New Ferrari CEO is from outside the industry
Discussion
https://www.bloomberg.com/news/articles/2021-06-09...
New CEO comes from the computer chip business. Will be interesting to see what direction he takes the company in.
New CEO comes from the computer chip business. Will be interesting to see what direction he takes the company in.
It's a smart and necessary move. The entire auto sector is facing huge headwinds.
The "auto'' sector is moving fast towards ''mobility'' as ESG (environmental, societal and corporate governance) shapes the future relationship with buyers, in large part through forced adoption by the rapid shift to digital and commerce. The pandemic took 10 years of digital transformation which has already started and compressed it into 18 months.
What's the most downloaded app since Jan 2020? Tik Tok. Every month since Jan 2020 thru April 2021, Tik Tok tops the list. One of the world's largest youth social first publishers (a UK firm) delivers each month around 3.5 billion global video views. The world has changed and is only accelerating - in the direction of user experience, commerce and connectivity.
Car makers have zero choice but to get ahead of this. And that's why ESG for them is also non negotiable. As I'm sure the owners of Pistonheads know too.
My 2c is Ferrari's plan is probably to have two main pillars to their business.
The first is to maintain its racing motorsport - priceless - heritage by rapidly developing its private track presence alongside its regular F1 presence. It has just built a very fancy customer facing competition facility at its Fiorano track. I think its no coincidence they named the new 812 VS, Competizione. Over time the glorious sound of V12s, and extreme V8s, will not die, they will live in a world where top customers - and spectators - can experience the heritage of Ferrari privately. Much like the world of top horse racing today.
The second strand will be its main strand. Luxury mobility with huge emphasis on hi tech, style and sport. EV and EV autonomous with Ferrari design, cutting edge materials and on board connected subscriber experiences.
The first strand will sit at the marque's core, it will be hugely important and very valuable for maintaining and increasing Ferrari's brand power; it will be incoming producing too. Specialist businesses today who raise their game will flourish for years to come maintaining these automotive thoroughbreds. Which cars today will see their values steadily increase in this new world? The list is pretty predictable. Which cars will your grandchildren pay to take their children to see, smell and hear?
The second strand - which relies on the first to differentiate Ferrari from all others - will IMO - be 95%+ of Ferrari's future substantial and highly profitable revenues as it pivots fast to a connected, electric and autonomous future where in its segment performance luxury will be expressed differently.
The appointment of the new CEO is smart and necessary. Welcome to the future.
The "auto'' sector is moving fast towards ''mobility'' as ESG (environmental, societal and corporate governance) shapes the future relationship with buyers, in large part through forced adoption by the rapid shift to digital and commerce. The pandemic took 10 years of digital transformation which has already started and compressed it into 18 months.
What's the most downloaded app since Jan 2020? Tik Tok. Every month since Jan 2020 thru April 2021, Tik Tok tops the list. One of the world's largest youth social first publishers (a UK firm) delivers each month around 3.5 billion global video views. The world has changed and is only accelerating - in the direction of user experience, commerce and connectivity.
Car makers have zero choice but to get ahead of this. And that's why ESG for them is also non negotiable. As I'm sure the owners of Pistonheads know too.
My 2c is Ferrari's plan is probably to have two main pillars to their business.
The first is to maintain its racing motorsport - priceless - heritage by rapidly developing its private track presence alongside its regular F1 presence. It has just built a very fancy customer facing competition facility at its Fiorano track. I think its no coincidence they named the new 812 VS, Competizione. Over time the glorious sound of V12s, and extreme V8s, will not die, they will live in a world where top customers - and spectators - can experience the heritage of Ferrari privately. Much like the world of top horse racing today.
The second strand will be its main strand. Luxury mobility with huge emphasis on hi tech, style and sport. EV and EV autonomous with Ferrari design, cutting edge materials and on board connected subscriber experiences.
The first strand will sit at the marque's core, it will be hugely important and very valuable for maintaining and increasing Ferrari's brand power; it will be incoming producing too. Specialist businesses today who raise their game will flourish for years to come maintaining these automotive thoroughbreds. Which cars today will see their values steadily increase in this new world? The list is pretty predictable. Which cars will your grandchildren pay to take their children to see, smell and hear?
The second strand - which relies on the first to differentiate Ferrari from all others - will IMO - be 95%+ of Ferrari's future substantial and highly profitable revenues as it pivots fast to a connected, electric and autonomous future where in its segment performance luxury will be expressed differently.
The appointment of the new CEO is smart and necessary. Welcome to the future.
Edited by Camlet on Sunday 13th June 09:48
Edited by Camlet on Sunday 13th June 09:49
Edited by Camlet on Sunday 13th June 09:50
WCZ said:
sports car manufacturers have an insanely hard task ahead of them, when every car is electric the appeal dies
I remember the same sentiments when the quartz watch was introduced in the late 70s-80s. The death of the mechanical watch industry they said.Even the swiss watch makers panicked.
