The Italian luxury sports car manufacturer Ferrari has announced plans to increase the prices of some cars sold in the US by 10 percent in response to Trump’s imposition of customs duties on imported cars. According to a statement from Ferrari, the company will update its commercial policy based on current preliminary information regarding the introduction of additional customs duties on cars produced in the European Union for the US market. The statement conveyed that prices of all models imported after April 2nd, in coordination with the US dealership network, will be raised by a maximum of 10 percent, while prices of all cars imported before this date will remain unchanged. It was also highlighted that regardless of the import date, the trading terms for all Ferrari’s 296, SF90, and Roma models will be the same. The statement shared that there is a potential risk of a 50-basis point decrease in profit margin percentages (a key profit indicator of pre-interest and pre-tax margins). Ferrari manufactures all its models at its Maranello facility in Northern Italy.