Ferrari set to get 30% cheaper in India ahead of India-EU FTA rollout

Italian sports carmaker Ferrari has reportedly slashed prices for new orders by as much as 30% amid the India-EU free trade agreement. Ferrari dealerships in India are now accepting orders at lower prices ahead of the implementation of the India-EU free trade agreement (FTA), Autocar India reported.

The India-EU FTA is expected to be ratified by the end of 2026 or early 2027. While there is still some time left for the trade agreement to come into force, Ferrari takes over half a year to deliver cars to buyers in India. The Italian carmaker’s local dealerships are reportedly taking new orders at FTA prices.

According to the report, Ferrari Purosangue’s price in India will come down from Rs 10.5 crore to an estimated Rs 7.59 crore, a price cut of Rs 2.91 crore. Likewise, the Ferrari 12Cilindri Spider is expected to see its price fall from Rs 9.15 crore to around Rs 6.38 crore, while the Coupe version could become cheaper from Rs 8.5 crore to nearly Rs 5.89 crore. Meanwhile, the Amalfi is also likely to witness a price reduction, with its expected price pegged at about Rs 4.08 crore.

The India-EU trade pact is likely to boost the luxury car market in India as tariffs on cars will gradually go down from 110% to 30% in the first year and to 10% by the fifth year.

The FTA will cut prices of large engine size ICE vehicles and expensive EVs while protecting sensitive segments of India’s automotive industry (small size engine capacity ICE vehicles and mid- and low-price range EVs).

Under the proposed framework, internal-combustion engine (ICE) vehicles with a cost, insurance and freight (CIF) value ranging from €15,000 to €35,000 will be eligible for a quota of 34,000 units in the first year. Import duties on these vehicles are set to decline from the current 110% to 35% during the initial year. For ICE vehicles priced between €35,000 and €50,000, as well as those valued above €50,000, tariffs will be cut to 30% in the first year. The €35,000–€50,000 category will have an annual quota of 33,000 vehicles, while models priced above €50,000 will fall under a separate quota of 34,000 units in the first year.

Taken together, the overall quota for ICE vehicle imports will begin at 100,000 units in the first year after the FTA takes effect, before gradually rising to 160,000 units by the tenth year.