Ferrari CEO Louis Camilleri has stated that the iconic Italian carmaker is “ready” with countermeasures as Europe’s automakers brace for potential tariffs on imported vehicles.
The European Union is currently locked in a trade dispute with the United States over tariffs on steel and aluminum, with President Donald Trump threatening to impose tariffs on imported cars and parts as well. This has left many European automakers, including Ferrari, on edge as they fear the financial impact of such measures.
In an interview with CNBC, Camilleri stated that Ferrari has been preparing for the possibility of tariffs for some time now. He mentioned that the company has diversified its production and supply chain to mitigate the potential impact of any tariffs imposed on imported vehicles.
“We have been ready for some time,” Camilleri said. “We have a strong brand, we have a strong product and we have a very powerful network of dealers.”
Ferrari is known for its high-performance luxury sports cars, which are sought after by car enthusiasts around the world. The company’s strong brand and loyal customer base have helped it weather economic uncertainties in the past, and Camilleri is confident that Ferrari will be able to navigate any challenges posed by tariffs.
Despite the potential threat of tariffs, Camilleri remains optimistic about Ferrari’s future. He pointed to the company’s strong financial performance and growing demand for its vehicles as evidence of its resilience in the face of economic uncertainties.
“We have a very strong order book,” Camilleri said. “We have a very strong pipeline of new products. So, we are in very good shape.”
While Europe’s automakers may be bracing for potential tariffs, Ferrari’s CEO seems to be taking a more proactive approach. By diversifying its production and supply chain, the company is positioning itself to weather any potential challenges posed by tariffs on imported vehicles.
As the trade dispute between the EU and the US continues to unfold, it remains to be seen how it will impact the automotive industry. However, with Ferrari’s readiness and resilience, the company seems well-prepared to face whatever challenges may come its way.