Ferrari warns of U.S. tariff risks after 17% jump in first-quarter profit
Luxury carmaker Ferrari on Tuesday reported a significant upswing in first-quarter profit, citing robust demand for personalized vehicles — but warned U.S. President Donald Trump’s trade policy could hit earnings this year.
The Maranello, Italy-based sports car manufacturer posted net profit of 412 million euros ($466.3 million) for the first three months of the year, reflecting a 17% increase from the same period last year.
Analysts had expected first-quarter net profit to come in at 410 million euros, according to Reuters poll.
“Another year is off to a great start,” Ferrari CEO Benedetto Vigna said in a statement.
“In the first quarter of 2025, with very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalizations,” Vigna said.
Looking ahead, Ferrari warned that the introduction of U.S. tariffs on EU cars imported into the U.S. could negatively impact the firm’s profitability this year.
“The [2025] guidance is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA,” the automaker said in its earnings report.
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