Ferrari says to raise prices on some models to U.S., up to 10%

In this Wednesday, Aug. 1, 2018 file photo, the logo for Ferrari is displayed above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, file)

Italian carmaker Ferrari said Thursday it would increase its prices on many models sold to the U.S. by up to 10 per cent from next week following Donald Trump’s announcement of steep tariffs.

The 25-per cent U.S. duties announced by the president take effect starting 12:01am eastern time (0401 GMT) April 3 and impact foreign-made cars, light trucks and vehicle parts.

Ferrari announced it would “update its commercial policy, based on the preliminary information currently available regarding the introduction of import tariffs on EU cars into the USA”.

“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,” it said in a statement.

“For the current remaining models, the new import conditions will be partially reflected on pricing, up to a maximum 10 per cent increase.”

The models exempt are the 296 and SF90 hybrid families, and the Roma model which was phased out last year.

The company said it “confirms its financial targets for 2025” but warned of “a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins)”.

In 2024, revenues generated in the US represented approximately 29 percent of the total, some 1.65 billion euros.

The same year, Ferrari delivered 3,452 cars to the US, or 25% of its total shipments.