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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: I'm Hannah Elliott and I'm Matt Miller, and this is

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Speaker 2: Hot Pursuit coming up today, cornering the ride share market.

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Speaker 2: Why way Mo may have an advantage over.

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Speaker 1: Uber pulas Formula one is front and center in the

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Speaker 1: racing world, but is there room for others? How big

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Speaker 1: time automakers are betting on it.

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Speaker 2: And Ferrari CEO Benedetto Vina joins us. We'll talk about

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Speaker 2: the company's first all electric vehicle and the possibility that

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Speaker 2: they go back to gated shifters in new cars. Thanks

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Speaker 2: for joining us this week on Hot Pursuit, Hannah, I

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Speaker 2: want to before we get to anything, ask about Texas,

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Speaker 2: because you were just down there. I see you're wearing

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Speaker 2: a cowboy hat right now, and I'm guessing you're all so.

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Speaker 2: You have that gigantic belt buckle on you.

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Speaker 1: I've still got the truckle on. I basically haven't taken

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Speaker 1: it off for a week, which is I don't know

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Speaker 1: what that means about me or the truckle, but I'm

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Speaker 1: going with it. I'm actually still in Texas. I've been

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Speaker 1: here a week. I've got a couple more days I'm

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Speaker 1: in Dallas right now, and we did try to do

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Speaker 1: this episode from the back of the Ford Expedition King

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Speaker 1: Ranch that I've been driving around all week. Gun a

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Speaker 1: little hot, so we had to reschedule. So that's we're

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Speaker 1: I'm doing it from the confines of a climate controlled

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Speaker 1: hotel room in downtown Dallas right now. But I have

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Speaker 1: to say, this Ford Expedition King Ranch is kind of

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Speaker 1: the perfect vehicle to be driving all around Texas this week.

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Speaker 1: It's been a lot of fun.

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Speaker 3: It is gigantic.

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Speaker 2: I love, you know, the King Ranch edition of the

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Speaker 2: F one fifty or the super Duty trucks because it's

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Speaker 2: got that extra flare. I don't know if a cowboy

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Speaker 2: would use that term, but it's got that, you know

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Speaker 2: you extra and graving, yeah, extra stitching like the swagger

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Speaker 2: for sure. Is the King Ranch Expedition as cool as

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Speaker 2: the King Ranch pickup truck.

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Speaker 1: I have to say the King Expedition it's not as

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Speaker 1: cool because personally I love trucks. But it's pretty close. Matt,

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Speaker 1: You'll love it. It's a body on frame, which I know

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Speaker 1: is important to you. True, It's it's not a V eight,

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Speaker 1: so sorry about that. It's a twin turbo V six

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Speaker 1: with Ego boost, But it does have all of that

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Speaker 1: distinctive styling that the truck has, like bronze accents on

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Speaker 1: the grill, the wheels, the body. Those wheels are twenty

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Speaker 1: two inch wheels with like diamond cut machined aluminum detailing.

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Speaker 1: And then of course it has all of the King

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Speaker 1: Ranch badging, which is that squiggly snake line inside and outside,

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Speaker 1: I mean on the seats, on the on the tread plates,

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Speaker 1: on the floor mats. It's kind of everywhere. So if

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Speaker 1: you are a fan of King Ranch and the King

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Speaker 1: Ranch is a real place, by the way, you'll probably

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Speaker 1: like the Expedition suv as well.

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Speaker 3: It is.

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Speaker 2: I think it's like the biggest ranch in America, right,

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Speaker 2: It's yes.

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Speaker 1: Yes, the King Ranch. It's in South Texas. I think

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Speaker 1: it was incorporated in about eighteen fifty three, And of

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Speaker 1: course it's known for its beef cattle herd, but it

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Speaker 1: also is a really prominent breeder of quarter horses. I

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Speaker 1: did a little research on it because it is such

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Speaker 1: a big deal. They had a triple Crown winner back

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Speaker 1: in the forties, and it is a big brand in Texas.

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Speaker 1: In fact, I went I was in Austin a few

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Speaker 1: days ago and King Ranch has a store on South

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Speaker 1: Congress basically close to Ermez doing you know, leather wear,

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Speaker 1: work and stuff. So it's kind of a big deal.

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Speaker 1: It's definitely a thing down here.

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Speaker 2: You know. It is so gigantic, and the expedition is

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Speaker 2: so gigantic as well. It's the biggest SUV that that

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Speaker 2: Ford makes, and it's the same size as Tahoe or

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Speaker 2: a suburban if you get the max version. I wonder

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Speaker 2: if Ford doesn't reintroduce at some point big inch V

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Speaker 2: eight to go into that, to that SEV, because they

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Speaker 2: do have Godzilla, right, they have the seven point three

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Speaker 2: leater V eight that goes into the trucks and the

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Speaker 2: super duties, and they did have a fantastic six point

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Speaker 2: two liters V eight in the in the first generation

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Speaker 2: Raptor that I'm sure they got rid of due to

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Speaker 2: cafe standards and and other regulatory issues. But those regulations

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Speaker 2: are now toothless in the era of Donald Trump. So

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Speaker 2: they could bring it back.

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Speaker 1: Oh, I think they could, and maybe they even should.

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Speaker 1: I will say. Down here in Texas where everything is bigger,

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Speaker 1: people singing to love the expeditions. I'm seeing them all over.

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Speaker 1: They especially love the tailpipes that are like three times

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Speaker 1: the normal size. I've been noticing a lot of those

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Speaker 1: on the backs of Dooley's, so it seems like that

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Speaker 1: would be very welcome here in the Great State of Texas.

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Speaker 1: I should say, you know, about that size thing. The

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Speaker 1: turning radius on the King Branch expedition is not good.

