Ferrari chairman Sergio Marchionne hopes the Italian automaker would be exempt from President Donald Trump’s idea to impose a 20 percent border tax on goods not made in the U.S.
Ferrari builds its cars in one factory in Maranello, Italy and produces just 9,000 vehicles a year. Due to the automaker’s extremely low volume, Marchionne told Bloomberg that the company’s vehicles should be exempt from any tax on imported goods imposed by President Trump.
“There’s a small volume manufacturer exception that exists in all jurisdictions,” Marchionne said at this week’s 2017 Geneva Motor Show. “I sincerely hope they would exempt these cars from that treatment. We’re not trying to invade the states with a lot of cars.”
The Italian-Canadian executive said it may be possible for extremely low volume cars, such as the recently launched 812 Superfast and 488 GTB, to be exempt from the tax while its larger volume models like the California T and GTC4Lusso would be subject to it. Such a scenario would drive the price up of those cars exponentially, he said, and make them even more unobtainable.
Hear what else Marchionne had to say on the matter in the video embedded below.