Ferrari has announced it will raise the prices of some of its car models sold in the U.S. in response to new tariffs. The luxury carmaker made the announcement on Thursday, while also stating that it largely plans to stick to its financial targets for the current year.
The U.S. government announced a 25% tariff on auto imports on Wednesday, which has the potential to shake the entire global sector, as vehicle suppliers worldwide have warned of potential immediate price hikes. Concerns have also been raised about job losses in countries heavily reliant on the car industry.
The new tariffs on cars and light trucks are scheduled to take effect on April 3rd. Ferrari, which manufactures all of its vehicles at its Maranello facility in northern Italy, stated that it will increase prices by a maximum of 10% on all models imported after April 2nd. The company stated this will be done in coordination with its dealer network. The terms will remain the same for all orders imported before that date, as well as for all 296, SF90, and Roma models, regardless of the import date.
The group also confirmed the financial targets for 2025 that were set last month while adding that there could be some impact on its goals regarding profitability.” (There is) a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins),” the company stated. In February, Ferrari anticipated an EBIT margin of at least 29% in 2025 and an EBITDA margin of at least 38.3%.
