Some Ferrari cars to get costlier by 10% in the US, thanks to Trump's 25% auto tariffs

Ferrari said Thursday it will raise prices by 10% on certain models after April 1 in response to new US auto tariffs, the luxury carmaker said. Ferrari said it would stick largely to its financial targets for this year, according to a report in news agency Reuters. The new levies on cars and light trucks will take effect on April 3.

Ferrari announced that pricing for models imported before April 2 will remain unchanged. However, starting from that date, “new import conditions will be partially reflected in pricing,” with increases of up to 10%. This means the Maranello, Italy-based automaker will absorb part of the 25% tariff hike introduced by Trump on Wednesday.

"The commercial terms will remain unchanged for orders of all models imported before April 2, 2025, and for orders of the following three families - Ferrari 296, SF90 and Roma - regardless the import date. For the current remaining models, the new import conditions will be partially reflected on pricing, up to a maximum 10 per cent increase," the company said in a statement.


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These models to be exempted

Ferrari, which manufactures all its cars at its Maranello facility, in northern Italy, said it would increase prices, by a maximum of 10%, on all models imported after April 2, in coordination with its dealer network. Terms will be the same for all orders imported before that date and for all 296, SF90 and Roma models regardless of the import date, it added.

The company also confirmed that three models—the Ferrari 296, SF90, and Roma—will be exempt from the price increases.

Despite the tariff impact, Ferrari acknowledged the potential for a 50-basis-point reduction in profit margins. The company had set a target of 29% operating margins for the year but reaffirmed its financial outlook, projecting at least 2% growth in adjusted earnings per share alongside a minimum 5% increase in revenue.

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Ferrari's price hike comes after US President Donald Trump on Wednesday announced a 25% tariff on auto imports shaking the whole sector worldwide, as global vehicle suppliers warned of immediate price hikes and fears raise of job losses in countries with a large car industry.

Last year, Ferrari produced 13,752 cars. The company plans to launch its first all-electric Ferrari in October. On Thursday, Ferrari reaffirmed its financial targets for 2025 but acknowledged a potential risk of a 50-basis-point reduction in profitability percentage margins.

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"(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 it said it saw an EBIT margin of at least 29% in 2025 and an EBITDA margin of at least 38.3%.

The impact of the tariffs on Ferrari sales remains uncertain, as most of its vehicles already have a waiting list exceeding a year. Given their financial standing, Ferrari buyers are typically affluent enough to accommodate the price increases with ease.

(With inputs from Reuters)