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What are the Mission, Vision, and Core Values of Ferrari?
Mission and vision statements are foundational for any successful enterprise, articulating its purpose and aspirations. For a global icon like Ferrari, these strategic foundations are critical, directing every business decision and shaping its distinct corporate identity. Operating at the apex of the high-performance luxury sports car market and as a dominant force in Formula One racing, Ferrari's industry position is one of unparalleled prestige and exclusivity.
In 2024, Ferrari reported net revenues of €6,677 million, an 11.8% increase, with a net profit of €1,526 million, up 21.3%. This robust performance continued into Q1 2025, with net revenues reaching €1,791 million, up 13.0%, and net profit at €412 million, a 17.0% increase. These figures underscore how Ferrari's enduring mission, forward-looking vision, and deeply ingrained values are active drivers that underpin its controlled growth strategy, innovation, and sustained market leadership. They are the essence of the Prancing Horse, steering its evolution in a rapidly changing automotive landscape, including its highly anticipated launch of the first fully electric vehicle in 2025. For a deeper dive into the external factors influencing the company, consider reviewing a Ferrari PESTEL Analysis.
Key Takeaways
- Ferrari's mission, vision, and values are central to its enduring success and unique brand identity.
- A strong commitment to technological innovation, including R&D and EV development, drives the company.
- The 'quality of revenues over volumes' strategy, reflected in 2024's 11.8% revenue growth and 21.3% net profit increase, is a core tenet.
- Core values like 'Tradition and Innovation' and 'Passion and Achievement' shape product development and corporate culture.
- Ferrari's focus on exclusivity, performance, and aspirational living solidifies its position in the luxury automotive market.
Mission: What is Ferrari Mission Statement?
Company's mission is 'to build unique sports cars, designed and built in Maranello, that embody Italian excellence and deliver unparalleled driving experiences.'
The Ferrari mission statement focuses on creating exceptional luxury sports cars. This involves driving technological innovation, maintaining brand exclusivity, fostering the racing spirit, and delivering unparalleled performance. The company targets ultra-high-net-worth individuals and automotive enthusiasts seeking the pinnacle of luxury, performance, and heritage.
Technological Innovation
Ferrari invests heavily in research and development, with approximately €922 million in 2024, representing about 15.4% of revenues, to advance automotive technology.
Brand Exclusivity
Production volumes are carefully managed, with 13,752 units shipped in 2024, ensuring demand consistently exceeds supply.
Racing Spirit
The company's Formula One team, Scuderia Ferrari, is central to its brand identity and commitment to performance.
Global Market Reach
Ferrari operates globally, with diverse sales distribution, and only 8% of its 2024 revenues from mainland China.
Unparalleled Performance
The unique value proposition combines revolutionary technological solutions with exceptional artisanal craftsmanship.
Customer-Centric Approach
The mission is to deliver unique emotional experiences and a symbol of success and craftsmanship to its clientele.
The Ferrari mission statement emphasizes driving technological innovation, maintaining exclusivity, fostering the racing spirit, and delivering unparalleled performance. This mission explicitly targets ultra-high-net-worth individuals and automotive enthusiasts who seek the pinnacle of luxury, performance, and heritage. Ferrari's products and services encompass high-performance luxury sports cars, its world-renowned Formula One racing team (Scuderia Ferrari), and a growing portfolio of branded merchandise and exclusive lifestyle experiences. The market scope is global, with sales distributed across regions, and only 8% of its 2024 revenues derived from mainland China, contrasting with many other luxury brands. Ferrari's unique value proposition lies in its blend of revolutionary technological solutions with exceptional artisanal craftsmanship, creating timeless icons. This mission is reflected in their business operations through substantial investments in research and development, reaching approximately €922 million in 2024, or about 15.4% of revenues, to push automotive boundaries, including hybrid and electric vehicle development. Furthermore, the company carefully manages production volumes, shipping 13,752 units in 2024, to ensure demand consistently outstrips supply, reinforcing brand exclusivity and pricing power. The Ferrari mission statement is primarily innovation-focused and customer-centric, delivering unique emotional experiences and a symbol of success and craftsmanship. For more details on its financial structure, explore the Revenue Streams & Business Model of Ferrari.
