Ferrari Announces Price Increase of Up to 10% on Certain Models Due to New U.S. Auto Tariffs
In response to new U.S. auto tariffs, Ferrari has announced that it will be raising prices by up to 10% on certain models starting April 1. This price increase could add up to $50,000 to the cost of a typical Ferrari, impacting some of the brand’s most popular models.
The Maranello-based sports car maker stated that prices will remain unchanged for all cars imported before April 2. However, after this date, the “commercial terms” for three model families – the Ferrari 296, SF90, and Roma – will stay the same. On the other hand, other popular models such as the Purosangue SUV, the 12Cilindri, and the F80 will see price hikes of up to 10%.
For example, the Purosangue SUV, starting at about $430,000, will experience a price increase of around $43,000. The limited edition F80, with a starting price of over $3.5 million, will see a price hike of more than $350,000.
President Donald Trump recently announced tariffs of 25% on all cars not made in the U.S., affecting Ferrari as the brand manufactures all its cars in its Maranello factory. Despite the potential impact on sales, Ferrari already has a waiting list of over a year for most of its vehicles, and its affluent clientele is likely able to absorb the price increases.
Ferrari’s CEO, Benedetto Vigna, emphasized the importance of respecting customers when considering price adjustments due to tariffs. He stated in an interview with CNBC that while Ferrari buyers are wealthy individuals, the company must still be sensitive to passing on too much of the added cost to them.
In addition to announcing the price increases, Ferrari also confirmed its financial targets for 2025 but noted a potential risk of 50 basis points on profitability percentage margins. While Ferrari’s shares were slightly higher following the announcement, shares of other U.S. automakers, also impacted by the new tariffs, experienced declines.
Overall, Ferrari’s decision to raise prices on certain models reflects the challenges faced by luxury car manufacturers in navigating the impact of changing trade policies on their business operations and customer base.
