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Benedetto Vigna
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- 42
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- 2022-09-07
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- 2022-09-07
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“Today with the Web 2, we have the social network, all this texting, I mean, spend time with the people. You cannot live in too digital world. You need time good, quality, time with people. So third is relation with people. And then last but not least, keep learning. And I keep, keep learning from everyone everywhere and always. There is nothing wrong because our brain never get tired of learning. So it's hard work, it's continuous learning, it's passion, and it's people relations. Stay with others.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“This I am a prepared because I was asked the same question by another journalist. There are four things or important. Number one, you have to work hard because nothing comes of free. If something comes for free, it's not long-lasting because you have to fill it. And this is the experience I was gaining that usually you gain with the life. It's important. Number two is about do things with patient. Don't follow the money. If you select a job because they pay you more, but you don't have patience, you are losing the most important asset of your life. That is the time, the life. Number three, and I think this is very important in nowadays, and I keep talking always with my daughter, she's 17 years old, is a people relation.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“It's nice. There are interesting considerations. No, I read the books of different kind. So there are books. Usually the books I prefer are the books written by the Nobel Prizes, not in chemistry or in physics. This I don't care, quote-unquote. It's more about economy, literature. There is one author that I likes a lot. is Daniel Kahneman. I like a lot. I read recently his latest book, Noise. But these are books I like. I have several books. My wife is always getting upset because I buy a lot of them and then there are some days where I read more, some days where I do less. But I never travel without books. Never.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“I cook, yes, but when I'm not alone, I don't need to cook. I have fun to cook when we are with some friends. Here I have many friends, even from the elementary school. I can tell you that I have spending at least 50%, if you want, of the dinner are with friends that I know here since many, many years. But then I like to do some sporting activities. And I like a lot. I like to spend time with my daughters, especially in the weekend, more time, because we are more free. I am in modern. She's in Geneva. But last weekend, I was doing physics, not so funny, but I had to do physical mathematics with her.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“And you think more to transform and not only to perform because when you are, if you balance well the time between the work and the personal life, the family life, the friends, I have a lot of friends. I mean, these are something that for me are not negotiable, are not negotiable. It's important because you are more balanced. I don't think it's good to have a workaholic person, in my opinion. This is my limited view as a CEO because otherwise you transmit bad information. I mean, the life is not only about work. There is also other things. And a lot of times you find a solution on the work because you have this free time and you connect, you have the ability to bring on your network other people and other input. So this is for me very important”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Learned, and I'm sure I will continue to learn to make the agenda a little bit more loose. So when someone is coming to me and asking, I would like to discuss about this. And then I can arrange usually within one day or I mean the same day. Let's talk now. And this is something that I'm using a lot here in Ferrari because I want to pass a message that the lose agenda is not because you are”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“I was discussing with the team before that this is one important task of a CEO, the work-life balance for me is very, very important. I can tell you that I was not so good till 2011, 2012. After that, also because of this experience, it was very useful. So the work-life balance for me is important. It means that I have always find time for myself, either to do some reading or to do some activities. I think it's important. And also to have a free time on the agenda when you want to allocate time, when you want to meet anyone. So the agenda, I was used to have an agenda, as I told you till 11, 12, that is very packed. And then you don't drive the agenda. It's the agenda driving you. Since then, I...”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“This valley that you appreciate what you are not appreciating before. So I think that you always keep, you need always to keep alive the fire of the progress.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, you are always, always to listen. You don't tell to sit. Especially when a customer is asking you something, pay attention because someone has been already proposing him. And then this was very important also because my team was very small until 2005. I mean, we were around 100 people. And those people went through the down and then they see the up. Then we scaled up the team from 2005 to 2011. So the people that joined that period were all only looking at always grow. They did not conceive the fact that you can go down. So the second phase when we went down and then we recovered very well was also important for the growth of the professional grow of the people because people must understand that life is not always one sign. It goes up and down and is especially”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I think I like to keep track. I mean, the time is important for me. The time is very important. Then the second phase came in here 2011, 2013. There were some setbacks. We did a mistake. The mistake was that we created the market. We took more or less 100% of this market. We did the mistake to undervalue the power of the competition. So when the customer were coming to ask us to do something more innovative since we had big market shares, we were saying, you know what, if you want, this is. So when the customer were asking us something new, instead thinking that maybe someone else was offering them these things, we were demonstrating the customer that he was wrong, that this was not necessary. And then we did a mistake.