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Speaker 1: And parking is a challenge. It's very fun. Yeah, yeah,

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Speaker 1: it is. When you're trying to get in and out

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Speaker 1: of like hotel valets and restaurant valets. It is a challenge.

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Speaker 1: There's definitely a blind spot when you're trying to change lanes.

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Speaker 1: You know, I kind of cringe when I have to

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Speaker 1: change lanes on you know, going eighty five on the

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Speaker 1: freeways down here. It's been it. Really you feel it,

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Speaker 1: I mean you really feel it. It feels like you're

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Speaker 1: driving an elephant. I mean that's just the truth. Not

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Speaker 1: that it's a bad thing, but it's certainly not a

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Speaker 1: nimble lane change car. I'd say that.

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Speaker 2: I'm sure that the twin turbo V six is fast enough,

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Speaker 2: like it has enough power, yeah.

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Speaker 1: Sure, yeah.

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Speaker 3: And when and when they and when.

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Speaker 2: They came out with that motor in the second gen Raptor.

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Speaker 2: You know, higher horsepower I think, and torque numbers than

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Speaker 2: than the V eight, But it's just everyone always asked

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Speaker 2: me why do I care? And to me, there's a

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Speaker 2: more fuller, warmer feeling when you're driving the bigger V

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Speaker 2: eight than than there is when you're driving you know,

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Speaker 2: a smaller, more compact V six that's got turbochargers in

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Speaker 2: order to get better gas mileage. I mean one or

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Speaker 2: two miles per gallon better, but it's it's not worth

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Speaker 2: the trade off.

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Speaker 1: To me, Yeah, I get it, and that's totally valid.

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Speaker 1: This does not have an engine that's gonna warm your heart.

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Speaker 1: There's no like, there's no connection. You don't you don't

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Speaker 1: feel it. It's not it's not a gutsy engine at all.

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Speaker 1: I think there might be just under four and fifty

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Speaker 1: horse power, and honestly, like, I don't think anyone buys

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Speaker 1: it for the power. Then I just don't see it.

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Speaker 1: So you're you're probably right on that it'd be better

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Speaker 1: to get something smaller with a bigger engine.

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Speaker 2: I bet the other thing is and this is not

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Speaker 2: specific to Ford, but this is an expensive truck right.

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Speaker 2: Oh yeah, I mean it's going to say the starting

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Speaker 2: cost alone is like seventy grand and then you can

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Speaker 2: easily option it out to ninety easily. But I noticed

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Speaker 2: today that, or the last couple of days, we got

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Speaker 2: data from Cox Automotive, so the average car price in

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Speaker 2: America is now over fifty thousand dollars.

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Speaker 1: That is wild to me. I mean, I remember when

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Speaker 1: it used to be sort of low thirties, and now

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Speaker 1: it does seem like everything's more expensive, and that certainly

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Speaker 1: does include new cars too.

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Speaker 2: You know, Yeah, it's mad, it's maddening. I mean, the

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Speaker 2: financing costs now or not. On average, the monthly payment

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Speaker 2: on average in America is seven hundred and fifty bucks

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Speaker 2: a month, and one in five people are paying more

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Speaker 2: than one thousand dollars a month on a car payment.

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Speaker 1: That's wild. Yeah, that's wild. And I also know obviously

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Speaker 1: this we're talking about an sub but the truck for

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Speaker 1: the King, the F one fifty King Ranch again, this

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Speaker 1: is the best selling vehicle in America period for more

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Speaker 1: than four decades, the Ford F one fifty and a

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Speaker 1: lot of those trucks are going for six easy six

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Speaker 1: figures because and you see it down here. People use

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Speaker 1: them for work. They're in them all day driving. It's

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Speaker 1: a rolling office.

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Speaker 3: Yeah.

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Speaker 2: No, I mean it's a fantastic vehicle. And if you're

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Speaker 2: especially if you're in a big place with big parking spots,

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Speaker 2: then then it makes all the sense because you can

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Speaker 2: fit your whole family in it.

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Speaker 3: You can fit all the stuff that you need in it.

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Speaker 2: I wonder if the F series, so I know it's

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Speaker 2: the best selling name plate in America, Yes, but that

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Speaker 2: includes F one, fifty, D F two, fifty, F three, fifty,

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Speaker 2: the whole gamut. And I wonder if General Motors actually

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Speaker 2: sells more pickup trucks if you combine the GM, the

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Speaker 2: Chevy Silverado, and the GMC Sienna, because you know, they're

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Speaker 2: considered different. And yes, it seems like an almost unfair comparison.

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Speaker 4: Is that sure?

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Speaker 1: I mean that would be interesting. I again, my perception

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Speaker 1: is very heavily skewed right now because I'm in Texas,

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Speaker 1: and Texas trucks are such a thing and I'm just

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Speaker 1: seeing so many forwards, So my perception is skewed. But

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Speaker 1: I think that's a great question we should find out.

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Speaker 2: Actually, yeah, I think I'm pretty sure that if you

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Speaker 2: total up all of GM's full size pickup trucks, you're

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Speaker 2: getting close to nine hundred thousand, and if you total

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Speaker 2: up all the F series, it's like seven to fifty.

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Speaker 1: So interesting.

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Speaker 2: So but I know they love that, you know, best

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Speaker 2: selling nameplate in America. Hey me, one of the cool

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Speaker 2: things that I've done in Texas and I've only been

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Speaker 2: able to do it in Texas just because I don't

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Speaker 2: get to spend enough time in California. Is I rode

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Speaker 2: in a driverless car in Austin in a Waimo Like

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Speaker 2: I ordered it with the app and it was I thought,

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Speaker 2: very cool. You are a story about Waimo versus Uber

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Speaker 2: for Bloomberg.

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Speaker 3: What was the story?

