Maranello: Ferrari posted a significant rise Tuesday in its quarterly profit as it warned about risks related to US tariffs that may affect its earnings in 2025. The Italian luxury carmaker reported a net profit of £412 million ($466.3 million) in the first quarter, reflecting a 17% increase from the same period last year. It cautioned that the imposition of US tariffs on EU automobile imports may harm the company's profitability.

According to Anadolu Agency, the company highlighted in its earnings report that its 2025 guidance is subject to a potential risk of a 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins). This risk is tied to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA. Ferrari's 2025 guidance anticipates adjusted profits per share of £8.6, net sales of more than £7 billion, and earnings before interest, taxes, depreciation, and amortization of at least £2.68 billion.

CEO Benedetto Vigna expressed optimism despite the looming challenges, stating, "Another year is off to a great start." He noted that in the first quarter of 2025, all key metrics recorded double-digit growth, underscoring strong profitability driven by the product mix and continued demand for personalizations, even with minimal incremental shipments year on year.

The US tariff landscape, influenced by President Donald Trump's fluctuating trade strategies, presents a disruptive challenge for luxury automakers like Ferrari. In April, Trump imposed a 25% tariff on automobile imports but later attempted to alleviate the impact by issuing an executive order aimed at preventing additional tariffs, including a 25% levy on steel and aluminum, from accumulating.

In response to these duties, Ferrari announced in late March that it would increase the price of some models by 10%, reflecting the broader industry strategy to mitigate the financial impact of the tariffs.