Sergio Marchionne: Ferrari punished for ignoring quality control

Ferrari season 'not lost' claims president Sergio Marchionne

Sergio Marchionne confident Ferrari will catch Mercedes in final four races

Marchionne also said the Vettel's engine issues at the start of Sunday's race were due to a "59-euro spark plug that impacted a auto that costs millions of euros".

Ferrari has been hit by a number of reliability issues lately which has scuppered Sebastian Vettel's hopes of securing a fifth title as Mercedes' Lewis Hamilton has opened up a huge 59-point lead.

But Marchionne remains in bullish mood over Ferrari's chances of a first drivers' championship since 2007. Both titles could be wrapped up in Austin, Texas, in two weeks' time. He crashed out in Singapore on the first lap after a collision with team mate Kimi Raikkonen.

Fiat Chrysler Automobiles chief executive Sergio Marchionne says that there is now no viable economic model to produce electric cars and make a profit. Though this was not completely unexpected because last August after an earnings call we heard him saying that Ferrari making its own version of an SUV will "probably happen". But now we've had at least three occasions where we've really seen the devastating impact on performance.

"I do not speak about bad luck because I do not believe it", Marchionne added.

"We're dead serious about this", were the exact words of Sergio Marchionne when referring to their plans about making an SUV model for the esteemed supercar company.

"Without being arrogant, I think it is at the same level if not better than Mercedes' today". The important thing is to not lose the confidence that has brought us here so far. "I'm sure if we'd not had any problems like in the last three races, we would be having a different discussion".

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