It Contrasts Automaker’s Optimism
Ferrari shares fell more than 12% on Thursday, the biggest single-day drop since the automaker was first publicly listed on stock exchanges in New York and Milan in 2016, Reuters reports. Yet unlike some automakers, Ferrari is maintaining its financial guidance amid uncertainty over the Trump Administration’s tariffs.
Citi analysts cited concerns that Ferrari will be able to maintain its profitability momentum in the second half of 2025 amid slowing sales and stagnating transaction prices. In its most recent earnings call, Ferrari said it was more confident in its previous 2025 guidance—which estimates gross earning of just over $3 billion—and reported a 4% increase in net revenue in the second quarter.
Less Tariff Concern
Ferrari
Ferrari also said in the earnings call that it would remove a 10% price increase on new cars sold in the United States that’s been in place since April, following a new trade deal that sets tariffs on cars imported from the European Union at 15%, down from the 27.5% tariff previously imposed by the Trump Administration.
According to Reuters, Ferrari CEO Benedetto Vigna said in a media call that almost all cars the automaker sold in the U.S. during the second quarter were shipped before the 27.5% tariff was introduced, so the 10% price increase wasn’t applied to them. That’s the advantage of being a low-volume automaker with a backlog of orders (Vigna reportedly said Ferrari’s current order book extends into 2027).
Electrification Continues
Ferrari
Ferrari is also reportedly still on track to deliver its first all-electric car. Vigna said during the call that he had driven the first electric model, and that it would be shown to analysts in October, according to Reuters. A public debut is expected in spring 2026, with customer deliveries starting later in the year.
However, this first EV may be a unique item for a while. Ferrari was reportedly planning to unveil a second EV in late 2026, but has pushed that back to 2028 due to low enthusiasm among its customers. Similar issues have been cited by rivals Lamborghini and Maserati, with the latter completely canceling an electric version of its MC20 supercar due to the lack of takers.