Everything John Elkann said about the Ferrari F1 team in rare open letter

Ferrari chairman John Elkann has admitted that the Maranello outfit underperformed in 2025 in an open letter to stakeholders.

Elkann said Ferrari “fell short of ambitions” during a difficult 2025 F1 season but was keen to stress a message of “accountability and determination” as the team looks to bounce back this year.

Ferrari slipped to fourth in the constructors’ championship as it failed to win a grand prix for the first time since 2021, while new star signing Lewis Hamilton endured a hugely disappointing debut season after completing a blockbuster switch from Mercedes.

The Scuderia has already enjoyed a much stronger start to 2026 after emerging from the winter as Mercedes’ nearest challenger. Ferrari currently sits second in the constructors’ standings, 31 points behind Mercedes.

Ferrari has taken two podiums behind the dominant Mercedes duo, with seven-time world champion Hamilton sealing a long-awaited first rostrum appearance at the 26th attempt at the Chinese Grand Prix last time out.

In the letter, Elkann told stakeholders: “Ferrari returned to win the centenary edition of Le Mans, fifty years after it last took part in the race, and went on to secure three consecutive wins with three different driver line-ups, a testament to the unity and collective strength of the team.

“Formula 1, by contrast, fell short of ambitions. But Ferrari has always understood that racing is as much about learning as winning.

“Ferrari’s founder Enzo Ferrari kept what he called a “museum of mistakes,” a cabinet of broken parts collected in pursuit of progress. That mindset remains essential today: accountability and the determination to return stronger.”

You can read Elkann's full open letter here. 

After last year’s Sao Paulo Grand Prix in November, Elkann criticised both Hamilton and team-mate Charles Leclerc and told them they “need to focus on driving and talk less”.

“We definitely have drivers who need to focus on driving and talk less because we still have important races ahead of us and getting second place is not impossible," he said at the time. 

"In Bahrain, we won the World Endurance Championship title. When Ferrari is united, we get results.”

Ferrari came closest to ending its near two-decade wait for a world title in 2024 when it was beaten to the constructors’ championship by McLaren by just 14 points.