Ferrari raises prices as global backlash grows over US tariffs

By Al Mayadeen English
Source: Agencies
27 Mar 2025 23:39

Ferrari will raise prices by 10% after the US imposed a 25% tariff on car imports. In the meantime, Mercedes-Benz and Bentley are assessing the impact of the tariffs, while global powers condemned the move.

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Cargo trucks loaded with new pickups head to US at the Otay Commercial crossing in Tijuana, Baja California state, Mexico on March 27, 2025. (AFP)

Ferrari, the Italian luxury sports car manufacturer, announced on Thursday that it would increase prices by 10% following the United States’ decision to impose a 25% tariff on all car imports starting April 2.

"The commercial terms will remain unchanged for orders of all models imported before April 2, 2025, and for orders of the following three families - Ferrari 296, SF90 and Roma - regardless the import date," the statement read.

"For the current remaining models, the new import conditions will be partially reflected on pricing, up to a maximum 10 per cent increase, in coordination with our dealer network," it noted.

Mercedes-Benz, Bentley assess tariff impact

Meanwhile, German automaker Mercedes-Benz is evaluating the potential impact of the tariffs on its exports to the US.

Benedict Weiss, a spokesperson for the company, told RIA Novosti that Mercedes-Benz remains committed to constructive cooperation and fair trade regulations.

"Now we are assessing the influence of the recently declared US tariff measures... Mercedes-Benz supports free and just trade, which is the base for prosperity, growth and innovations," Weiss said.

Mercedes-Benz has been a key player in the US market since 1888, operating in 13 states and employing approximately 11,000 people, with an additional 28,000 working in its U.S. dealership network.

Similarly, UK luxury carmaker Bentley is reviewing the situation to formulate its response, company spokesman Matthew Reed told RIA Novosti.

He emphasized that open markets and stable trade relations are essential for a competitive economy and the automotive industry.

Global backlash against US tariffs

Global powers on Thursday condemned US President Donald Trump's decision to impose steep tariffs on imported vehicles and parts, warning of retaliatory measures as trade tensions escalate and price hikes loom.

Germany, a major automobile exporter, called for a strong European Union response, while Japan stated it will "consider all options."

The 25% US tariffs, set to take effect at 12:01 a.m. Washington time (0401 GMT) on April 3, will impact foreign-made cars, light trucks, and vehicle parts.

Global stock markets tumbled in response, with automakers such as Toyota, Hyundai, and Mercedes leading the decline. In New York, shares of General Motors plummeted, while Ford and Stellantis also saw losses.

French Finance Minister Eric Lombard asserted that the EU’s only viable response would be to "raise tariffs on American products."

Meanwhile, Canadian Prime Minister Mark Carney convened a meeting to discuss trade options, while Mexico's Economy Minister Marcelo Ebrard sought "preferential treatment" for his country.

However, Trump escalated his rhetoric overnight, warning on social media that Canada and the EU could face "far larger" tariffs if they collaborated "to do economic harm to the USA."