Ferrari Dealt Major Blow Before US Grand Prix As Rare Statement Issued

Ferrari have been dealt another major blow in the lead-up to the United States Grand Prix - with chairman John Elkann making a rare statement on the matter.

The Scuderia have struggled for car performance throughout much of the 2025 season, with drivers Lewis Hamilton and Charles Leclerc rarely in contention for wins or even podiums.

They finished in eighth and ninth on pure pace at the Azerbaijan Grand Prix last month, with promise shown in Friday practice sessions often not converting to Saturday or Sunday.

Leclerc and Hamilton finished sixth and seventh respectively in Singapore, with Leclerc having to lift and coast for the majority of the race due to brake issues and Hamilton suffering a left front brake failure with three laps remaining.

As one of the biggest brands in the world, Ferrari expect on-track results but have not delivered a world champion since Kimi Raikkonen in 2007.

Matters off-track have also not gone smoothly recently, with the Italian car manufacturer reporting a significant share price drop on Thursday.

Forbes reported that Ferrari's shares fell by over 13 per cent on the New York Stock Exchange as of 11:40am EDT on Thursday, as well as more than 14 per cent on the Italian exchange in Milan.

As per Yahoo Finance, which tracks real-time prices on the NYSE, Ferrari's shares were down 14.99 per cent to 407.38 at close on Thursday, but had rebounded by around 5.00 (over 1 per cent) on Friday at the time of writing.

That fall in price prompted a rare statement from Ferrari president John Elkann, who is also heavily active within the F1 team.

"My commitment is, as president, as majority shareholder and, above all, as someone who has lived Ferrari as a lifelong passion," he told an assembly in Maranello.

"I am committed to ensuring that every decision we make strengthens Ferrari's uniqueness. I am committed to our people, whose talent and dedication are the greatest guarantee for our future. I am committed to our beloved Ferraristi, who entrust us with their dreams.

"And I am committed to our loyal fans, eager to see us win in F1, just as we are winning in endurance. And it is with pride that we have brought home the Le Mans trophy after three consecutive victories."

As Elkann eludes to, Ferrari have enjoyed significant success in endurance racing, and their cars finished in two of the top three places in the leading LMP1 category in this year's Le Mans 24 Hours race.

Robert Kubica, Phil Hanson and Yifei Ye piloted the privately-entered No.83 Ferrari, which was initially not expected to challenge the Scuderia's factory entries, to victory in France.