Whalesbook
Duty Cuts Open Doors for Ferrari in India
The steep cut in import duties, from a challenging 110% to just 30%, is set to transform India's ultra-luxury car market. Charles Antoine Geneste, Ferrari's regional head for Southeast Asia and India, called the reduction a "massive improvement," making the market far more accessible and transparent.
Dedicated India Unit Signals Growth Push
This move supports Ferrari's long-term growth plans. The company recently created a dedicated Southeast Asia and India division, with India as its central focus. Ferrari, whose cars retail from ₹3.3 crore to ₹10.3 crore (ex-showroom), anticipates high demand. Current wait times for custom orders can reach 18 months. Buyers ordering now will benefit from lower prices once the EU-India Free Trade Agreement is finalized, which is expected in the next 12 to 18 months.
India's 'Sparkling' Market and Its Buyers
Geneste shared strong optimism for India, describing the market as "sparkling." This positive view is backed by improving infrastructure, such as world-class racing tracks, which ease concerns for supercar owners. India's typical Ferrari buyer is a young entrepreneur or tech professional, often aged 35-40, with extensive international experience. Ferrari engages this group through track days and events to share the full "Ferrari DNA."
FTA Deal: A Win for European Automakers
The EU-India Free Trade Agreement is set to be finalized in January 2026, concluding negotiations that spanned two decades. While Ferrari buyers aren't only motivated by price, the enhanced accessibility is a key factor encouraging collector decisions. Coupled with India's fast-paced infrastructure growth and a favorable GST system, these elements are driving Ferrari's optimistic outlook for India.
Ferrari's Global Footprint
Globally, Ferrari sold 13,640 vehicles in 2025. Although India's sales volume is currently modest, the potential increase driven by the FTA is significant.