Ferrari India is expected to reduce prices of select models after the proposed India-European Union free trade agreement comes into effect. Reports suggest dealerships have begun accepting orders based on estimated lower pricing linked to the expected reduction in import duties, according to a report by Autocar India.
Under the proposed agreement, import duty on European-made cars priced above 15,000 euros is expected to reduce from the current 110 percent to around 35 percent in the first phase. The duty may reduce further to 10 percent in the following years. The agreement is expected to come into force in 2027, although final details are yet to be officially confirmed.
Ferrari Models Expected to See Price Reduction
Ferrari currently sells multiple models in India, including the 296 GTB, 296 GTS, 12Cilindri Coupe, 12Cilindri Spider, Purosangue and Amalfi.
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Reports indicate that hybrid models such as the 296 GTB and 296 GTS may not witness major price changes, while pure petrol models are expected to benefit more from the proposed tariff reductions.
The Ferrari Amalfi, which is expected to join the India line-up later this year, is reportedly being offered at an estimated price of Rs 3.91 crore under the revised calculations, down from around Rs 5.59 crore.
The 12Cilindri Coupe and Spider are also expected to become more affordable by around Rs 2.55 crore and Rs 2.75 crore respectively. The Ferrari Purosangue SUV could see the biggest reduction, with its estimated price dropping from Rs 10.50 crore to around Rs 7.35 crore.
Deliveries Linked to FTA Timeline
Dealerships are reportedly informing buyers that the revised pricing will apply only to vehicles delivered after the India-EU FTA comes into effect. Customers taking delivery before the agreement is implemented are expected to pay the current pricing. Since Ferrari vehicles typically have long delivery timelines in India, dealerships are reportedly accepting advance orders based on projected future pricing.
EV Import Duties Remain Unchanged
The proposed India-EU agreement is not expected to reduce import duties on electric vehicles during the initial years of implementation. This means Ferrari’s upcoming electric vehicle, expected to debut globally in the coming years, may continue to attract the current duty structure if introduced in India during that period.
Elctrik Speaks
The proposed reduction in import duties under the India-EU FTA could impact the pricing strategy of several premium European automotive brands operating in India. While the agreement is still under discussion, luxury carmakers appear to be preparing for a possible shift in market pricing and buyer demand once the policy is implemented.