Ferrari hopes to restart business in China using an electric car

Maranello Benedetto, the general director of the company, said that one of the new products of Ferrari 2025 is suitable for Big China and “improve the picture” in this market. According to Bloomberg, we are talking about the first electric car, which will begin to be declassified in October. The “battery” Ferrari can become a new sales driver and contribute to the restart of the business in the PRC.

Demand for Ferrari cars in China stagnates, and the first quarter of 2025 was completely worse in four years: sales were sank by 25 percent. In 2024, the share of luxury models in the Middle Kingdom was generally reduced by 20% due to economic decline and weakening of consumer interest. Now only ten percent of all released Ferrari is delivered to China, but the proportions can be revised with an electric car.

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Partly the decline in the interest of the Chinese in Ferrari is explained by tax rates. For machines with a V12 engine, a working volume of more than 4.0 liters needs to pay 15% an import duty, 40% of consumption tax and VAT at least 13%. Thus, overpayment for Ferrari Purosangue or 12CILINDRI becomes colossal. The electric car from Maranello will be much cheaper, because the PRC will have to pay about four times less to the budget.

Ferrari is interested in rebooting the Chinese office because problems are planned in the US key market. Due to Trump’s duties, some models have already significantly risen in price. However, in China, the Ferrari electric car will have to compete with the whole range of local premium models.

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