Tariffs?

Decrease in the overall supply will impact existing inventory.

 

U.S. President Trump said he will impose 25% tariffs on all vehicles imported to the country from April 2, a move that will hit Ferrari more than most European manufacturers as it only produces its cars in Italy.

The Maranello, Italy-based company said it will shield customers from the brunt of U.S. tariffs by absorbing the cost of higher import duties on certain models, while passing on only some of the impact through higher pricing on others.

Ferrari said commercial terms relating to orders of all models imported into the U.S. before April 2 remain unchanged.

Canadian Prime Minister Mark Carney outlined plans to respond after President Trump announced a 25% tariff on cars made outside the U.S. Photo: Blair Gable/Reuters
Commercial terms for orders of its 296, SF90 and Roma models will remain unchanged regardless of the import date, it noted. This implies that Ferrari will cover the cost of any duties due on such models imported to the U.S. after the April 2 deadline.

For the Italian sports-car maker’s remaining models, the cost of duties will be partially added to sales prices, up to a maximum 10% increase, in coordination with its dealer network, the company said. This affects models such as the Purosangue or the 12Cilindri.

Ferrari maintained its financial targets for 2025, but warned of a potential 50 basis-point reduction to its earnings before interest and tax, and earnings before interest, tax, depreciation and amortization margins.

The company is targeting an 2025 adjusted Ebitda margin of at least 38.3% and an EBIT margin target of at least 29.0%.

The update sent Ferrari shares up about 1% in late European trade, bucking a selloff in global auto stocks. The shares were trading lower before the announcement.

Ferrari last month said it had an order book covering the entirety of 2026 fueled by order intake for its 12Cilindri models. The company has its biggest market in the U.S., which accounted for a quarter of shipments last year.

Write to Dominic Chopping at [email protected]

 

If the dealer pays the tariff - which appears how it works.
All these dealers are going to incur a 25% increase - if lifted they have inventory 25% over market.
No way is this going to fly - it would be devastating.
Vancouver banned Tesla at their auto show.

 

porsche dealers are already increasing prices of their used car inventory at some opportunistic dealers..

im hoping used ferrari prices go up but I'm not sure, the buyer of a new 296 or Roma at this point wants new...it was already very compelling to buy used given the depreciation before the tariffs and prices kept going down anyway..

 

yes but now the spread from new to use will absolutely make the used cars more valuable. Any dealer worth his salt is raising prices.

 

I don’t follow when the price on a new 296 is unchanged. There shouldn’t be any impact on used ones.

 

Non tariffed goods will become more in demand combined with a reduction in demand of tarrifed goods overall. The entire line of non tariff cars will be more valuable.

 

If that is the case you are correct. when I posted that it was prior to ferrari stating no tariff on 296s...that said, this means that ferrari will eat the 25%. Best guess, how long will they be willing to do that for? Months, weeks?

 

I think FNA, as the importer, has to pay the tariff? There is no such thing as non tariffed goods here, all the Ferraris are being tariffed, its just that Ferrari is deciding which models and how much to absorb or pass along the tariffs.

Most 296, SF90, Roma production is already in country. There will for sure be some more but not much more. Now, will the SF90 "M" (my own term) or 296 "2.0" (again, my term) be considered "SF90, 296 family" cars... who knows...

 

Does anyone know if the tarrifs affect used car sales? For example, A Canadian buying a 355 in the US to import into Canada or an American buying a used 20+ year old Ferrari in Canada to bring into the US?

 

I think 25+ years is the line at which there are no extra tariffs on the US side.

But Canada and other countries may have recently increased tariffs in response that would apply (maybe 10% for Canada)? Also if the car had been imported or sold and registered in the US before it may be exempt on the US side of that from the extra 25% (but maybe not any recip extra tariffs) but not positive. Fun times.

 

Canada for a while now is charging a 25% tariff on vehicles imported from the USA that are 25 years old or older.

 

I just got my 12 Clinidri allocation this week and my dealer said they were going to charge me 10% for the tariff on top of the regular taxes. I asked what if the tariff goes away by the time it arrives and he transparently replied that Ferrari would hold me to pay that 10% no matter what. He also shared that the more expensive cars are going to ask for the 25% tariff parentheses as if a half million car isn’t expensive. I have a 296 GTB already so I canceled the order. He totally understood and didn’t make me feel shame.

 

Ferrari told me the really expensive cars will get 25% tariff. this was after they told me I had my allocation for the 12 cylinder and it was gonna get a 10% tariff. He tried to make me feel better but the really expensive Ferraris going at 25%.

 

Tariffs for the EU will drop to 15% but it seems like Ferrari has 8.5% for 296 Speciale. I doubt they will drop that. Not sure what it is for other cars.

 

At what point does the "Ferrari Premium" become too much? Honestly, I've been waiting now for almost 3 years for my 296 GTS, registered interested in late 2022, first deposit in March 2024 and car is about to go into production. If they had told me another $50k, I think I would have bailed on the order. All this being said, it may help the values on used cars once this all settles. I'm betting we end up at 15% with the deal, but will be interesting to see what happens.

 

Thought Ferrari said no tariff on the 296?

 

That is correct, no tariff on the 296, but if there was a tariff, I think I would have bailed. Not sure about the 296 Speciale...First Ferrari for me so not under any illusion I'd get a slot for one of those.

 

Tariff on my Purosangue that just came in is ~$28k. I cant tell what they based that number off of but it is close to 6.5% of the base msrp. It is possible that all Purosangues have the same tariff charge, just need someone else to confirm.

 

that's much better than I would have predicted. What was the base price? I'm told I am locked in on the launch price, but very skeptical now that we are two years later....

 

Base is $423,600 and I was also locked at the launch price.