458 Speciale, 458 Speciale A, 458 Spider, 488 GTB, and 488 Spider series models, the State Administration for Market Regulation…
Ferrari to Invest up to 500 Million Euros to Support R&D, Jobs in Italy
ROME—Ferrari will invest up to about 500 million euros ($550 million) in its Maranello and Modena plants in central Italy by 2025 to support new technologies and create 250 jobs, the local Emilia-Romagna region said on Tuesday. The plan will include a new facility for electrification and new propulsion systems with low environmental impact, the…
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