ROME (Reuters) - Italian luxury sports carmaker Ferrari said on Thursday its financial targets for this year will remain unchanged despite the new auto tariffs imposed by the United States. The U.S.
Ferrari Increases US Prices in Response to Auto Tariffs
ROME (Reuters) -Ferrari plans to increase the prices of some of its cars sold in the United States in response to new tariffs, the luxury carmaker said on Thursday, adding it would stick largely to its financial targets for this year.
The U.S. on Wednesday announced a 25% tariff on auto imports shaking the whole sector worldwide, as global vehicle suppliers warned of immediate price hikes and fears raise of job losses in countries with a large car industry.
The new levies on cars and light trucks will take effect on April 3.
Ferrari, which manufactures all its cars at its Maranello facility, in northern Italy, said it would increase prices, by a maximum of 10%, on all models imported after April 2, in coordination with its dealer network.
Terms will be the same for all orders imported before that date and for all 296, SF90 and Roma models regardless of the import date, it added.
The group confirmed financial targets for 2025 set last month adding there could be some impact on its profitability goals.
"(There is) a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins)," it said in a statement.
In February it said it saw an EBIT margin of at least 29% in 2025 and an EBITDA margin of at least 38.3%.
(Writing by Giulia Segreti and Giulio Piovaccari, editing by Alvise Armellini and Keith Weir)
