Ferrari has revealed intentions to raise prices on certain models offered in the United States due to newly enacted tariffs. Nevertheless, the luxury automobile manufacturer has assured that it will predominantly uphold its financial objectives for the year.
On Wednesday, the U.S. administration implemented a 25 percent tariff on vehicle imports, sending shockwaves throughout the global automotive sector. This decision has led automotive suppliers globally to brace for immediate price hikes and sparked worries about possible job cutbacks in nations heavily dependent on car production.
The tariffs on automobiles and light trucks will be enacted on April 3rd.
Ferrari, which assembles all its cars at its Maranello plant in northern Italy, announced it would increase prices by up to 10% on all models brought in after April 2nd, in collaboration with its dealer network.
Orders placed before this deadline will retain existing conditions, as will all 296, SF90, and Roma models, regardless of their import date.
The firm reaffirmed its financial targets for 2025, established last month, mentioning that there might be some influence on its profitability aspirations. In a statement, Ferrari pointed out a potential risk of a 50 basis point decline in profitability margins (EBIT and EBITDA margins). The company had previously projected an EBIT margin of at least 29 percent and an EBITDA margin of at least 38.3 percent by 2025.