Ferrari supremo issues powerful statement and it's great news for Lewis Hamilton

Ferrari chairman John Elkkan has delivered a powerful statement which should buoy F1 champion Lewis Hamilton.

The Prancing Horse’s suffered mighty losses last Thursday, when the carmaker’s shares fell by 16 per cent due to negative reaction over their new long-term financial targets.

A value of $15.67bn (£11.8bn) was wiped from Ferrari's market capitalisation, their largest single-day decline on the New York Stock Exchange since 2015.

Ferrari were set a revenue target of £8bn for 2030, an increase on the £6bn figure they had forecast for 2025, but this was a figure well short of market expectations following earlier projections from 2022.

The timing coincided with the after effects of yet another miserable weekend for Lewis Hamilton and Charles Leclerc at the Singapore Grand Prix, who finished eighth and sixth respectively, while their rivals Red Bull and Mercedes celebrated a podium finish.

Elkann rouses the troops at Maranello

Following the loss, Ferrari chairman Elkann delivered a powerful statement at the F1 team’s Maranello base in a bid to bolster employees and fans alike.

"I am committed as Chairman, majority shareholder, and above all in the name of a passion that has lasted my entire life: my passion for Ferrari,” Elkann said as per Corriere dello Sport.

“I am committed to ensuring that every decision we make reinforces Ferrari's uniqueness. I am committed to our employees, whose talent and dedication are the greatest guarantee of our future.

“I am committed to our beloved Ferrari fans who entrust us with their dreams. I am also committed to our loyal supporters, who are eager to see us win in Formula 1 as we are already doing in endurance racing.

“In this regard, it is with pride that we have made the 24 Hours of Le Mans trophy ours forever, following our third consecutive victory this year.”

The final part of Elkann’s speech signalled good news for Hamilton and Leclerc in particular, who have bemoaned the status of the team in 2025 during several interviews.

Elkann announced Ferrari’s intention to continue to invest and attract ‘extraordinary people’ to restore glory to the iconic marque.

“But my commitment is also to you, our partners and the Ferrari community, who share our belief that Ferrari is not just a company, but a vital and unstoppable force. Ferrari has never chosen the easy path, but rather the most meaningful one,” the 49-year-old concluded.

“We will therefore continue to invest, innovate and build. We will continue to attract and train extraordinary people and we will continue to demonstrate, year after year, the uniqueness of Ferrari."

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