Due to Trump Auto Tariffs... Ferrari to Raise Prices of Cars Exported to the US by Up to 10%

Italian supercar maker Ferrari announced that it will raise the prices of vehicles exported to the United States by up to 10% in response to the U.S. decision to impose a 25% tariff. Concerns had been raised in the automotive industry that vehicle prices in the U.S. could generally increase due to the Trump administration's tariff imposition, and Ferrari has fired the first shot signaling a price hike.

According to ANSA news agency on the 27th (local time), Ferrari stated in a press release that "all models exported to the U.S. after April 2 will see a price increase of up to 10%." However, orders placed before April 2 and the 296, SF90, and Roma models will not be affected by the price increase.

Ferrari plans to maintain its performance targets for this year but acknowledged that profitability could be partially impacted by the tariff measures. Ferrari explained, "There is a potential risk of a 0.5 percentage point decrease in EBIT (Earnings Before Interest and Taxes) and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margins."

Earlier, U.S. President Donald Trump announced the day before that starting May 3, a 25% tariff would be imposed on all imported cars and parts. Ferrari, known globally as a symbol of luxury sports cars, produces all its vehicles at its factory in Maranello, northern Italy. Unlike other automakers with some production bases in the U.S., Ferrari is fully exposed to the tariff backlash.

However, contrary to some concerns, Ferrari is expected to be relatively less affected by the Trump-induced tariffs. The New York Times (NYT) reported Ferrari’s price increase news, stating, "If there are consumers who can afford to pay more for cars, those are precisely Ferrari buyers."

There are also forecasts that electric vehicle manufacturer Tesla will benefit. Tesla produces all vehicles sold in the U.S. domestically, in states such as California and Texas.

Tesla CEO Elon Musk, however, posted on his social media platform X (formerly Twitter) the day before, saying, "To be clear, this measure (tariff imposition) will affect the prices of Tesla vehicle parts sourced from overseas," adding, "The cost impact is not insignificant."

The Wall Street Journal (WSJ) analyzed, "Tesla is a relatively unscathed automaker because it relies less on external parts suppliers compared to its competitors."