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Speaker 1: Yes, well, the story was It was simply set out

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Speaker 1: to be, Hey, I'm a car person, I like cars,

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Speaker 1: I own cars. How will I feel about being in

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Speaker 1: a driverlest vehicle that is also electric? And you know

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Speaker 1: what's that? Like? That was the whole, very simple premise,

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Speaker 1: and I went into it sort of, you know whatever,

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Speaker 1: open to whatever. I didn't have any expectations. My first

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Speaker 1: ride wait for the Weimo was twenty six minutes, which

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Speaker 1: was unexpected, and you know, I had to have my

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Speaker 1: husband drop me off within range of the Weimo because

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Speaker 1: it's not within range of our house in Hollywood. So

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Speaker 1: it kind of started out slow, but I have to say,

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Speaker 1: by the end of the week, I can really see

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Speaker 1: a use case for weymos in cities like Austin. Just

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Speaker 1: like you said in La I hope they come to

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Speaker 1: New York. They're training, they're training right now, they're training

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Speaker 1: the cars in New York. There really is a use

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Speaker 1: case for it for doing things like commuting, which no

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Speaker 1: car person likes commuting, you know. And it was a

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Speaker 1: very good experience. Besides that twenty six minute way. I

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Speaker 1: started just scheduling them a little bit better and I

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Speaker 1: really liked it. And everybody I've spoken with who has

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Speaker 1: ridden in a Weimo is also a big fan. They're

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Speaker 1: they're converted.

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Speaker 2: Here because you don't have to have someone else in

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Speaker 2: the car. For example, when I order an uber, I

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Speaker 2: always it gives you preferences. How do you want the

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Speaker 2: temperature and would you like yes the would you like

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Speaker 2: a quiet ride? You know, I don't necessarily want to

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Speaker 2: have a conversation. I will with the driver, but I

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Speaker 2: definitely don't want to hear someone else's music. Usually no

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Speaker 2: and even when I choose quiet, they're still pumping out

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Speaker 2: whatever jams they're interested in, or on the phone, you know,

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Speaker 2: with their wife or whatever, you know, and it's it's

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Speaker 2: just never the way I want it, Whereas I imagine

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Speaker 2: you wouldn't have ever had those kind of problems in

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Speaker 2: a way.

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Speaker 1: Moo, no no. And honestly, I thought that the weimo

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Speaker 1: would be a little bit hesitating and faltering and not confident,

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Speaker 1: and it's driving as it's trying to read the environment.

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Speaker 1: And the Weymo was a far better driver than most

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Speaker 1: of the Uber drivers, you know, courteous waiting for people

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Speaker 1: to get in, but also getting out of the way.

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Speaker 1: It was such a great driving machine. And one thing

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Speaker 1: that I've heard a lot of people say, especially girlfriends

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Speaker 1: of mine, people in the gay and trans communities, they

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Speaker 1: actually prefer weaimo because they are hassled a lot less.

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Speaker 1: They like not having to, like you say, make awkward

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Speaker 1: conversation with an Uber driver and even not be hassled

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Speaker 1: by Uber drivers who are a little aggressive or make

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Speaker 1: creepy comments. So that is a really important use case

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Speaker 1: as well.

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Speaker 2: I wonder what they'll use because right now they have

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Speaker 2: jags or at least they did in.

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Speaker 1: Austin the iepace.

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Speaker 3: Yes, yeah, and that's pretty cool.

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Speaker 2: You know, you don't usually you don't see too many

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Speaker 2: of those around, so it like stands out. I wonder

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Speaker 2: if they'll continue to use Jags because that brand is

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Speaker 2: pretty much totally right.

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Speaker 1: I know from what I hear from Waimo, and I

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Speaker 1: did reach out to them and correspond with them. They

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Speaker 1: are developing more cars using the jag Ipace as the

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Speaker 1: platform for it. So that is what they're saying for

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Speaker 1: the foreseeable future, and they are. They're in Phoenix, La Austin,

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Speaker 1: and Atlanta right now, San Francisco, and they are expanding

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Speaker 1: as well to you know, five new cities in the

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Speaker 1: new year, including Washington, d C. And Miami, and I

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Speaker 1: think Dallas too if I remember right. I know I

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Speaker 1: wrote the story. I have to go back and look,

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Speaker 1: but they are really expanding and to answer your question,

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Speaker 1: from what they say right now, they're going to stick

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Speaker 1: with the Jags, So it will be really interesting to say.

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Speaker 1: I will say Uber was not happy with the story

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Speaker 1: because not that it was pitting Weimo against Uber at all.

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Speaker 1: It was simply reviewing Weimo. But really, my big takeaway

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Speaker 1: was if given the choice between a Weimo or an Uber,

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Speaker 1: I would definitely prefer the Weimo for all of the

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Speaker 1: reasons we just said.

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Speaker 3: I mean me too.

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Speaker 2: Yeah, and not that I don't order door Dash, but

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Speaker 2: apparently they've got a new partnership with Waymo, so you

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Speaker 2: can use it to deliver your food as well, and

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Speaker 2: you don't have to cool deal with anybody in that case.

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Speaker 2: All right, we're gonna get to Formula one because you

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Speaker 2: have a great story. I shouldn't say that we're gonna

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Speaker 2: get to motor sports. Yes, you have a great story.

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Speaker 2: I mean I loved it on the the obsession that

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Speaker 2: carmakers right now have with all different leagues and motorsports.

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Speaker 2: But it looks like F one is the only one

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Speaker 2: still paying off more on the other side of this break,

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Speaker 2: this is hot pursuit. This is hot pursuit. I'm Matt

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Speaker 2: Miller along with Hannah Elliott and Hannah you have a

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Speaker 2: fantastic story covering, you know, global motor sports and how

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Speaker 2: all of the automakers around the world are, you know,

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Speaker 2: lining up to get involved in everything from King of

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Speaker 2: the Hammers to endurance racing. But it seems so far

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Speaker 2: only F one pays off. Did I sum it up right? Yeah?

