MILAN: Ferrari does not see an immediate impact from rising costs, a spokesman for the Italian luxury sports carmaker told Reuters, as Russia's invasion of Ukraine pushes up prices of energy and raw materials.
The Ukraine crisis is driving up the price of metals used in cars, from aluminum in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, increasing pressure on the industry, already facing higher energy costs.
"We are constantly monitoring raw materials and energy prices and we are already incorporating cost inflation in our estimates and future products' prices in this still evolving situation," the spokesman said on Thursday, replying to a request for comment.
Ferrari, which produces some 10,000 cars annually and sells them to a highly selected club of super wealthy clients, can rely on strong pricing power, with its models costing upwards of €200,000 (RM923,000).
The company has said Russia was a very small market for it and that it did not see any impact on its supply chain at the moment as a consequence of Moscow's invasion of Ukraine.
