Ferraris will all the time be made in Italy, says CEO

Ferrari won’t ever transfer manufacturing out of its dwelling in Maranello, Italy, firm CEO Benedetto Vigna stated on Tuesday at a convention in New York organized by Reuters.

Vigna made the remark in response to a query on whether or not Ferrari would take into account shifting manufacturing to the U.S.

“We’ll promote vehicles within the U.S., however we are going to make vehicles in Maranello,” he stated.

President-elect Donald Trump, throughout his marketing campaign, pledged to impose a tariffs on U.S. imports from all international locations. Since profitable the election, he has proposed a 25% tariff on imports from Mexico and Canada, in addition to a further 10% tariff on Chinese language items.

Benedetto Vigna

In contrast to quantity manufacturers, Ferrari occupies a priceless place the place demand for its automobiles usually exceeds provide. Its prospects are additionally typically not price-sensitive, contemplating its fashions promote for a whole bunch of hundreds of {dollars} and infrequently command steep markups.

“Our order guide is fairly sturdy,” Vigna stated on the convention. “[Trump] decides what to do [in the U.S.], we are going to address these new guidelines.”

The Biden administration earlier this 12 months launched a 100% tariff on Chinese language-made electrical automobiles, up from 25% beforehand. Some automakers impacted by the coverage embody Lotus, Polestar, and Volvo. Polestar has responded by including manufacturing of the Polestar 4 in South Korea, whereas Volvo is accelerating the addition of manufacturing for the EX30 in Belgium.