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Speaker 1: Yeah, you got it. It's a really interesting thing because

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Speaker 1: I think we all are sensing it. I'm definitely sensing it,

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Speaker 1: just because this weekend F one's in Austin, so everyone

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Speaker 1: in Texas is talking about F one, and of course,

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Speaker 1: you know, F one's got the two billion dollar sponsorship

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Speaker 1: market and millions of TV viewers per race, et cetera,

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Speaker 1: et cetera, and everybody kind of wants in on that,

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Speaker 1: everybody meaning the automakers, the brands, and so we are

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Speaker 1: seeing so many brands, Audi, Cadillac, Forward, joining different mode

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Speaker 1: obviously Formula One, but also endurance racing like Lamont, the

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Speaker 1: World Endurance Championship Series. But also you know, Jim Farley's

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Speaker 1: talking about wanted wanting to develop a supercar for the

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Speaker 1: Baja one thousand. There's just so much in motorsport happening.

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Speaker 1: Of course, we've got IMSLA Racing, We've got Indy Car,

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Speaker 1: and you're right, so far everyone's talking about it. There's

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Speaker 1: a lot of buzz, but F one's kind of the

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Speaker 1: proven model. Obviously, we've got NASCAR, of course in the

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Speaker 1: US that's massive, but it's not growing, it's not growing

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Speaker 1: like F one has in like the potential we're seeing

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Speaker 1: for the other motorsport series, there's just not a lot

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Speaker 1: of proof that anyone's gonna stick around. I guess past

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Speaker 1: the initial buzz.

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Speaker 3: Now, I love you know.

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Speaker 2: The top of your story, you start off with an

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Speaker 2: anecdote about Jim Farley, who is He's really the only

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Speaker 2: automotive CEO that is a dedicated race car driver. And

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Speaker 2: to illustrate that point, he actually won the International Race

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Speaker 2: of Champions Expedition at Laguna Seka.

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Speaker 1: Yeah, it was a it was a obviously IRAQ is

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Speaker 1: no longer running, but it was like an x shibition

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Speaker 1: race that Laguna Seca during Monterey where he was driving

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Speaker 1: in the old cars and he won his class, which

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Speaker 1: is really hard to do. It's a pretty grueling thing

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Speaker 1: to be out there in that heat in those old cars,

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Speaker 1: and he's totally legit.

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Speaker 5: He was.

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Speaker 1: He of course raced and Laman we saw it. We

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Speaker 1: talked to him after one of his qualifying rounds. I

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Speaker 1: think at Lamont he's I mean, he he's the real thing.

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Speaker 1: He's not winning every race, but he's out there and

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Speaker 1: he's doing pretty well, which is great, and he thinks

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Speaker 1: it's important.

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Speaker 2: I mean, the funny thing is you point out that

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Speaker 2: he plays Midpac and the Mustang Challenge, but I do

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Speaker 2: want to, uh. I think it's illuminating to understand that

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Speaker 2: the Mustang Challenge is a client race. So that's the

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Speaker 2: people that he sells to. Those are his clients, and

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Speaker 2: it may be a bad look if he beats them.

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Speaker 1: All right, Yes, so that race he didn't.

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Speaker 2: Win, but the Iraq Exhibition he did win. So it's

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Speaker 2: like maybe he was trying a little a little hard

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Speaker 2: at Laguna Seka.

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Speaker 1: I mean, Jim Farley is not a dumb man. He

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Speaker 1: he is a very smart man. And yes, I think

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Speaker 1: he knows how to read a room very well. So yeah, Also,

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Speaker 1: you know, versus reward, it doesn't look good for any

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Speaker 1: executive to put any type of car into a wall

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Speaker 1: or take it off the track, so he's got to

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Speaker 1: watch it a little bit. I think he's probably you know,

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Speaker 1: he may be going nine point nine out of ten

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Speaker 1: just to make sure, you know, we don't want any

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Speaker 1: bad pr around the races.

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Speaker 3: We don't want to lose our CEO.

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Speaker 1: Also exactly, well that too, that too, I mean, but

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Speaker 1: clearly he and he's really told us. Look, it's important.

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Speaker 1: It's not just about race on Sunday sell on Monday.

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Speaker 1: It's important for us to be a part of the conversation.

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Speaker 1: These motorsports series are big networking opportunities for customers, for

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Speaker 1: people who are involved with the brand, for advisors, consultants,

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Speaker 1: for investors. It's not just about selling cars. That's part

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Speaker 1: of it, of course, but there's a whole ecosystem that

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Speaker 1: motorsport involves and that is growing.

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Speaker 2: There are three hugely important, culturally important races known as

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Speaker 2: the Triple Crown. Right we went to La Mall, there

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Speaker 2: is the Monaco Grand Prix, and then there's the Indy

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Speaker 2: five hundred and you know, three different leagues here. One

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Speaker 2: of those stands out above all the rest in terms

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Speaker 2: of viewership, at least according to their numbers.

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Speaker 1: Yeah, the Monico race.

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Speaker 2: They say a billion people watch the F one race

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Speaker 2: in Monaco.

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Speaker 1: It's I mean, I get I guess we have to

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Speaker 1: believe it. If that's what the rating is, it's incredible.

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Speaker 1: And you know what, when I talk to my little cousins,

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Speaker 1: who are you know, early twenties professional career girls, they

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Speaker 1: follow Formula one And just last night I was asking

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Speaker 1: a couple of them at dinner, which race would you

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Speaker 1: want to go if you could go to one F

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Speaker 1: one race? And they live in Texas and they said

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Speaker 1: the Monaco Race. So there is this just incredible mystique

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Speaker 1: and prestige around it that is also drawing in young

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Speaker 1: new fans as well. It's really interesting.

