Ferrari said Thursday it will raise prices by 10% on certain models after April 1 in response to new U.S. auto tariffs, adding up to $50,000 to the price of a typical Ferrari.
The Maranello, Italy-based sports car maker said prices will remain unchanged for all cars imported before April 2. After that, the “commercial terms” for three of its model families — the Ferrari 296, SF90 and Roma — will “remain unchanged,” the company said in a release.
Yet, its more popular models, including the Purosangue SUV, the 12Cilindri and the F80, will get price increases of up to 10%.
For the Purosangue, which starts at about $430,000, that price hike amounts to about $43,000. For the limited edition F80, which starts at more than $3.5 million, the increase will add more than $350,000 to the price tag.
President Donald Trump on Wednesday announced tariffs of 25% on all cars not made in the U.S. Ferrari produces all of its cars at its Maranello factory.
Last year, Ferrari produced 13,752 cars. The company plans to launch its first all-electric Ferrari in October.
It is unclear what effect the tariffs will have on Ferrari sales, since there is already a waiting list of more than a year for most of its vehicles. Ferrari buyers are generally wealthy enough to easily absorb the price hikes.
Ferrari also said Thursday it “confirms its financial targets for 2025” but added that there is a “potential risk of 50 basis points on profitability percentage margins.”
In an interview with CNBC this month, Ferrari CEO Benedetto Vigna said even though Ferrari buyers are wealthy, the company has to be sensitive to passing on too much of the added cost of tariffs.
“When we look at the client, we consider that these people to buy a Ferrari, they have to work,” he said. “We have to respect them. Because for us, the most important thing is the client. So we need to make sure that we treat them in the right way.”
Shares of Ferrari were slightly higher Thursday morning, while shares of the U.S. “Big Three” automakers were largely lower.
