Luxury automaker Ferrari has announced price hikes on select models sold in the United States in response to newly imposed tariffs. Despite the changes, the company affirmed that it will largely adhere to its financial targets for the year.
On Wednesday, the US government introduced a 25% tariff on auto imports, sending shockwaves through the global automotive industry. Suppliers worldwide have raised concerns over rising vehicle costs and potential job losses in major car-manufacturing nations. The new tariffs on cars and light trucks are set to take effect on April 3.
Ferrari, which manufactures all its vehicles at its Maranello facility in northern Italy, stated that prices will increase by up to 10% for all models imported after April 2, in collaboration with its dealer network. However, orders imported before that date, as well as 296, SF90, and Roma models, will remain unaffected.
The company reaffirmed its financial targets for 2025 but acknowledged a possible impact on profitability. “(There is) a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins),” it said in a statement.
In February, the automaker projected an EBIT margin of at least 29% and an EBITDA margin of at least 38.3% for 2025.