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Business plan. I can remember all the dates because if I remember the date of my daughter when it was delivered, no, this was not an easy period because you had on one side to work to make things happen. On the other side, you have to const daily to make sure that activity was not going to be shut down. So you were always living on the thin red line. And approval of the plan I did in the previous company came 16 June 2005. And this is why also here I said 16 June 2022 we have the Capital Market Day. It was a way to remember.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Now, look, when I started, it was 95. I can mention two important ones. I started in 1995 and I was alone creating this business. And I remember that for the first five years, the company was working for, they were using me, quote-unquote, just to show their main customer that I was the guy doing R&D. After five years, I said, no, now we stop. I want to do these things. I don't want to be shown like a monkey to the strategic customers to show that we are doing something funny. I want to make things happen. So in year 2000, I started to work on my own ideas with the team, and we started to see the first dollar revenue in 2005. And we were at risk of shutting down all my activity, so it was not easy. I remember that there was my wife delivering our daughters, and I was telling her, please wait because I have to submit the”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Instead, people are more, if you want, shy and they don't patent a lot. And then if you go in the luxury, they even patent less if you want. So I'm pushing more in this direction because sometimes small detail, small things deserve to be patented because the patents are going to become more and more important in the future and we have to protect. We as a luxury companies, we have a lot ideas that can touch the cars, but can touch also other luxury products we do and we have to patent them.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“The technology, the patent are a tool, let me say, are not an objective. For me never. I was always telling, and I'm telling the people, the technology is a tool. You don't go to buy in a supermarket the latest generation product only because of the technology. The technology, the way, the emotion that it associates, it resonates. And this is, I think, In Ferrari, we are using the state of the art technologies. We are pushing a lot on patent. We are pushing one thing that I'm doing here, yes, is to patent more and more. Why? Because the patents are a way to protect your own ideas. This is maybe another difference between high-tech and automotive. Usually high-tech, you patent more than in automotive. Because some people believe in high-tech, new patent also very small things, small details.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, yeah, but this is a story. Yes, I've been using the technology to achieve only one objective to delight the people that are using what we are doing. I mean, Nicola, I was studying at the university physics and then I left that world to make something that helped to create this kind of prosperity across the supply chain. Call it the company, call it the stakeholders. I would like to see something that is generating some value across all the value chain.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“It has. And when I talk about partners, I mean the suppliers, the customers, the owners of our goods, of what we sell, and also the academic players. So it's a way, I feel that I can contribute to a kind of shared prosperity of all the stakeholders. I never came to work here or the previous life to make an object. No, this is not being the driver. Sometimes it's funny because people look at my background and they think that what is driving me is the technology. Instead, what is driving me?”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“This is a nice question. Maybe it's the most important one. The one I like the most. There are several reasons, but the most important one, Nikolai, is here to make together with him to make a difference and to show, together with the team, to show that we can make a difference. We can make things in a different way. I like it a lot, for example, one article that was published a few weeks, a few months ago. The title was Ferrari Want to Show that in luxury space you can make things that other people cannot do. I mean, I would like, if I go to summarize, I like to show to the world, with the team, and with the stakeholders, we can make a difference. This is important, the story of the stakeholders, because if a company can make a difference, it's because also of all the partners”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, it's not an SUV for a simple reason, Nikolai. Usually, when you are in SUV, I don't know, but when you are in SUV, a lot of people take SUV because of the way you sit. A lot of times in many SUV, you sit like you drive a truck. Well, this is not the case for our Purozango. You will see. The way you sit, the way you feel, the way you can go on turns is completely different. So there are some technology in terms of vehicle dynamics, some technology in terms of traction. You will see, I mean, this is not at all an SUV because it's not a utility vehicle. It's a vehicle that is enhancing the performance and the emotion, the driving trills of the drivers.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, that's true, especially in USA. Especially in USA. I mean, the growth of the people watching the Formula One has been growing a lot. And I think next year we're also Las Vegas coming on the circus. It's going to be even much more because next year we will have 24 racetrack. Las Vegas, also because it's Las Vegas, will attract even more. What we see also, I was looking at the data, we see also a strong attraction of Formula One among the girls, the teenagers, customer and partners, often asking me some video, some comment by the two pilots for their daughters or nephew or those things. So, yeah, this is true. If I think the requests are coming mostly from girls and women, no men asking for video or interview. With Charlotte Carlos.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“I would like to say that we have done some mistake and we have to with humility, we have to understand them and to look forward. And that's what we are doing. So we had some engine failures, some car failures. So when you have failures, there is only one thing you can do. You admit, you work, and you fix Some areas of improvement on the strategy, and that's also what we are doing. So at the end of the story, to win Formula One, it's like any business. You need the product, the cash. You need the strategy. And you need also the driver, the pilot. The three must work all together to bring the, we have not been perfect in the current season, but we have to improve and let's say we have the will to progress that we have I have no doubt that we will improve.