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Speaker 2: Yeah, I'm not sure which I would want to go

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Speaker 2: to of those three. I mean, we had so much

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Speaker 2: fun at Lamar, I know it was amazing, but I've

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Speaker 2: never been to the Indy five hundred.

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Speaker 3: That's got to be either a massive party, right.

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Speaker 1: It's got to be a massive party. That's Yes, you're right,

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Speaker 1: You're right. I mean maybe you and I Matt should

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Speaker 1: do our own triple Crown where we go to each

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Speaker 1: race take out I'm in and we do and we

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Speaker 1: share it with everyone because we need to get to

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Speaker 1: the Indy five hundred. For sure. I've not been.

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Speaker 2: No, I definitely want to go. I do think that

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Speaker 2: there's an argument world Endurance racing passes down more important

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Speaker 2: technology than many other leagues, but F one is the

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Speaker 2: most famous for you know, giving us things that we

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Speaker 2: use on the road today.

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Speaker 1: Right, Yes, totally. And I have to say I think

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Speaker 1: the Monaco race is really fan friendly and very accessible

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Speaker 1: for people from everywhere in the city, and we cannot

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Speaker 1: say the same about Lamon as much as we love it.

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Speaker 2: Right, Well, I think, well, I'm not I haven't been

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Speaker 2: to the race in Monaco. I've been to other F

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Speaker 2: one races, and in my experience, if you're with really

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Speaker 2: rich people, it's so much better to watch these things.

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Speaker 1: Well, yes, and that may be life in general sometimes,

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Speaker 1: although not all the time.

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Speaker 3: I prefer watching a lot of racing on tea.

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Speaker 2: So my wife and I go to a lot of

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Speaker 2: motor GP races and it's great because we know people

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Speaker 2: on the paddock and we have kind of access and

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Speaker 2: we get to sort of meet our heroes. But when

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Speaker 2: when the lights go off, I'm watching TV even when

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Speaker 2: I'm there.

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Speaker 1: Yeah, I totally get it. You know, that's funny. Last

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Speaker 1: night I went to a Stars game, the hockey team

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Speaker 1: here in Dallas, and I just bought the cheap seats,

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Speaker 1: the twenty dollars seats way up in the rafters, And

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Speaker 1: you do end up just watching it on TV. But

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Speaker 1: I've been in suites at other sporting events and you're right,

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Speaker 1: you end up kind of watching it on TV there too,

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Speaker 1: so same difference.

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Speaker 2: Yeah, everyone should enjoy as much racing as possible. All Right,

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Speaker 2: we have one more quick pit stop with the advertisers,

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Speaker 2: and then we're going to be back to talk about

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Speaker 2: Ferrari's new all electric ride and the potential for a

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Speaker 2: gated shifter. This is hot pursuit. Earlier this week, Ferrari

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00:23:54,280 --> 00:23:58,000
Speaker 2: CEO Benedetto Vigna joined me and my colleague Katie Greifeld

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Speaker 2: in the Bloomberg Television studio. We're on live Bloomberg TV.

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Speaker 2: That's why you'll notice the audio sounds a little bit different,

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Speaker 2: but I thought it was important to bring you this

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Speaker 2: conversation anyway. We kicked off by asking him about the

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Speaker 2: Ferrari Icona series. Are you going to be selling more

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Speaker 2: of these iconas? These are the special, incredibly high price

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Speaker 2: tag vehicles. I heard, for example, that you can order

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Speaker 2: one with a gained shifter, which got me very excited.

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Speaker 4: Next time I come up with four million dollars, I'll

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Speaker 4: put it in my order.

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Speaker 2: But are you going to sell more of those in

434
00:24:30,720 --> 00:24:33,639
Speaker 2: the mix along with the F eighty No.

435
00:24:33,760 --> 00:24:35,560
Speaker 5: I think that we have all us to make sure

436
00:24:35,600 --> 00:24:38,920
Speaker 5: that this Icona it is super catter Limited. There was

437
00:24:38,960 --> 00:24:41,560
Speaker 5: a clear message, from a clear chart from our CFO

438
00:24:42,000 --> 00:24:45,040
Speaker 5: that was telling that a number of Iacona supercars will

439
00:24:45,080 --> 00:24:46,960
Speaker 5: not go more than five percent, and we want to

440
00:24:46,960 --> 00:24:50,600
Speaker 5: stick to it. I think that to have our client happy,

441
00:24:51,080 --> 00:24:53,760
Speaker 5: he has to fail that he owns something that not

442
00:24:53,840 --> 00:24:56,280
Speaker 5: only not too many people can have it. And I

443
00:24:56,320 --> 00:24:58,879
Speaker 5: think this is the business model. Ferrari. Scarcity must have

444
00:24:58,880 --> 00:25:01,800
Speaker 5: been managed well will to take care of the client.

445
00:25:02,440 --> 00:25:03,200
Speaker 5: This is important.

446
00:25:03,359 --> 00:25:04,920
Speaker 6: I do want to talk a little bit more directly

447
00:25:04,960 --> 00:25:08,520
Speaker 6: about Electric Ferraris because you lowered your targets to twenty

448
00:25:08,600 --> 00:25:11,719
Speaker 6: percent of the lineup by twenty thirty. Previously it had

449
00:25:11,760 --> 00:25:13,679
Speaker 6: been forty percent. We'd love to hear a little bit

450
00:25:13,680 --> 00:25:15,360
Speaker 6: more about that decision to.

451
00:25:15,400 --> 00:25:16,040
Speaker 4: Lower the target.

