Hamilton says tough start at Ferrari could go on for months
Lewis Hamilton said on Thursday it could take months to get to grips with his new Ferrari and he was paying no attention to those questioning his performances.
Italian luxury carmaker Ferrari posted a strong 17% year-on-year increase in net profit for the first quarter of 2025, but warned that U.S. import tariffs could pose a threat to its earnings outlook for the year ahead.
The company reported a net profit of €412 million ($466.3 million) for Q1, citing robust demand and increased vehicle personalization as key drivers of growth. Despite limited growth in shipments, Ferrari said all major financial metrics saw double-digit improvements.
“Another year is off to a great start,” said CEO Benedetto Vigna. “With very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring strong profitability driven by our product mix and continued demand for personalizations.”
However, the upbeat earnings were tempered by caution surrounding U.S. trade policy. In its earnings statement, Ferrari flagged the risk of a 50 basis-point reduction in its EBIT and EBITDA margins if new U.S. tariffs on EU automobile imports take full effect.
“The (2025) guidance is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA,” the company stated.
President Donald Trump’s shifting tariff policies have disrupted global automakers, especially luxury brands reliant on transatlantic trade. In April, Trump imposed a 25% tariff on European automobile imports, prompting Ferrari in late March to raise prices on some models by 10% in an effort to offset the added costs.
While Trump issued a partial rollback of certain overlapping duties—including extra tariffs on steel and aluminum—analysts say the core automobile import tariff remains in effect, posing a continuing risk to European carmakers.
Ferrari’s 2025 financial guidance projects adjusted earnings per share of €8.6, net sales exceeding €7 billion, and EBITDA of at least €2.68 billion. The company’s ability to maintain that trajectory, however, may hinge on the evolving U.S.-EU trade environment.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
Iranian Deputy Foreign Minister Abbas Araghchi says there is no ceasefire agreement with Israel, directly rejecting U.S. President Donald Trump’s earlier claim of a truce between the two countries.
Three powerful explosions were reported early Tuesday at Al-Taji military base, about 30 kilometers north of Baghdad.
Three explosions were heard in Tehran early Tuesday, shortly after the Israeli army issued an evacuation alert for the city’s Seventh District, warning of possible strikes..
U.S. President Donald Trump says Iran and Israel have agreed to a complete ceasefire that will end the 12-day war between the two countries.
UK Prime Minister Keir Starmer and Ukrainian President Volodymyr Zelenskyy met in London on Monday and signed a new agreement aimed at increasing Ukraine’s production of unmanned aerial vehicles (UAVs).
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