One never knows.
Good move I think.
It’s a mistake to think that just because he’s got a technology background there’ll be no soul to what he produces. Not everyone from an engineering or manufacturing background ‘gets it’ either. It all depends on the individual, and their understand and passion for the brand.
If he does appreciate what Ferrari means, then at least he’ll have the skill set needed to deliver it in an increasingly electric and computerised world. That’s good news unless you want Ferrari to turn into some kind of Bristol Motors, producing unique but fundamentally outmoded vehicles for a dwindling audience.
Equally, you really do have to hope he does gets what Ferrari is about. Whatever his background…
It’s a mistake to think that just because he’s got a technology background there’ll be no soul to what he produces. Not everyone from an engineering or manufacturing background ‘gets it’ either. It all depends on the individual, and their understand and passion for the brand.
If he does appreciate what Ferrari means, then at least he’ll have the skill set needed to deliver it in an increasingly electric and computerised world. That’s good news unless you want Ferrari to turn into some kind of Bristol Motors, producing unique but fundamentally outmoded vehicles for a dwindling audience.
Equally, you really do have to hope he does gets what Ferrari is about. Whatever his background…
AndrewD said:
You may be right Camlet but ye Gods, a “connected autonomous Ferrari”?
So the day comes when it is more about being seen being driven around by a computer whilst you post photos on social media?
Very sad.
at least you can have your car driving around for you whilst you're outside of it in london instead of spending hours looking for a parking spot!So the day comes when it is more about being seen being driven around by a computer whilst you post photos on social media?
Very sad.
sparta6 said:
Wilmslowboy said:
The world's fastest-growing, and most valuable car manufacturer (by market cap) has been run by a techie (industry outsider) for a decade and a half.
Tesla.
When will Tesla make a profit ?Tesla.
I personally don’tt think Tesla will maintain its dominance of the EV sector but looking at its current profitability is in my opinion personally not the right metric.
As for the Luxury EV sector wh knows, will be very interesting to see how things play out. My guess is the tech component of cars will be as important as the luxury component and will be massively difficult for all the smaller car manufacturers like Ferrari to compete on.
Interesting times !
tty baseball cap or crappy jacket industries, or perhaps more broadly the branded tat industry. Cheib said:
sparta6 said:
Wilmslowboy said:
The world's fastest-growing, and most valuable car manufacturer (by market cap) has been run by a techie (industry outsider) for a decade and a half.
Tesla.
When will Tesla make a profit ?Tesla.
I personally don’tt think Tesla will maintain its dominance of the EV sector but looking at its current profitability is in my opinion personally not the right metric.
As for the Luxury EV sector wh knows, will be very interesting to see how things play out. My guess is the tech component of cars will be as important as the luxury component and will be massively difficult for all the smaller car manufacturers like Ferrari to compete on.
Interesting times !
By contrast if you'd invested in Tesla 15 years ago you'd still be waiting for a yield !
I think you're right - and VAG will overtake Tesla in the luxury big barge EV sector.
sparta6 said:
2003.
By contrast if you'd invested in Tesla 15 years ago you'd still be waiting for a yield !
I think you're right - and VAG will overtake Tesla in the luxury big barge EV sector.
Yield ??By contrast if you'd invested in Tesla 15 years ago you'd still be waiting for a yield !
I think you're right - and VAG will overtake Tesla in the luxury big barge EV sector.
If you invested £1,000 in Tesla 15 years ago your stake would not be worth £1/4 million.
Wilmslowboy said:
sparta6 said:
2003.
By contrast if you'd invested in Tesla 15 years ago you'd still be waiting for a yield !
I think you're right - and VAG will overtake Tesla in the luxury big barge EV sector.
Yield ??By contrast if you'd invested in Tesla 15 years ago you'd still be waiting for a yield !
I think you're right - and VAG will overtake Tesla in the luxury big barge EV sector.
If you invested £1,000 in Tesla 15 years ago your stake would not be worth £1/4 million.
Whoopee !
Wilmslowboy said:
Yield ??
If you invested £1,000 in Tesla 15 years ago your stake would now be worth £1/4 million.
Two points of order;If you invested £1,000 in Tesla 15 years ago your stake would now be worth £1/4 million.
1) It wasn't possilbe to invest in Tesla 15 years ago as the company wasn't listed until 2010
2) Even if you had invested £1000 at the lowest price possible in 2010, it would be worth £173,000 today.
Edited by ANOpax on Tuesday 15th June 14:24
Gassing Station | Supercar General | Top of Page | What's New | My Stuff