452
00:25:16,240 --> 00:25:19,000
Speaker 5: The reason why we drop or we reduce, we trim

453
00:25:19,000 --> 00:25:23,159
Speaker 5: it down, the split of the twenty percent of the

454
00:25:23,200 --> 00:25:26,880
Speaker 5: offer is because we have seen what is happening around us,

455
00:25:27,040 --> 00:25:30,720
Speaker 5: so we pushed. The number of model overall has been

456
00:25:30,720 --> 00:25:34,240
Speaker 5: increased overall. In number two in this mix, we increased

457
00:25:34,280 --> 00:25:37,000
Speaker 5: the terminal.

458
00:25:37,240 --> 00:25:39,080
Speaker 2: I see, when are we going to see the body

459
00:25:39,119 --> 00:25:41,160
Speaker 2: in white and when are we going to hear it?

460
00:25:41,320 --> 00:25:43,919
Speaker 4: Because apparently it's going to be amplified.

461
00:25:43,480 --> 00:25:47,240
Speaker 5: Within within h one next year we do we keep

462
00:25:47,320 --> 00:25:51,760
Speaker 5: delivering on our promises. Phase one, then phase two is

463
00:25:51,800 --> 00:25:53,840
Speaker 5: going to be let's say, in Q one, phase two

464
00:25:53,840 --> 00:25:55,880
Speaker 5: in Q two. Within Q two, can I.

465
00:25:55,840 --> 00:25:59,000
Speaker 2: Talk about something that you probably are sick of hearing

466
00:25:59,040 --> 00:25:59,359
Speaker 2: it from me?

467
00:25:59,400 --> 00:26:01,240
Speaker 4: But no analog versus digital?

468
00:26:01,320 --> 00:26:04,000
Speaker 2: Right, you're putting buttons back on the steering wheel in

469
00:26:04,040 --> 00:26:07,040
Speaker 2: the Amalfi, which I'm very not only in I know

470
00:26:07,200 --> 00:26:09,760
Speaker 2: the cat of this year. So that's fantastic. I imagine

471
00:26:09,800 --> 00:26:14,720
Speaker 2: customers asked for that. Right, You've still got fields of

472
00:26:14,880 --> 00:26:19,480
Speaker 2: screens in there, and I've driven a number of very

473
00:26:19,480 --> 00:26:23,520
Speaker 2: expensive cars where they have screens replacing these elegant and

474
00:26:23,560 --> 00:26:26,600
Speaker 2: beautiful analog gauges. You know, why don't we go back

475
00:26:26,600 --> 00:26:30,119
Speaker 2: to clocks that are an animal with with you know, needles.

476
00:26:30,240 --> 00:26:33,679
Speaker 2: Wouldn't that be more exciting for a Ferrari buyer.

477
00:26:34,400 --> 00:26:36,960
Speaker 5: Look, we said clearly that we are a big fan

478
00:26:37,040 --> 00:26:40,080
Speaker 5: of digital. It means that you use digital where it's

479
00:26:40,160 --> 00:26:43,639
Speaker 5: needed and physical where it's needed. I can't tell you

480
00:26:43,680 --> 00:26:46,720
Speaker 5: that all the time. This year we presented the five cars,

481
00:26:46,960 --> 00:26:50,399
Speaker 5: the two speech Ali six cylinder, the two Test Spider

482
00:26:50,440 --> 00:26:52,800
Speaker 5: and Coop, and the Federal a Malfi when we told

483
00:26:53,080 --> 00:26:55,760
Speaker 5: our client in the entire world that we are going

484
00:26:55,840 --> 00:27:00,080
Speaker 5: back to the button where you fill it okay, without touching,

485
00:27:00,240 --> 00:27:02,800
Speaker 5: without looking, because when you drive you need to look

486
00:27:02,840 --> 00:27:05,480
Speaker 5: at the road. Well, that was a big, big approse

487
00:27:05,600 --> 00:27:08,800
Speaker 5: we had. So we will use digital where it's needed,

488
00:27:08,880 --> 00:27:10,560
Speaker 5: in physical where it's needed.

489
00:27:10,640 --> 00:27:13,720
Speaker 2: Can I just ask about the shifters, because I spent

490
00:27:13,840 --> 00:27:15,439
Speaker 2: so much time on bring a trailer. I'm looking at

491
00:27:15,480 --> 00:27:17,760
Speaker 2: three sixties, I'm looking at four thirties, you know, sometimes

492
00:27:17,800 --> 00:27:19,360
Speaker 2: five seventy fives and six twelves.

493
00:27:19,760 --> 00:27:23,040
Speaker 4: And I noticed that the premium for a manual.

494
00:27:22,760 --> 00:27:27,439
Speaker 2: Is massive, fifty sixty seventy percent, sometimes even double for

495
00:27:27,480 --> 00:27:31,040
Speaker 2: the manual car versus the autobox. So doesn't that mean

496
00:27:31,080 --> 00:27:33,840
Speaker 2: customers want to buy that new two Look?

497
00:27:33,960 --> 00:27:36,960
Speaker 5: You have to listen to client for something. For something else,

498
00:27:37,359 --> 00:27:40,919
Speaker 5: you cannot listen for something else. Maybe some good in

499
00:27:41,040 --> 00:27:41,560
Speaker 5: for the future.

500
00:27:43,040 --> 00:27:45,080
Speaker 6: So maybe in the future you can just make a

501
00:27:45,119 --> 00:27:48,040
Speaker 6: suggestion box and Mac can put his comments directly on

502
00:27:48,040 --> 00:27:48,920
Speaker 6: their boofore yes to.

503
00:27:48,840 --> 00:27:52,280
Speaker 2: Come to sees there you cal So that was the

504
00:27:52,320 --> 00:27:55,600
Speaker 2: interview that we did this week with Ferrari Ceo Benedetto

505
00:27:56,000 --> 00:27:58,879
Speaker 2: vinya Are thanks to the Clothes and Katie Greifeld for that.

