Arrivabene, who is about to embark on his first season in charge of the Italian team, was echoing comments made by former driver Niki Lauda.
Lauda believes F1 needs to overhaul the rules, and the Italian agreed.
Arrivabene said: "I've read what our friend Niki has to say. He's top of the class, whereas I'm sitting about four desks further back. I share Niki's view that Formula One needs to be more spectacular and I believe that the risk he evokes of the sport losing fans is something that has unfortunately already happened.
"By 2017, I too would like to see cars that win over the fans, with cars that they can get closer to and that are aesthetically more appealing, maybe even producing a noise that gets your hair standing on end, like that produced by a heavy metal band. That was what it was like back in the day when Niki was racing and I was an enthusiastic fan, clutching my general admission ticket."