The manufacturing line employees on the new Ferrari NV digital development manufacturing unit in Maranello, Italy, on Friday, June 21, 2024.
Francesca Volpi | Bloomberg | Ghetto pictures
CEO Ferrari On Thursday, he mentioned the corporate was ready for potential US tariffs for European automotive producers.
“We’re prepared with some counteractions,” Ferrari Benedetto Vigna CEO advised Robert Frank at CNBC at Converge Dwell in Singapore on Thursday.
“We’re in a state of affairs planning part to handle what is going to occur greatest,” Vinja mentioned, with out offering particulars of what these steps will be.
“You look ahead to the official quantity to be revealed,” he mentioned, citing the specter of US President Donald Trump of Tariffs “In the neighborhood by 25%” To international automotive producers.
“We’re watching what is going to occur subsequent month, within the coming weeks … We’re on the identical boat when it comes to tariffs,” Vina mentioned.
European automakers have been Dealing with the uncertainty of trade policy In current months, the specter of US import tariffs, which elevate alarm bells amongst many authentic tools producers (OEM producers).
Tariffs are anticipated to have a deep impression on the automotive business, taking into consideration extremely globalized provide chains and a powerful studying of manufacturing operations in North America, particularly Mexico.
Tariffs for automotive corporations which are at the moment complying with the requirements below the US-Mexico-Canada settlement, or USMCA, have been Pause earlier this month to April 2S
Analysts said On the finish of final yr, they anticipate Ferrari to be one thing exception to the automotive sector in Europe. The corporate, which is regarded as effectively positioned to go to any worth enhance, produces its vehicles in Italy.
Vin’s feedback come shortly after the posh Italian carmaker reported a significant uplift in 2024 Net profitQuoting a powerful product combine and a rising seek for private touches to its automobiles.
The corporate additionally stays on its method to exceptional its first fully electrical automotive later throughout the yr, Vina mentioned. The launch is scheduled to be held on October 9 on the Manelo base of the corporate in Italy.
The upcoming EV mannequin, which might be manufactured in Italy, is among the six new fashions that the corporate plans to open this yr.
The shares of the shares listed in Milan are about 0.5% per yr.
Rationalization: The article has been up to date to make clear that Ferrari is making a script, planning to oppose the impression of potential US tariffs.
