Ferrari's gamble to abandon 2025 development last April is paying off. The Scuderia earned a B+ at mid-season, sitting second in both championships behind Mercedes on what may be the grid's best chassis. Fred Vasseur's squad came out swinging with innovative aero—an inverted 'Maracena' wing and exhaust winglets that had rivals scrambling to copy. Lewis Hamilton and Charles Leclerc have each won a race, with Hamilton now locked in a title fight with Mercedes' Kimi Antonelli. The weakness is clear: Ferrari's power unit bleeds several tenths on the straights, neutralizing the chassis advantage. Race execution has been spotty—setup whiffs in Austria and Hungary cost podiums. The bigger question is sustainability. Ferrari has thrown updates at the car every weekend, a pace that may not hold through the second half while Mercedes plays the long game. The Scuderia set the standard. Holding it is another matter.

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