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Vision: What is Ferrari Vision Statement?
Ferrari's vision is 'to lead the luxury automotive sector through unparalleled innovation, sustainable growth, and the creation of iconic, high-performance vehicles that embody passion and excellence.'
Ferrari's vision for the future of automotive emphasizes technological advancement and sustainable luxury. The company aims to disrupt the industry with electrification, planning its first all-electric model for 2025. By 2030, Ferrari targets a portfolio of 40% fully electric, 40% hybrid, and 20% internal combustion engine (ICE) models. This strategic shift reflects a commitment to global leadership in the evolving luxury car market, balancing heritage with future demands.
Technological Innovation
Ferrari's vision for the future of automotive is rooted in relentless technological innovation, pushing boundaries in performance and design.
Sustainable Growth
The company is committed to sustainable practices, integrating electrification and eco-friendly solutions into its production and product lines.
Electrification Leadership
Ferrari plans to launch its first all-electric model in 2025, aiming for 40% electric vehicles in its portfolio by 2030.
Market Leadership
The Ferrari vision statement guides its ambition to maintain and expand its leadership in the luxury automotive sector globally.
Brand Identity
Core values that define Ferrari include passion, excellence, and a unique brand identity that resonates with customers.
Financial Strength
Supported by strong financial performance, including a 21.3% net profit growth in 2024, Ferrari's vision is robust and achievable.
While an explicit, concise Ferrari vision statement is not always publicly articulated, the company's strategic direction and communications clearly outline its aspirational future. Ferrari's vision for the future of automotive centers on a relentless pursuit of technological innovation and unparalleled performance, coupled with a strong commitment to sustainability and controlled growth. This includes significant industry disruption through electrification, with the company set to launch its first all-electric model in 2025. By 2030, Ferrari aims for its portfolio to comprise 40% fully electric, 40% hybrid, and 20% internal combustion engine (ICE) models. This demonstrates a clear ambition for global impact and market leadership in the evolving luxury automotive sector, effectively balancing tradition with future demands. The vision appears realistic yet aspirational, underpinned by Ferrari's current trajectory, robust financial health, and strategic investments. For instance, in 2024, Expensed R&D and Capital Expenditures exceeded €1.6 billion, showcasing a tangible commitment to innovation. The company's consistent strong financial performance, with 2024 net profit growing by 21.3% to €1,526 million, provides a solid foundation for these ambitious future endeavors. Ferrari's entry into high-performance sailing further underscores its visionary approach to developing new innovations in sustainability with future implications for its automotive sector, aligning with its core values that define Ferrari. For more insights into the company's strategic direction, explore the Growth Strategy of Ferrari.
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Values: What is Ferrari Core Values Statement?
Ferrari's core values are fundamental to its identity, shaping its operations and strategic direction. These principles guide every aspect of the company, from product development to customer engagement, ensuring a consistent brand experience.
The company's core values are Individual and Team, Tradition and Innovation, and Passion and Achievement. These values collectively define Ferrari's unique corporate culture and its relentless pursuit of excellence in the luxury automotive sector.
Individual and Team
This value highlights that while individual talent is crucial, extraordinary achievements at Ferrari are realized through collaborative teamwork. It emphasizes integrity, excellence, and generosity, empowering employees to reach their full potential.
Tradition and Innovation
This core value underscores Ferrari's ability to blend its rich heritage with a continuous pursuit of lasting firsts. Tradition and innovation are seen as mutually reinforcing forces, driving the Ferrari legend forward.
Passion and Achievement
This value embodies Ferrari's racing spirit, extending beyond the track to an authentic attitude towards life. It signifies the drive to set ambitious targets and relentlessly exceed them, pushing every boundary.
Commitment to Excellence
Ferrari's commitment to excellence is evident in its meticulous craftsmanship and superior performance. This dedication ensures that every vehicle and experience reflects the highest standards of quality and luxury.