506
00:27:59,000 --> 00:28:03,080
Speaker 2: But Hannah, I thought some really interesting things came out

507
00:28:03,080 --> 00:28:06,520
Speaker 2: of this, mainly the fact that he seemed to imply

508
00:28:06,760 --> 00:28:11,240
Speaker 2: we may get a manual transmission back in New Ferraris.

509
00:28:12,160 --> 00:28:16,439
Speaker 1: This is incredible and it's really a complete about face.

510
00:28:16,520 --> 00:28:18,919
Speaker 1: If we can believe, if we're going to go forward

511
00:28:18,960 --> 00:28:22,439
Speaker 1: and believe that's what's happening, this is huge. I mean,

512
00:28:22,480 --> 00:28:27,240
Speaker 1: it's what everybody in the collector market seems to want

513
00:28:27,480 --> 00:28:31,760
Speaker 1: and real enthusiast quote unquote, I mean do you think

514
00:28:31,840 --> 00:28:33,920
Speaker 1: do you really believe that this is likely?

515
00:28:34,400 --> 00:28:34,720
Speaker 4: I do.

516
00:28:35,560 --> 00:28:40,440
Speaker 2: He used the word figital, which is a portmanteau of

517
00:28:40,520 --> 00:28:44,640
Speaker 2: physical and digital, So he basically was telling me, look,

518
00:28:44,680 --> 00:28:47,160
Speaker 2: we're going to keep the digital experience to the extent

519
00:28:47,240 --> 00:28:50,160
Speaker 2: that because I was like, why use screens instead of

520
00:28:50,200 --> 00:28:53,320
Speaker 2: going back to canalog gages? But he clearly wants that,

521
00:28:53,440 --> 00:28:56,240
Speaker 2: but he does want more physical interaction with the car.

522
00:28:56,320 --> 00:28:58,840
Speaker 2: That's why they're going back to buttons on the steering wheel.

523
00:28:58,920 --> 00:29:01,160
Speaker 1: Yes, well, I just story on that. A lot of

524
00:29:01,160 --> 00:29:01,960
Speaker 1: people are doing that.

525
00:29:02,040 --> 00:29:05,960
Speaker 2: I know you did, and and so I feel like,

526
00:29:06,320 --> 00:29:09,040
Speaker 2: you know, the most important physical interaction with your car

527
00:29:09,200 --> 00:29:11,680
Speaker 2: has to be a stick shift in this kind of vehicle,

528
00:29:11,800 --> 00:29:15,720
Speaker 2: right if you're talking about a GT car and this

529
00:29:15,880 --> 00:29:18,840
Speaker 2: kind of to me, this ties together our whole podcast

530
00:29:18,880 --> 00:29:23,800
Speaker 2: because self driving or sorry, a automuh what is it called?

531
00:29:24,880 --> 00:29:29,280
Speaker 2: Autonomous driving is I think at some point going to

532
00:29:29,280 --> 00:29:32,200
Speaker 2: be the way forward. And electric cars as well. You know,

533
00:29:32,320 --> 00:29:35,480
Speaker 2: we're gonna be in a future where everybody is commuting

534
00:29:35,520 --> 00:29:40,080
Speaker 2: in an autonomous electric vehicle, and perhaps even where you're

535
00:29:40,120 --> 00:29:43,760
Speaker 2: not allowed to drive your own car on US highways

536
00:29:43,840 --> 00:29:46,960
Speaker 2: because that would then be dangerous in a world where

537
00:29:47,040 --> 00:29:49,600
Speaker 2: car accidents are a thing of the past. So it's

538
00:29:49,640 --> 00:29:52,760
Speaker 2: only going to be like the collectors, the enthusiasts, the

539
00:29:52,800 --> 00:29:55,360
Speaker 2: people who really care, just like the same people who

540
00:29:55,520 --> 00:29:57,680
Speaker 2: like ride horses now right, you don't see them on.

541
00:29:57,680 --> 00:30:00,480
Speaker 1: The right way mechanical wristwatch, yes.

542
00:30:00,320 --> 00:30:02,840
Speaker 2: Or that, So I think you know they're only going

543
00:30:02,920 --> 00:30:08,080
Speaker 2: to want manual transmission cars for the most part, just

544
00:30:08,240 --> 00:30:12,000
Speaker 2: like uh, if you look on auction sites, as I

545
00:30:12,040 --> 00:30:14,720
Speaker 2: was talking about with Benedetto Vina, you'll see if you

546
00:30:14,760 --> 00:30:17,680
Speaker 2: want to buy a three to sixty, you're gonna pay

547
00:30:17,680 --> 00:30:20,040
Speaker 2: a lot more for the six speed, And in fact,

548
00:30:20,120 --> 00:30:23,160
Speaker 2: on bat it'll say six speed in for any even

549
00:30:23,240 --> 00:30:26,520
Speaker 2: nine to elevens in the headline, because they know that's

550
00:30:26,680 --> 00:30:27,960
Speaker 2: much more valuable.

551
00:30:28,760 --> 00:30:32,480
Speaker 1: Totally, I think you're very right, and I don't think

552
00:30:32,960 --> 00:30:41,280
Speaker 1: that these autonomous vehicles are mutually exclusive with collectible engaging

553
00:30:41,480 --> 00:30:43,720
Speaker 1: cars to drive. Just what you said, these are not

554
00:30:43,880 --> 00:30:46,920
Speaker 1: mutually exclusive things. I do believe they can exist together,

555
00:30:47,520 --> 00:30:50,200
Speaker 1: even at Ferrari as they're coming out next year with

556
00:30:50,280 --> 00:30:54,840
Speaker 1: their electric car, the Electrica or ELECTRICUFF. I probably should

557
00:30:54,840 --> 00:30:56,480
Speaker 1: say that with an Italian accident.

558
00:30:56,160 --> 00:30:58,120
Speaker 3: They drop like a C or something right to that.

