Prospective buyers of Ferrari vehicles may soon find themselves having to fork out more money. The popular Italian luxury car manufacturer has announced that their prices will see an increase of up to 10% due to the new tariffs introduced by President Donald Trump.

This price adjustment will impact all Ferrari models with the exception of the 296, SF90, and Roma. However, vehicles imported prior to April 2 will not be subjected to the tariff hike. The cost of any Ferrari models brought into the US after this date is set to rise significantly, potentially adding tens of thousands of dollars to the price tag.

The Maranello-based carmaker expressed concerns that the tariffs may impact their profits. Despite this, Ferrari affirmed its financial objectives for 2025, though acknowledging there is a possibility of a slight reduction in profitability margin due to these new tariffs.

President Trump's recent order enforcing a 25% tariff on auto imports not manufactured in the US has caused uncertainty within the automotive industry. Analysts anticipate that these tariffs could raise car prices by $5,000 to $10,000. While many auto stocks plummeted following the news, Tesla experienced a 4% surge, as its US-made vehicles could benefit from the domestic production setting.

Ferrari's stock saw a modest increase of 3.2% following the tariff announcement. The introduction of the auto tariffs adds to the existing trade tensions over duties on imports like steel and aluminum from countries such as Canada, Mexico, and China. President Trump hopes the new tariffs will encourage foreign-owned auto companies to invest in manufacturing plants in the US to avoid import costs, potentially boosting domestic production.