Luxury carmaker Ferrari reported a significant increase in first-quarter profits, achieving €412 million ($466.3 million), a 17% rise compared to the previous year. This growth was attributed to a strong demand for personalized vehicles despite a slight increase in shipments, which were up less than 1% to 3,593 units. Ferrari’s net revenue also rose by approximately 13% to €1.79 billion ($2.03 billion). CEO Benedetto Vigna expressed optimism about the company’s performance but cautioned that potential U.S. tariffs on EU automotive imports could negatively impact earnings this year.
Ferrari’s guidance for 2025 anticipates revenues exceeding €7 billion ($7.93 billion) and earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least €2.68 billion ($3.04 billion). However, the company highlighted a possible 50 basis points reduction in profit margins due to the new tariffs. Compared to other European automakers, which reported declines and suspended financial outlooks due to trade uncertainties, Ferrari remains relatively confident.
In response to ongoing tariff implications, Ferrari plans to raise prices on certain models by approximately 10%, potentially adding $50,000 to the price of a typical vehicle. Vigna reassured investors about the company’s commitment to navigating the current challenges effectively.
Additionally, Ferrari’s highly anticipated electric vehicle, the Elettrica, is set to be unveiled in spring 2026, with deliveries expected by October of that year. Vigna described this vehicle as a significant technological advancement for the brand, promising unique features and a remarkable design that embodies the essence of Ferrari.
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