Ferrari chairman John Elkann sends 'accountability and determination' message in open letter

John Elkann admitted Ferrari underperformed in Formula 1 in 2025

Ferrari chairman John Elkann admitted that the Maranello outfit "fell short of ambitions" in 2025, but assured its stakeholders that "racing is as much about learning as winning".

The Fred Vasseur-led team finished the 2025 Formula 1 season fourth in the constructors' standings. After Lewis Hamilton joined the team at the start of the year, he took time to adjust to the new team. While he achieved a sprint race win in China, his best grand prix finish was fourth. His team-mate Charles Leclerc managed seven podium finishes, but no grand prix wins.

In an open letter to shareholders, Elkann noted: "Equally significant is the fact that, following this decision, Ferrari returned to win the centenary edition of Le Mans, fifty years after it last took part in the race, and went on to secure three consecutive wins with three different driver line-ups, a testament to the unity and collective strength of the team.

Charles Leclerc, Ferrari, Lewis Hamilton, Ferrari

Photo by: Peter Fox / Getty Images

"Formula 1, by contrast, fell short of ambitions. But Ferrari has always understood that racing is as much about learning as winning. Ferrari’s founder Enzo Ferrari kept what he called a 'museum of mistakes,' a cabinet of broken parts collected in pursuit of progress. That mindset remains essential today: accountability and the determination to return stronger."

Ferrari has already had a much stronger start to the 2026 season. It currently sits second in the constructors' standings and is so far the only team to pose a threat to the dominant Mercedes. Hamilton also secured his first podium finish with Ferrari at the Chinese Grand Prix.

The team now prepares for the third round of the season, the Japanese Grand Prix at Suzuka, from 27-29 March, before a five-week break due to the cancellation of the Bahrain and Saudi Arabian Grands Prix in April.