Ferrari CEO announces scenario planning to mitigate potential U.S. tariffs’ impact on European automakers.
In Short
Ferrari’s CEO announced they are preparing for potential U.S. tariffs on European automakers while monitoring trade policy impacts. Despite concerns, analysts suggest Ferrari may face less disruption due to its exclusive manufacturing in Italy.
Ferrari’s CEO, Benedetto Vigna, announced plans to prepare for possible U.S. tariffs on European automakers.
During an interview at CONVERGE LIVE in Singapore, Vigna indicated that the company is in a “scenario planning” phase to manage the potential effects, though he did not disclose specific countermeasures. He referred to U.S. President Donald Trump’s threat of tariffs, which could reach 25% for global car manufacturers.
Ferrari is monitoring developments closely, acknowledging the uncertainty that has affected European automakers due to trade policy shifts.
The imposition of tariffs could significantly disrupt the auto industry, primarily due to the industry’s extensive global supply chains and dependence on production in North America, especially Mexico. Earlier this month, tariffs for compliant auto companies were delayed until April 2 under the U.S.-Mexico-Canada Agreement.
Italian power
Analysts have suggested that Ferrari may be less affected than its European counterparts, as the company exclusively manufactures its vehicles in Italy, giving it an advantage in passing on potential price increases.
Vigna’s remarks follow a positive financial report for 2024, driven by a favourable product mix and increased demand for customised vehicles.
Ferrari is also preparing to unveil its first fully electric model in October, one of six new models set to be released this year. Year-to-date, shares of Ferrari listed on the Milan stock exchange have risen by approximately 0.5%.
