Ferrari announced on Thursday that it will raise prices by up to 10% on certain models following new U.S. auto tariffs, with price increases potentially adding as much as $50,000 to the cost of a typical Ferrari. The luxury sports car maker, based in Maranello, Italy, clarified that prices would remain unchanged for all cars imported before April 2. However, starting after that date, the prices for three of its model families—Ferrari 296, SF90, and Roma—will stay the same, while its more popular models, including the Purosangue SUV, the 12Cilindri, and the F80, will experience price hikes.
For the Purosangue SUV, which starts at approximately $430,000, the price increase will be around $43,000. For the limited edition F80, which has a starting price of more than $3.5 million, the increase will be substantial, adding over $350,000 to the price tag. The price hikes are a direct response to President Donald Trump’s announcement of 25% tariffs on all cars not made in the U.S. Ferrari, which manufactures all of its vehicles at its Maranello factory, will be impacted by these tariffs despite producing cars outside the U.S.
While it remains uncertain what effect the tariffs will have on Ferrari’s sales, the company already has a waiting list of more than a year for most of its models, and its buyers are typically wealthy enough to absorb the added costs. Ferrari also stated that it is maintaining its financial targets for 2025 but acknowledged a potential risk of a 50-basis-point decrease in profitability margins due to the tariffs.
Ferrari CEO Benedetto Vigna discussed the importance of balancing price increases with customer sensitivity in an interview earlier this month. Despite its affluent customer base, he emphasized that Ferrari must respect its buyers and treat them properly. He mentioned that the company wants to ensure that its customers feel valued, which is a key aspect of Ferrari’s business strategy.
Shares of Ferrari saw a slight increase on Thursday morning, while shares of major U.S. automakers largely declined. Ferrari’s decision to increase prices reflects the broader impact of global tariffs on luxury goods, and it remains to be seen how this move will affect the company’s sales in the U.S. market.
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