Ferrari Hikes Prices Up To 10% Due To U.S. Tariffs

Ferrari has announced that it will increase the prices of certain car models by up to 10% starting April 1, in response to new U.S. tariffs on imported vehicles. The price hike will affect some of the company's most popular models, including the Purosangue SUV, 12Cilindri, and F80. The price increase is expected to add up to $50,000 to the cost of an average Ferrari.

The Italian sports car manufacturer, based in Maranello, stated that all cars imported before April 2 will remain at their current prices. However, the commercial terms for its three model series—Ferrari 296, SF90, and Roma—will remain unchanged. The price increase will be most significant for the Purosangue, which starts at around $430,000, and the limited-edition F80, which starts at over $3.5 million. The price hike for the Purosangue will be approximately $43,000, while the F80 will see an increase of over $350,000.

The tariffs, announced by former U.S. President Donald Trump, impose a 25% tax on all non-U.S.-made vehicles. Ferrari, which produces all its cars at its Maranello factory, manufactured 13,752 vehicles last year. The company plans to launch its first fully electric Ferrari in October. It is unclear how the tariffs will impact Ferrari's sales, as many of its models already have waiting lists of over a year. Ferrari's customers are typically wealthy and can easily afford the price increase.

Ferrari also confirmed its financial targets for 2025 but noted a potential 50 basis point risk to its profit margins. In an interview this month, Ferrari CEO Benedetto Vigna stated that while Ferrari's customers are wealthy, the company must be mindful of not passing on too much of the tariff cost to them. "When we look at our customers, we consider that these people who buy Ferraris have earned their wealth through hard work," he said. "We must respect them. Because for us, the most important thing is the customer. So we need to make sure we treat them the right way."