Ferrari ‘off to great start’
Ferrari says demand for personalised vehicles has helped drive a 17 per cent year-on-year increase in its first-quarter profit.
However, the company warns the impact of US President Donald Trump’s trade tariffs may dent earnings this year.
The luxury carmaker posted a net profit of €412 million (NZ$780m) for the first three months of this year, reports CNBC.
Its global shipments were up less than one per cent during the same period to 3,593 vehicles and net revenue increased about 13 per cent to €1.8 billion.
“Another year is off to a great start,” says Benedetto Vigna, pictured, Ferrari’s chief executive officer.
“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 personalisations.”
Looking ahead, Ferrari warns the introduction of a 25 per cent tariff on cars imported into the US may negatively impact the Italian carmaker’s profitability.
The company announced in late March it would increase prices by 10 per cent on certain models in response to the levies.
Ferrari’s current 2025 guidance includes net revenue of more than €7b and earnings before interest, taxes, depreciation, and amortisation of at least €2.7b.
