Sergio Marchionne, chairman of Ferrari, believes Formula 1 needs to decide on its direction for 2017 and beyond.
Many different proposals were suggested at a recent meeting between the teams and Charlie Whiting of the FIA. These are aimed at making Formula 1 cars at least five or six seconds a lap faster. This will be attained by increasing the size of the tyres and wings, making the cars lighter and installing engines that can rev far higher than the current generation.
Marchionne feels that decisions about these changes for 2017 need to be made sooner rather than later.
"That is the year we can make a significant change in the rules, in the way in which the cars are constructed, the way in which we look at the power and the aerodynamic side of the car. We need to hurry up and get it done."
He also believes that Bernie Ecclestone and all the other teams in the paddock understand that some form of change is necessary.
"Bernie and I, and the rest of the teams, recognise the importance of making the right calls for the development of the sport. To say he and I, and the rest of the constructors, are happy with the development of the sport over the last four or five years would be blasphemous. It's not true," he said.
Ferrari, he added, were more than willing to be part of the challenge that he foresees Formula 1 undergoing. "We have a challenge ahead of us, and Ferrari has indicated its willingness to participate in the shaping of the sport."
Although he understand that cost cutting is necessary, The Italian feels that currently, Formula 1 fans are been done a disservice.
"This ought to be the pinnacle of auto. There is nothing more technically advanced, more unknown in terms of outcome than this, where you get a combination of drivers and technology coming to bear. Let's not kill that drive."
Marchionne says that many in the paddock support the proposed regulation changes.
"I have had conversations with Dieter Zetsche (Daimler chairman) and the other people on the F1 Commission, Toto (Wolff), Niki (Lauda) and so on. We're all committed to doing the right things to try to bring the sport back.