Written by Cláudio Afonso | LinkedIn | X
Ferrari said on Thursday it will update its commercial policy in response to the 25% tariff on foreign-made vehicles announced by the U.S. President on Wednesday. The sports carmaker produces all its vehicles in Italy and the U.S. sales represent about 40% of its total figures.
“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,” the company stated.
Ferrari’s highly anticipated pure electric model will be unveiled on October 9 at the company’s headquarters in Maranello, Italy. In total, the company will reveal six new vehicles in 2025.
JPMorgan analyst Ryan Brinkman lowered on Thursday the firm’s price target on the stock to $460 (from $525) noting that, while the tariffs on Canada and Mexico did not impact the company, the new 25% duty will have a high impact in the Italian carmaker.
“While Ferrari was not impacted by earlier proposed tariffs on Canada and Mexico, … Italy along with all other countries are subject to the new round of tariffs as laid out in yesterday’s executive order,” the analyst said in the new research note.
“Ferrari critically derives upward of ~40% of its global sales from the US, which also happens to be its higher margin market,” he added.
The company confirmed its financial targets for this year warning on a potential risk of 50 basis points reduction on profitability percentage margins.
JPMorgan analyst added that Ferrari purchases are “arguably amongst the most discretionary” adding the firm “could envision some buyers electing to delay taking delivery.”
Ferrari CEO Benedetto Vigna said earlier this year the Ferrari ‘elettrica‘ “has taken longer than most hoped for” but promised that “it will be built “the right way.”
Written by Cláudio Afonso | LinkedIn | X
