ultimateimp – Ferrari CEO Benedetto Vigna confirmed that the luxury automaker is actively preparing for possible U.S. tariffs on European car manufacturers. Speaking at CONVERGE LIVE in Singapore, Vigna emphasized that Ferrari is taking proactive steps to manage any potential impact.
Vigna stated that the company has prepared countermeasures and is actively conducting scenario planning to anticipate various outcomes. However, he refrained from detailing specific actions Ferrari might take.
The discussion follows U.S. President Donald Trump’s warning of imposing tariffs “in the neighborhood of 25%” on global automakers. Vigna acknowledged the uncertainty surrounding the situation, noting that Ferrari is closely monitoring developments.
“We are watching what’s going to happen in the next month, next weeks … we are on the same boat in terms of tariffs,” he said. Until officials announce new policies, Ferrari actively adapts its strategies to safeguard its market position and maintain customer loyalty.
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European Automakers Brace for U.S. Tariff Uncertainty
European automakers are facing growing concerns over potential U.S. import tariffs, which could disrupt global supply chains and manufacturing operations. Many original equipment manufacturers (OEMs) are preparing for the impact as trade policy uncertainty continues to create instability in the industry.
The globalized nature of auto production means that tariffs could significantly affect costs, particularly for companies with manufacturing operations in North America, especially Mexico. The U.S. temporarily paused tariff enforcement earlier this month until April 2 for automakers complying with the U.S.-Mexico-Canada Agreement (USMCA).
Despite this delay, manufacturers remain on high alert, assessing possible adjustments to production, pricing, and logistics. Industry leaders are closely monitoring policy developments to determine the best course of action for mitigating risks and maintaining market stability in the face of potential new trade restrictions.
Ferrari Stays Resilient Amid Industry Challenges, Prepares for First EV Launch
Analysts predict Ferrari will successfully absorb potential cost increases from tariffs, keeping the company an outlier in Europe’s automotive sector. With all production centered in Italy, Ferrari has the advantage of maintaining control over its pricing strategy. Allowing it to pass on additional costs without significantly affecting demand.
CEO Benedetto Vigna’s recent comments follow Ferrari’s strong financial performance in 2024. The company reporting higher net profits due to a favorable product mix and increasing demand for customization options. The brand continues to attract high-net-worth customers, further reinforcing its ability to navigate economic fluctuations.
Ferrari is also preparing for a historic milestone with the launch of its first fully electric vehicle (EV) on October 9. The highly anticipated model, set to be manufactured in Maranello, is one of six new vehicles Ferrari plans to unveil this year. As excitement builds, Ferrari’s Milan-listed stock has shown steady performance, rising approximately 0.5% year-to-date.