These core values, including Ferrari's commitment to excellence and innovation, are integral to its identity. To understand how these principles influence strategic decisions, explore the next chapter on how Ferrari's mission and vision guide its future endeavors and impact its Target Market of Ferrari.
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How Mission & Vision Influence Ferrari Business?
A company's mission and vision are foundational, dictating its strategic direction and influencing every decision made. These statements act as a compass, ensuring that actions align with the overarching purpose and future aspirations.
Ferrari's Mission: Driving Excellence and Exclusivity
Ferrari's mission centers on creating unparalleled performance cars that embody passion, innovation, and exclusivity.
- To design and build the most desirable cars in the world.
- To deliver unique driving experiences and emotional connections.
- To maintain a heritage of racing success and technological advancement.
- To achieve controlled growth that preserves brand exclusivity.
Ferrari's Vision: Pioneering the Future of Luxury Performance
Ferrari envisions a future where it continues to lead in automotive innovation, embracing new technologies while staying true to its performance DNA.
Core Values: The Pillars of Ferrari's Identity
Ferrari's corporate philosophy is built on a set of core values that guide its operations and define its brand identity.
Tradition and Innovation
This value reflects the company's ability to honor its rich racing heritage while continuously pushing the boundaries of automotive technology and design.
Passion and Achievement
Ferrari's passion for performance and competition fuels its pursuit of excellence, evident in its Formula One team and the engineering of its road cars.
Excellence and Quality
A relentless commitment to the highest standards in craftsmanship, engineering, and customer experience is paramount.
Integrity and Responsibility
Operating with ethical standards and a sense of responsibility towards stakeholders and the environment.
Ferrari's mission, vision, and core values are deeply integrated into its strategic decisions, ensuring brand exclusivity and performance leadership. The company's 'controlled growth' strategy, exemplified by a 0.7% increase in shipments to 13,752 units in 2024, directly supports its mission of maintaining desirability. This focus on quality over volume, as highlighted by CEO Benedetto Vigna, contributed to revenue growth driven by a strong product mix and personalization. The vision for technological advancement is evident in the planned launch of its first fully electric model in 2025 and the target of 40% electric and 40% hybrid models by 2030, supported by over €1.6 billion in R&D investments in 2024. This strategic direction is further evidenced by expansion into areas like high-performance sailing, seeking new frontiers for research. The values of 'Tradition and Innovation' and 'Passion and Achievement' are reflected in operational excellence, with Q1 2025 financial results showing a 22.7% increase in operating profit to €542 million and an EBIT margin of 30.3%. The sustained demand, with an order book extending into 2026, underscores the success of this alignment. Understanding these guiding principles is crucial when analyzing the Competitors Landscape of Ferrari.
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What Are Mission & Vision Improvements?
Ferrari's mission and vision statements are cornerstones of its brand identity, guiding its operations and aspirations. Enhancements could focus on explicitly integrating sustainability and community engagement to reflect evolving market expectations and consumer desires.
Enhanced Sustainability Integration
Explicitly incorporating a broader commitment to Environmental, Social, and Governance (ESG) factors beyond product electrification would strengthen the brand's appeal. This aligns with Ferrari's stated goal of carbon neutrality by 2030, as detailed in its 2024 Annual Report, reinforcing its dedication to responsible luxury.
Emphasizing Experiential Community Building
Subtly emphasizing the experience and community in the mission statement would acknowledge evolving luxury consumer behavior. This could involve framing the mission to include 'cultivating an unparalleled global community of enthusiasts through extraordinary experiences and iconic products,' reflecting a growth opportunity in lifestyle activities.
Refining Vision for Sustainable Leadership
The vision could be refined to explicitly state a commitment to 'leading the luxury mobility sector into a sustainable and ethically responsible future, driven by our heritage of innovation and passion.' This would articulate a holistic approach to sustainability, encompassing supply chain decarbonization and broader social impact.
Reinforcing Heritage and Innovation in Mission
The Ferrari mission statement, which centers on innovation, performance, and exclusivity, could be further enriched by explicitly linking these attributes to a forward-looking, responsible approach. Understanding Mission, Vision & Core Values of Ferrari provides insight into how these elements drive the company's success.
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