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Track and we move on the road number three is also if you want a good platform to nail down some important partnership commercial and technology with many partners because the visibility at Formula One has now clearly if you want when we win during the weekend the phase of the people that I meet in the company Euro Monday is more smiling than when we don't win and this is I would say these are the dimensions why Formula One is important for us”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“You ask me what is the impact of Formula One weekend on the sales of the car, basically there is no correlation, no causation, no correlations. If you ask me instead what is impact of Formula One, well, Formula One has been always part of the DNA, the racing has been always part of our DNA, and it will be always part of the DNA because the racing is the manifestation if you want of this will to progress. So for us, Formula One is important for three reasons. Number one, because it remembers us that to excel, you have to pay attention to all the detail, and it's always there. I mean, you cannot sit. It's a continuous progress. This is number one. If you want, on the soft side, it remembers the importance to be always competitive and never sit. Number two, it helps also because it helps to develop some technologies that we develop on the”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm not worried. I mean, if I go in the lab and I see the competencies of the team and I see the way they are created. And the will to progress that people have. And let's say the continuous strive for excellence. This is very important here, Nikolai Inferrare. If you give a hint, if you need a hint, if you give a direction, the system moves very fast.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“The sound is a way to enhance the driving trails is part of the experience of driving a Ferrari. Each sound has its own signatures and we have also to understand that electric engine does not mean silence. There is a sound also coming from it. It's up to us, and that's what we are doing, and that's where we are also filing a lot of patent on good and innovative ideas of the team that will make the sound unique and distinctive for our Ferrari. So we profoundly believe that also the electric Ferrari will be a true Ferrari.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“I believe it's because the people don't know that our electrification journey started already 13 years ago. I mean, it was 2009 when we started to put the engine on Formula One. And then after Formula One, we moved to La Ferrari, to the Supercast. And then after La Ferrari, we went with SF90, and then 296. Today we have four car on the road, let me say in high volume for what eye volume means obviously in Ferrar, you know, a few thousand car per years that are hybrid and are using already all the electric tractions. So we are not starting the journey now. The journey started 13 years ago, and we are aiming and we will unveil our electric car in a full electric car in 2025.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“I can tell you yes, I am one of the epithu, but I can also tell you that we have a well certified, let me say, model algorithm by which, for example, we assign the cars, the special edition, limited edition, and icona. So we have some special codified procedures that we are following, while for the normal car if you want, well, we have also there, we followed the time, the clear criteria. It depends when the customer are placing the order, which is the time also for the mullogation of the car in different countries, because different countries have different kind of malgation criteria. So we are respecting the order, the insertion order date.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“We see a stronger, especially in the new customer base, we see a strong interest by female. I do not remember exactly the numbers, but I would say that one over five, one over five, one over six is female on the new customer base.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“We have many. We have the passionate and then the pilot, different way to use the cash. And I think we are well covering needs and the experience they want to try. We have customers whose average age is in the range 50. And I can tell you that 40% of the new customers are younger than 40 years. If you go to see the data, For me it's impressive to see also that if you want the average age of the customer of Ferrari customers is relatively young and then you also a distribution of the age is such that around 35% of the customers of Ferrari is between 35 and 50 years old.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Think the MBA is good in the sense that it's telling you the basics, okay? He's telling you the basic. At the end of the story is an end-on experience that is making a difference. But in MBA, for me, what is good is that you know the things that you don't know. And then you work on it.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“There is a process pretty good. We select talent that attend some MBA mastering business administration. We have a deal with a company here in Bologna, with Bologna Business School. We have different kind of MBA. We select these people that attend over there. And this is really good. It's working very well. So we have people attending this for more than one year. They also go in to see different companies. They go in other places in the world to have this experience. And then there is another thing, Nikolai. I mean, I keep talking, I mean, I talk to them. For me, there is the best way to know people is to talk to them and to listen.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“After 20 years I'm working, I understand why it's important, this detail. And you see, I mean, one other was crying because of the experience she had going in Ferrari first time in the life. So I think when I say transformational, I think that you have to start from the feeling and the emotion of the people. I mean, the brain is important, yes, no doubt. But before the brain, there is the feeling of the heart that is powering the brain.