559
00:30:58,240 --> 00:31:02,880
Speaker 1: Yeah, it is, it's like electric path, you know. So

560
00:31:03,040 --> 00:31:05,920
Speaker 1: Ferrari is moving forward into that space. And then if

561
00:31:05,960 --> 00:31:10,320
Speaker 1: they are coming out with some sort of manual shifting too,

562
00:31:11,080 --> 00:31:15,600
Speaker 1: that completely illustrates the idea that we can have both.

563
00:31:16,080 --> 00:31:20,080
Speaker 1: It's again it's two different tools for two different jobs,

564
00:31:20,120 --> 00:31:23,360
Speaker 1: which I think everyone's okay with. They don't have to

565
00:31:23,400 --> 00:31:24,800
Speaker 1: be mutually exclusive at all.

566
00:31:25,120 --> 00:31:29,240
Speaker 2: Well, I hope I understood him correctly, because it would

567
00:31:29,280 --> 00:31:32,520
Speaker 2: be so cool, I think especially and look, I get

568
00:31:32,560 --> 00:31:35,880
Speaker 2: that on the higher powered cars for our engineers say well,

569
00:31:35,880 --> 00:31:37,880
Speaker 2: we can't make a manual transmission that will deal with

570
00:31:37,880 --> 00:31:41,080
Speaker 2: this much power. I understand that maybe that's true. Okay,

571
00:31:41,240 --> 00:31:43,360
Speaker 2: you can buy a Hellcat with a manual or you could.

572
00:31:43,600 --> 00:31:47,720
Speaker 2: But for a car like the Roma, which is now

573
00:31:47,760 --> 00:31:51,640
Speaker 2: the Amalfi, I think that's where it works perfectly because

574
00:31:52,080 --> 00:31:55,600
Speaker 2: that's where you're not looking for two tenths on a track, right,

575
00:31:55,640 --> 00:31:57,800
Speaker 2: That's where you want to just enjoy your experience on

576
00:31:57,840 --> 00:31:58,520
Speaker 2: the back roads.

577
00:31:59,240 --> 00:32:05,000
Speaker 1: Pure driving engagement, pure driving enjoyment. As weird as we know,

578
00:32:05,320 --> 00:32:07,520
Speaker 1: I do love the Roman and I'm looking forward to

579
00:32:07,600 --> 00:32:11,960
Speaker 1: driving the Amalfi soon. And yes, that makes perfect sense

580
00:32:11,960 --> 00:32:15,120
Speaker 1: to me. We all know. I mean, nobody who is

581
00:32:15,160 --> 00:32:18,520
Speaker 1: not a professional driver can handle eight or nine hundred

582
00:32:18,560 --> 00:32:21,960
Speaker 1: horsepower with it with gears, with the gearbox. No way,

583
00:32:22,760 --> 00:32:24,120
Speaker 1: that's just ridiculous.

584
00:32:25,040 --> 00:32:29,800
Speaker 2: All right, Well that does it for today, I guess now.

585
00:32:29,840 --> 00:32:31,800
Speaker 2: I just got so excited that I can't believe we're

586
00:32:31,840 --> 00:32:32,600
Speaker 2: doing in the show here.

587
00:32:32,640 --> 00:32:34,800
Speaker 1: But we covered a lot of ground today.

588
00:32:34,800 --> 00:32:35,000
Speaker 2: Oh.

589
00:32:35,040 --> 00:32:39,000
Speaker 1: I have to also say the truckle, it's I'm wearing

590
00:32:39,040 --> 00:32:41,320
Speaker 1: it currently and it's it's working great.

591
00:32:41,680 --> 00:32:43,920
Speaker 2: Your giant your giant belt buckle, that's right. We never

592
00:32:44,000 --> 00:32:46,840
Speaker 2: came back to that. So that has an actual key

593
00:32:46,920 --> 00:32:47,240
Speaker 2: in it.

594
00:32:47,720 --> 00:32:50,160
Speaker 1: Yeah, it has a place to store. The key. It's

595
00:32:49,880 --> 00:32:53,040
Speaker 1: the same key for it has across all its products,

596
00:32:53,040 --> 00:32:55,400
Speaker 1: but this has a little carrier for it.

597
00:32:55,480 --> 00:32:56,160
Speaker 3: So love it.

598
00:32:56,200 --> 00:32:56,720
Speaker 1: Yeah, that's cool.

599
00:33:01,360 --> 00:33:04,560
Speaker 2: All right. Well, I look forward to seeing you again here,

600
00:33:04,720 --> 00:33:06,880
Speaker 2: same time, same place, next week.

601
00:33:07,280 --> 00:33:10,000
Speaker 1: That does it for this week's show. Remember to follow

602
00:33:10,040 --> 00:33:14,240
Speaker 1: and subscribe to Hot Pursuit on Apple, Spotify, and anywhere

603
00:33:14,240 --> 00:33:17,360
Speaker 1: else you listen. You can also send us your comments.

604
00:33:17,800 --> 00:33:21,600
Speaker 1: Email Matt and me at Hot Pursuit at Bloomberg.

605
00:33:21,120 --> 00:33:24,240
Speaker 2: Dot m Check out Hannah's columns and stories on Bloomberg

606
00:33:24,280 --> 00:33:27,360
Speaker 2: dot com and the Bloomberg Business app. Go there for

607
00:33:27,440 --> 00:33:30,480
Speaker 2: car reviews, events and stories that you won't find anywhere else.

608
00:33:30,800 --> 00:33:34,240
Speaker 2: Find it all at Bloomberg dot com, slash Pursuits, slash Autos.

609
00:33:34,840 --> 00:33:38,000
Speaker 1: I'm Matt Miller and I'm Hannah Elliott. We'll be back

610
00:33:38,000 --> 00:33:40,200
Speaker 1: in your podcast feed again next week