Hoping for a turnaround
Ferrari's timely return to the front row of the Formula One grid bodes well for the luxury sportscar maker as it prepares to list shares and split from parent Fiat Chrysler Automobiles.
After years of under achievement, the world's most successful motor racing team has been on the podium in each of the first five grand prix this season, with driver Sebastian Vettel securing a long overdue victory in Malaysia in March.
That win ended a moral-sapping run of 34 races without success dating back to May 2013 - the longest losing streak for the celebrated champions in two decades.
The turnaround gives FCA Chief Executive Sergio Marchionne a lift as he seeks to convince investors that Ferrari merits a valuation of at least 10 billion euros ($11 billion) - at the top end or even above a range of 4-10 billion euros floated by bankers for the luxury carmaker and its prancing horse logo.
Formula One symbolises what Ferrari stands for: ultimate performance, groundbreaking technology, the best in terms of design and a legacy of racing wins, said Manfredi Ricca, head of brand consulting group Interbrand's Italian office.
"A successful Formula One team adds some incremental value to the Ferrari brand and the brand is going to be a key component of Ferrari's valuation in the IPO," he said.
"It's the most effective advertising. It's about keeping a promise and bringing it to a global audience."
Text: Alan Baldwin and Agnieszka Flak, Reuters
Image: Ferrari driver Sebastian Vettel of Germany, right, is flanked by his teammate driver Kimi Raikkonen of Finland in the paddock at the Formula One Bahrain International Circuit in Sakhir, Bahrain, Thursday, April 16, 2015.
Image courtesy: AP