Ferrari India Price Cut Up To Rs 3.15 Crore Expected – Details

Lower prices on Ferrari cars will be applicable subject to the final implementation of the India-EU FTA

With the India-EU FTA (Free Trade Agreement), a number of items from the automotive, food, wine & spirits and luxury segments will see major price cuts. The India-EU FTA is expected to become operational later this year or in 2027. Looking to secure early gains from the FTA, Ferrari has moved quickly to offer bookings for its cars at significantly lower prices. Let’s check out the details.

Big savings on Ferrari petrol cars

As per the current tax regime, CBU units are charged an import duty of around 100-110% (basic customs duty + other levies). When the India-EU FTA comes into effect, the import duty will be initially reduced to around 30-40%. This will be applicable on cars priced above €15,000 (roughly Rs 16.83 lakh). In the following years, the import duty will be reduced further to just 10%.

Anticipating a smooth sailing of the India-EU FTA, Ferrari has started taking bookings with a significant reduction in prices of its cars. For now, the price cuts are available with only pure petrol-powered Ferrari cars. That’s because while the India-EU FTA is clear about the taxes for petrol cars, there is not enough clarity about the import duties to be applied for hybrid cars.

That’s why Ferrari’s existing hybrid cars for India such as 296 GTB, 296 GTS and 849 Testarossa are currently excluded from this new price scheme. EVs are also excluded from reduced import duties in the first five years. This is likely to protect India’s homegrown EV manufacturers. Ferrari currently does not have a BEV on sale. However, the brand’s first BEV, the Luce, is progressing fast and expected to be launched later this year.

Ferrari petrol cars – New prices

For now, buyers can benefit from the reduced prices of Ferrari’s petrol cars. With the reduced import duties, Ferrari is offering its petrol cars with around 30% reduction in prices. Ferrari Purosangue is currently available at Rs 10.50 crore. After the FTA comes into effect, the Purosangue might cost around Rs 7.35 crore, a reduction of Rs 3.15 crore (all prices Ex-sh).

Ferrari 12Cilindri Spider is currently available at Rs 9.15 crore. After the FTA is ratified, the 12Cilindri Spider price may be reduced to Rs 6.40 crore. That’s savings of Rs 2.75 crore. Similarly, the Ferrari 12Cilindri Coupe might see its price reduced from the current Rs 8.50 crore to Rs 5.95 crore, saving Rs 2.55 crore. Ferrari is also taking bookings for the upcoming Amalfi. It is estimated to cost Rs 5.59 crore. With the FTA in place, the Amalfi could cost around Rs 3.91 crore, a saving of Rs 1.68 crore (all prices Ex-sh).

Lower prices not applicable for immediate deliveries

Ferrari accepting bookings at lower prices for its petrol cars is based on the assumption that the India-EU FTA will be approved by the concerned government entities from both sides. To avoid unnecessary legal tangles, the lower prices will be applicable only for customers who take delivery after the India-EU FTA comes into effect. For buyers who take delivery before that date, the existing import duties will be applicable.

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