Ferrari to raise prices by up to 10% on some models due to US tariffs

By Mucahithan Avcioglu

ISTANBUL (AA) - Italian luxury sports car manufacturer Ferrari announced plans Thursday to increase the prices of some of its cars sold in the US by up to 10% due to recently announced tariffs.

The company will update its commercial policy based on information currently available regarding the introduction of additional tariffs in the US on cars produced in the European Union.

In coordination with the dealer network in the US, the prices of all models imported after April 2 will be increased by a maximum of 10%.

On the other hand, prices of vehicles imported before April 2 will stay the same.

It was also emphasized that the commercial terms will be the same for all of Ferrari's 296, SF90 and Roma models, regardless of the import date.

"On such basis, Ferrari confirms its financial targets for 2025, with a potential risk of 50 basis points reduction on profitability percentage margins," it said.

The US on Wednesday announced 25% tariffs on auto imports.

The new tariffs on cars and light trucks will take effect on April 3.

Ferrari's vehicles are subject to the US tariffs as the company produces all its models at its Maranello plant in northern Italy.