Ferrari CEO says carmaker is ‘prepared’ with countermeasures as Europe’s automakers brace for tariffs

The chief govt of Ferrari on Thursday mentioned the corporate was ready for potential U.S. tariffs on European automakers.

“We’re prepared with some countermeasures,” Ferrari CEO Benedetto Vigna advised CNBC’s Robert Frank at CONVERGE LIVE in Singapore on Thursday, with out offering specifics on the plan.

“You look forward to the official quantity to be printed,” he mentioned, referring to U.S. President Donald Trump’s risk of tariffs “within the neighborhood of 25%” on international carmakers.

“We’re watching what is going on to occur within the subsequent month, subsequent weeks … we’re on the identical boat by way of tariffs,” he added.

European automakers have been grappling with commerce coverage uncertainty in latest months, with the specter of U.S. import tariffs elevating alarm bells amongst many authentic tools producers (OEMs).

Tariffs are anticipated to have a profound influence on the auto business, given extremely globalized provide chains and a heavy reliance on manufacturing operations throughout North America, significantly Mexico.

Tariffs for auto corporations that presently adjust to requirements below the U.S.-Mexico-Canada Settlement, or USMCA, have been paused earlier this month till April 2.

Analysts mentioned late final 12 months that they count on Ferrari to be one thing of an exception amongst Europe’s automotive sector. The corporate, which is considered nicely positioned to move on any enhance in costs, completely produces its automobiles in Italy.

Vigna’s feedback come shortly after the posh Italian carmaker reported a important upswing in 2024 web revenue, citing a robust product combine and rising demand for private touches to its automobiles.

The corporate additionally stays on observe for the landmark unveiling of its first absolutely electrical automobile later within the 12 months, Vigna mentioned. The launch is scheduled to happen on Oct. 9 on the agency’s Maranello base in Italy.

The upcoming EV mannequin, which will probably be manufactured in Italy, is certainly one of six new fashions the corporate plans to unveil this 12 months.

Shares of the Milan-listed inventory are up round 0.5% year-to-date.