Ferrari (NYSE:RACE) and Ford (NYSE:F) Pull Out of WEC’s Top Endurance Class Talks

Ferrari (NYSE:RACE) and Ford (NYSE:F) Pull Out of WEC’s Top Endurance Class Talks

Ferrari (NYSE:RACE) and Ford (NYSE:F) Pull Out of WEC’s Top Endurance Class Talks

$RACE, $F, $TM

Organizers of the World Endurance Championship, whose topper is the 24 Hours of Le Mans, are currently embroiled with automakers, teams and other stakeholders over a major shakeup to the series’ Top class in time for the Y 2020/2021 season.

The current proposal is to replace the current LMP1 class with a so-called Hypercar class, the final name has yet to be decided that will see the race cars closely adhere to road car counterparts.

HeffX-LTN has learned from its sources that Ferrari and Ford are no longer part of the talks. This does not necessarily mean the 2 iconic car makers will not be involved in the class, but skipping the talks means an car maker will not be able to give direct input into shaping the regulations. And historically, car makers skipping such meetings tend not to be involved going forward.

There were15 parties including car makers, race car constructors and suppliers were invited to the talks, with Aston Martin, McLaren and Toyota being the only automakers represented.

Leading race car constructors Oreca and Onroak were also present, along with powertrain supplier Gibson.

There are rumors of Ferrari developing a new Hypersuper car and it is possible the car is/was to be the basis of a race car for WEC’s Hypercar class.

No. 66 Ford Chip Ganassi Racing GT at 2018 24 Hours of Daytona

Mark Rushbrook, global motorsports director at Ford Performance, confirmed that the Ford is no longer attending the Hypercar class talks, but is monitoring developments from afar. He hinted that Ford’s participation will likely require the class having a matching counterpart in the IMSA WeatherTech SportsCar Championship, which is due for its own regulations up date in Y 2022.

“Our principles are that it’s got to be global, meaning the same set of rules exist in WEC and IMSA, it’s got to be affordable and it’s got to be relevant,” he said.

Ford competes in the WeatherTech SportsCar Championship with its GT supercar in a production car-based class, but with the GT due to end production in the coming years, there are rumors Ford might return to the series’ premier Prototype class.

While Ford may choose to skip WEC’s new Hypercar class, there’s another American automaker that is Keen to join in. Scuderia Cameron Glickenhaus announced in July its intention to enter the class and has already previewed the design of its race car.

Meanwhile, Toyota (NYSE:TM)  has confirmed plans for a road-going hypercar but is yet to officially commit to WEC’s Hypercar class.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 125.13 7 August 2018 1.14 125.84 125.84 123.95 732,700
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bearish (-0.29) Bearish (-0.36) Neutral (-0.12) Bearish (-0.39)

Stay tuned.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.