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Downstairs, and he wanted to tell me something. He was pleased because I took some initiative and I told him, come here, come upstairs, let's take a coffee together. And he was very, very... And this is for me important. If you want the people to talk, you have to give them, first of all, you have to give them opportunity. Secondly, you have to listen to them. So when I came here one year ago, I ended up, I mean, I talked with more or less 300 people one-to-one before to take some decision that brought me to this new organization. And some initiative that I put in place now are consequence of the suggestion I got from these people. You know, we had the people in Ferrari, Nikolai, that never had the opportunity to be in a Ferrari. So we had the people that working in the company for 20 years never were in Ferrari. So I said, okay, let's start. So we organized during the test drive of the car, we have the people that are going In Ferrari. And I remember that I was talking with the people of the company. There was a lady that was working on the manufacturing. She was very pleased that she told me Benedetto, I understand that.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Okay, a few things, Nikolai. I made a leaner the organization. So inside each function, I got rid of some level and then I opened the organization. Then there are some other things that I believe are very important. And it's the way I think I behaved. I go to talk with all the people from first to last. What does it mean? That I can go to talk with operators, I can go to talk with engineers, I can talk with the people working in communication or whatever. Because usually what it happens, and this is a mistake that I always try to avoid, that usually the CEO end up talking with a limited set of people and they see the reality through the lenses and the eyes of these people. And this is, and I don't believe it's good. I've been trained and I always been doing this in my professional life to talk with all the people independent on the level. So my biggest satisfaction was just before summer when there was an operator waiting for me.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Goes ending end with the sentence of Enzo Ferrari, the company is made of people. Today we are living in a period, this decade, I think, is characterized more than the previous one also because of some other reason, the geopolitical tension, because of the pandemic, is characterized by uncertainty. When you are in a situation of uncertainty, what is important is the way you are able to drive in this situation together with the team. You cannot say today in 2027, I will make this or that. You have to define where you want to go, yes, but the way you make it happen, it's going to change. What is constant is the way you mobilize resources and the way you involve the people to achieve that goal.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Think there were several dimensions. Number one, yes, because I know a little bit about technology. I think there is also another dimension was the international experience. Is also a third dimension. I think we got a good agreement on the leadership style. I mean, my leadership style, I would say, is more transformational, is more to make things happen through the involvement of all the people. And there is also, I think, another dimension that is the ability to create entrepreneurial approach, because I was able to build some business in a place where the competition is very strong.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“But I think also if you are in a startup and you may try whatever you want, if the mistake nothing happens, if you are in a company like Ferrari with a strong brand, well, you have to make sure that everything you do is coherent with the brand.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, Ferrar is a luxury company. In the luxury company, the speed of change is different than in high tech. And the two goes end in end, because the lack of heritage in this high-tech companies allows you to move more freely and with higher speed.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“You can really see when you were around in the town the people that are dressing the red suit, the operators, that proudly dress it. Usually, when you work in that role for other companies, you get rid of that suit right away. You don't want to go around in that way. And this tells you a lot because this true sense of belonging goes, I think, touch all the level of the company. And this is very important. And you see that you find the people dressing in this way in all the town, especially when you are under Christmas time. It looks like you are in the city of Santa Claus. So it's not Rovaniemi, it's here.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Because there is a true love, a true passion. Many people in other companies say that they are driven by passion. But the passion here is a deeper level. There are three kind of companies, I think. There are companies where the people work for the boss. There are companies where the people work for the company. And there are companies where the people work for the values, for the purpose, for the myth. Here people work for the princing for what the prancing horse represents. And the prancing horse represents this continuous will to progress. I would say that the prancing horse is really, if you want, it is the symbol of a religion. And the religion is, yeah. I can tell you this I have several friends in Silicon Valley.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“Not so much, deep, Nikolai. I have dealt in my life with many, many companies, big and also many startups. But this will to progress, this concept, the things are constantly in motion and you have to materialize and to make it happen and to transform in reality. For example, the startup, what is the startup usually? It's a set of people that have an idea and want to achieve that goal to make it happen. And most of the time, correcting if I'm wrong, once you get there, you have only one goal. To sell it at the highest price and to materialize in the sense that you monetize. Few of them have the ambition to scale up like some of the companies that we all know in the Silicon Valley. But I think it's different.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“The polar I mean, what is the history of humankind? It's driven by dream that you have to make it happen. Well, this is Ferrari. One year ago I joined Ferrari, the 1st of September, and I read many things about Ferrari because I was living Ferrari from the outside world. But when you are inside, you deeply understand, I think, the meaning of what I was saying. It helps humankind to make it happen. The dreams that drive the progress of humankind.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source
“No, no, no. Ferrar is made of people. And the people made, among other things, also the cash. But we are a luxury company. And we are a family of people that have the passion to make unique things, exclusive things with the continuous and always alive will to progress. This is Ferrari. sell emotion and experiences.”
2022-09-07 · In Good Company with Nicolai Tangen · Benedetto Vigna CEO of Ferrari · IDENTIFIED FROM THE TRANSCRIPT · source