F1: Ferrari Charging for the World Championship

F1: Ferrari Charging for the World Championship

F1: Ferrari Charging for the World Championship

$RACE

Sergio Marchionne says that Ferrari will keep charging for the 2016 World Championship.

That is despite the fact that Sebastian Vettel, the Scuderia’s lead driver, is 67 points behind MercedesAMG’s Nico Rosberg.

Ferrari and Fiat Chrysler (NYSE:FCAU) President Marchionne set Ferrari (NYSE:RACE) the target of winning immediately early in Y 2016, but all of the 4 races so far have been won by Nico Rosberg.

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“The drivers’ title? I think we deserve it,” Mr. Marchionne said at the launch of the 2017 Alfa Romeo Giulia Quadrifoglio. “Not because we are smarter, but simply as a reflection of the work we did in Y 2015.

“The most important thing now is to keep working. So far we have shown in at least three of the four races that we have the ability to be winners. Unfortunately due to mistakes, misfortune or other things, we did not succeed. But we have had 4 Grand Prix races, and 17 remain. It is still open.

“Sochi was the most difficult for us. We needed an engine really at maximum power. If we had got out in front of Mercedes they would have had a hard time to pass us, especially if it had been Vettel at the front.”

MercedesAMG F1 team boss Toto Wolff maintains his belief that Ferrari still has a car capable of challenging for race wins despite the much anticipated threat from the Italian team this year failing to materialize in the opening 4 races.

Mr. Wolff insists MercedesAMG is having to push to find more performance from its car to keep Ferrari at bay, which on occasion is making the car vulnerable to its limits.

The 5th round of the 2016 Formula One season will take place at this weekend’s Spanish Grand  Prix at the Circuit de Barcelona-Catalunya.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 43.43 10 May-2016 0.51 43.18 43.53 43.17 501,070
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.30) Neutral (0.06) Very Bullish (0.50) Bullish (0.35)

Stay tuned…

Paul Ebeling

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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