Ferrari taking orders at 30 percent lower prices anticipating India EU FTA

Our sources have revealed that Ferrari dealerships across the country have begun accepting orders at 30 percent lower prices in anticipation of the upcoming India-EU free trade agreement (FTA). Under the terms of this FTA, import duties on European-made cars priced above 15,000 euros (approximately Rs 16.82 lakh) will be cut from 110 percent to about 35 percent in the first year and to 10 percent in subsequent years.

1. Ferrari buyers taking delivery before India-EU FTA finalisation will pay old prices
2. Purosangue SUV’s price is estimated to drop by over Rs 3 crore
3. 12Cilindri line-up to get up to Rs 2.75 crore more affordable

Reduced prices for Ferrari Purosangue, 12Cilindri, Amalfi orders in India

While the India-EU agreement is expected to go into effect in 2027, Ferrari deliveries take upwards of six months for Indian buyers, which means the Italian marque’s dealers can now take orders with the FTA’s projected price drops. However, these reduced prices will not be extended to buyers taking delivery of their car before the India-EU FTA comes into effect.

At the time of writing, Ferrari retails six models in India, namely the 296 GTB, 296 GTS, 12Cilindri Coupe, 12Cilindri Spider, 849 Testarossa and Purosangue. The Amalfi will join the India line-up later this year, but Ferrari is already accepting bookings for the grand-tourer at an indicated price of Rs 5.59 crore.

Since the status of import tariff cuts on hybrid cars is currently unclear under the India-EU FTA, only the pure-petrol Ferrari models – Purosangue, 12Cilindri Coupe, 12Cilindri Spider, and the Amalfi – can be ordered at reduced prices as of now, specifically 30 percent off their current ex-showroom figures.

That means the Purosangue’s India price goes down from Rs 10.5 crore to an estimated Rs 7.35 crore – a staggering Rs 3.15 crore reduction. Similarly, the 12Cilindri Spider’s price is expected to be lowered from Rs 9.15 crore to Rs 6.4 crore while that of the Coupe will likely reduce from Rs 8.5 crore to Rs 5.95 crore. Lastly, the Amalfi price is anticipated to drop to Rs 3.91 crore.

Ultimately, these are estimates, and final pricing will depend on the final details of the India-EU FTA and will vary based on EUR-INR forex movement. To that end, those who place an order for a pure-petrol Ferrari will have their cars delivered only after the India-EU FTA details are clear. Still, Ferrari is better positioned to take advantage of the India-EU FTA's tariff cuts than its closest rival, Lamborghini, which no longer sells any pure-petrol cars.

It's also worth noting that the India-EU FTA does not allow for reductions in EV import duties for the first five years, so Ferrari's upcoming debut EV, the Luce, will be subject to the full breadth of import duties if it's launched here within that window.

With inputs from Mugdha Mishra

All prices are ex-showroom, India.