Sergio Marchionne says he is happy Ferrari is now "feared" once again by its top F1 competitor.
After a decade-long title drought, Sebastian Vettel is leading the world championship after the opening four races of 2017.
"We have made significant progress," the Ferrari president is quoted by Italian media, including La Repubblica newspaper.
"Some would call our recovery miraculous compared to 2016," Marchionne added.
"Ferrari is competitive once again and feared by our adversaries in Stuttgart," he said, clearly referring to Mercedes.