On April 6, 2025, the Ferrari brand logo, with lettering badges, badges with letters and a rising horse (Cavalino Lancante) can be seen on the wheels of the sports car manufacturer in Munich (Bavaria).
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Luxury automaker Ferrari Tuesday reported a sharp rise in profits in the first quarter, citing a strong demand for personalized vehicles, but warned that U.S. President Donald Trump's trade policy could hit profits this year.
The Italian-based Maranello released a net profit of 412 million euros ($466.3 million) in the first three months of the year, reflecting a 17% increase in the same period last year.
Analysts expect net profit in the first quarter to be 410 million euros, according to a Reuters poll.
"There's another year to start," Ferrari CEO Benedetto Vigna said in a statement.
“In the first quarter of 2025, there were few incremental goods in the year, and all major indicators recorded double-digit growth, highlighting the strong profitability driven by our product portfolio and ongoing demand for personalization,” Vigna said.
Looking ahead, Ferrari warned that tariffs imposed on EU cars imported from the United States could have a negative impact on the company's profitability this year.
"The (2025) guidelines are subject to potential risks of reducing profit margins (EBIT and EBITDA margins), which is related to the updates to the import tariffs on EU cars to the EU involve updates in U.S. business policies," the automaker said in its revenue report.
Luxury automakers are fighting for the destructive effects of Trump's round-trip trade tariff policy. Several European auto giants reported a sharp decline in quarterly profits during this earnings season, with many suspending or cutting financial guidance as Trump’s tariffs caused losses.
The president imported 25% of cars from the United States in early April. But Trump sought to water those taxes last week, but signed an executive order to prevent other separate responsibilities, such as the 25% tariff on steel and aluminum, from "stacking" between each other.
Ferrari said in late March that the price of responding to tariffs on certain models would increase by 10%. The move will be as high as $50,000 than the typical Ferrari.
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