Marchionne: Ferrari set for another tough year

MARANELLO, Italy — New Ferrari chairman Sergio Marchionne warns that 2015 will be another tough year for the Italian Formula One team.

Ferrari failed to win a race last season for the first time since 1993. The year also saw three different team principals, while Marchionne replaced Luca Di Montezemolo as president.

Marchionne said Monday that "it will be a rebuilding year. Choices made in 2014 will have inevitable repercussions on 2015 as well and so we'll be starting a bit late."

Maurizio Arrivabene was named as Ferrari's latest team principal last month, replacing Marco Mattiacci, who lasted only seven months on the job after being hired in April to replace Stefano Domenicali.

Arrivabene says "if we win two grands prix it will be a success, with three it would be a triumph."