Luxury automaker Ferrari (RACE.MI) announced on Thursday that it will raise the prices of certain models sold in the United States to counteract the impact of newly imposed tariffs. Despite this adjustment, the company remains committed to its financial targets for the year.

The U.S. government’s decision to implement a 25% tariff on imported cars and light trucks, effective April 3, has sent shockwaves through the global auto industry, prompting concerns about price hikes and job losses in key automotive markets.

Ferrari, which manufactures all its vehicles at its Maranello plant in northern Italy, stated that prices for models imported after April 2 will increase by up to 10% in coordination with its dealer network. However, pricing for orders placed before the deadline—as well as for the 296, SF90, and Roma models—will remain unchanged, regardless of import date.

While Ferrari reaffirmed its 2025 financial targets, the company acknowledged that the tariffs could slightly impact profitability. It projected a potential 50 basis-point reduction in EBIT and EBITDA margin percentages, though it still expects to achieve its previously stated goals of at least a 29% EBIT margin and a minimum 38.3% EBITDA margin by 2025.

By adapting its pricing strategy, Ferrari aims to navigate the shifting economic landscape while maintaining its luxury market position.