Ferrari wants to attack 2019 with a higher budget and finally get the formula-1 title that has been waiting for more than ten years.
As Ferrari Managing Director Louis Camilleri informs investors in a conference call, Scuderia wants to open the wallet again for this.
Although our performance in Formula 1 last year was one of the best since we won the title of the designer 2008, we could not achieve our goal of holding the trophy in our hands,”says the Italian.”We can’t reach our goal of holding the trophy in our hands.” Our goal therefore remains the same as always: to win! For 2019, therefore, we plan increased expenditure that partly reflects this ambition.”
However, this is not the only reason for the planned additional expenditure. According to Camilleri, increased development spending is also necessary to respond to the new regulations from the season 2021. However, so far there are no confirmed regulations for the next season –just a rough concept with ideas.
Recently Ferrari had repeatedly threatened to leave Formula 1 if the royal class did not move in the direction that Ferrari wants. Camilleri, however, took these threats from the late ex-president Sergio Marchionne at the latest with the budget increase the wind out of the sails.
Wage costs decreased after the King’s departure
Only in November did Ferrari’s chief financial officer Antonio Picca Piccon reduce spending by five million euros but now the role is reversed. The Scuderia can also build on higher revenues from 2018: higher sponsorship revenues, more formula-1 prize money and also the engine end with clean have provided a plus, in addition the salary costs are likely to have decreased due to the departure of Kimi line queens.
Formula 1 is Ferrari’s most important marketing point, which is why Scuderia invests more there. Less budget means less success, which damages the brand. In the near future, however, the costs in formula 1 are to be reduced by a budgetary limit. How this will turn out, it is still necessary to evacuate.