Ferrari CEO Commits to Italy-Only Production Despite Tariffs

Ferrari CEO Benedetto Vigna confirmed the brand will continue to producing luxury sports cars exclusively in Maranello, Italy, regardless of potential tariff changes in international markets. Speaking at the Reuters NEXT conference in New York, Vigna emphasized Ferrari’s manufacturing strategy as integral to its brand identity.

“We will sell cars in the United States, but we will make cars in Maranello,” Vigna stated when asked about the possibility of US-based production. This stance persists despite recent and proposed tariff policies affecting European-made goods, including those introduced during the Biden administration and potential changes under President-elect Donald Trump.

The Biden administration recently increased tariffs on Chinese-made electric vehicles to 100%, prompting automakers such as Polestar and Volvo to diversify their production locations. In contrast, Ferrari’s position is fortified by its unique market segment, where demand consistently outpaces supply, and its clientele remains less price-sensitive due to the high-value nature of its vehicles.

"Our order book is pretty strong. When you have the realities changing around you, it is a way to foster more and more innovation,” Vigna noted. 

Looking ahead, Ferrari plans to launch its first fully electric vehicle in the Q425. While the anticipated price is rumored to exceed €500,000 (US$526,000), Vigna suggested the final price would reflect the emotional value the car delivers to customers. “It depends on the emotion that we are able to transmit with the car,” he explained.

Ferrari has also embraced cryptocurrency as a payment option in select markets, including the United States and parts of Europe. However, the company remains cautious about direct investment in digital currencies. 

“We do not invest in crypto. We do not want to get crypto and speculate—it is a way to make purchases seamless,” Vigna clarified.

Ferrari announced a multi-year agreement to supply engines and gearboxes to the Cadillac Formula One team starting in 2026. “We are very proud of this selection. In our DNA is racing. We have been present in this sport, which is now becoming entertainment, since the beginning,” said Vigna.