Ferrari is about to make its pure petrol cars a lot cheaper in India. Dealers are already taking bookings at prices up to 30 percent lower than before. Why? The India-EU Free Trade Agreement is coming, and it’s set to slash import duties on fully built cars. Right now, you pay 110 percent duty. Soon, that could drop to 30 or 40 percent for cars over 15,000 Euros. Since it takes more than six months to get one of these cars delivered, dealers are locking in orders based on these expected lower tariffs. If you’re thinking about buying, now’s probably the time to get in line.
Key Takeaways
- Ferrari dealerships in India are offering booking options with an estimated 30 percent price drop on selected luxury models.
- The price drop applies exclusively to pure petrol models including the Purosangue, 12Cilindri Coupe, 12Cilindri Spider, and the upcoming Amalfi.
- Import duties will decrease from 110 percent to an initial 30 or 40 percent range under the India-EU trade agreement, eventually reaching 10 percent.
- Hybrid variants and electric vehicles remain excluded from this current promotional pricing scheme due to ongoing regulatory discussions.
These lower duties make a big difference to the sticker price. Take the Purosangue. Right now, it’s Rs 10.50 crore. With the new rates, you’re looking at about Rs 7.35 crore. That’s Rs 3.15 crore saved. The 12Cilindri Spider drops from Rs 9.15 crore to Rs 6.40 crore. The 12Cilindri Coupe goes from Rs 8.50 crore to Rs 5.95 crore. Even the new Amalfi grand tourer is being booked at Rs 3.91 crore, down from Rs 5.59 crore. Not small change, especially if you’ve been waiting for a deal.
Hybrid supercars like the 296 GTB, 296 GTS, and 849 Testarossa aren’t part of this deal. The trade agreement doesn’t spell out tariff breaks for hybrids yet. Same goes for electric cars. India’s keeping regular tariffs on those for at least five years to protect local EV makers.
The final retail prices will depend entirely on the official enforcement date of the trade agreement and foreign exchange fluctuations between the Euro and the Indian Rupee. Buyers who receive vehicle deliveries before the official enforcement of the trade agreement will have to pay the original tax rates.
FAQs
Q1. Why are Ferrari prices expected to drop in India?
A1. Prices are dropping because the India-EU Free Trade Agreement will reduce import duties on completely built premium vehicles from 110 percent down to an initial 30 or 40 percent.
Q2. Which Ferrari models qualify for the lower booking prices?
A2. The lower prices apply only to pure petrol models, which include the Purosangue SUV, 12Cilindri Coupe, 12Cilindri Spider, and the Amalfi grand tourer.
Q3. Are hybrid Ferrari models included in this price reduction?
A3. No, hybrid models like the 296 GTB and 849 Testarossa are excluded because the trade agreement does not provide clear import tariff rules for hybrid vehicles yet.
Q4. What is the expected price drop for the Ferrari Purosangue in India?
A4. The price of the Ferrari Purosangue is expected to drop by Rs 3.15 crore, bringing its cost down from Rs 10.50 crore to an estimated Rs 7.35 crore.
Q5. What happens if a buyer takes delivery before the trade agreement begins?
A5. Buyers who take delivery of their vehicles before the trade agreement comes into effect will have to pay the current higher prices under the 110 percent duty structure.
