Trump’s tariff threats have rattled Europe’s auto giants – but Ferrari appears remarkably undaunted.

President Elect Donald Trump On Monday, he vowed to impose hefty tariffs on China, Canada and Mexico in one of his first acts in office. threatening shaking up the auto industry’s supply chain and fueling investor concerns about higher costs.

Trump’s proposed measures include an additional 10% tariff on all Chinese goods entering the US and a 25% tariff on all goods from Canada and Mexico. is

Auto shares fell on news that it might. Key findings For American and European manufacturers, many of which have built factories and rely on auto parts suppliers located in Mexico.

The fact that Europe was not mentioned in Trump’s first tariff announcement will be welcome news to EU policymakers, although the 27-nation bloc is likely to worry that Trump’s It is only a matter of time before attention shifts to the region’s auto sector.

However, Ferrari is expected to be largely immune to the fallout.

“For Ferrari, it’s an exception where whatever the tariffs are, they’re not starting production in the U.S. Everything happens in Marnello, Italy,” Morningstar equity analyst Rila Siskin told CNBC via video call. “

“The thing with Ferrari is if it’s 10%, 20% or 30% [tariff] Then they can probably easily pass it on to consumers at a price, just looking at who they’re targeting and how expensive the cars already are.”

In an effort to raise U.S. tariffs, Trump previously promised a blanket imposition. 10% or 20% Tariffs on all goods coming into the country, affecting a wide range of important trade-dependent sectors such as autos.

For Morningstar’s Suskin, even a US tariff of up to 30% on all imports from Europe won’t deter potential customers from buying a Ferrari. “It’s funny but that’s the way it is,” he added.

A Ferrari spokesperson was not immediately available for comment when contacted by CNBC.

Ferrari has been on a tear this year, outpacing rival automakers in Europe. Shares of the Milan-listed company are up more than 34% year-to-date, significantly higher than the likes of France. Renault Or Germany Mercedes-Benz Group.

“We don’t expect Ferrari to start production in the U.S.,” Anthony Dick, an auto analyst at Audi BHF, told CNBC via email.

“For the brand, but also (and possibly more importantly) for industrial reasons, it would require the group to establish its own supply base locally, which we don’t think is possible,” he added. “, he added.

“It is not clear at this stage how the tariffs will affect demand, but one can reasonably assume that Ferrari customers are less sensitive to higher prices,” Dick said, noting that The group’s luxury car rivals will also face similar tariff treatment.

The prospect of additional US duties was likely to be a “huge obstacle” for Germany. Porschesaid Besson of Kepler Cheuvreux.

Like Ferrari, which manufactures its cars exclusively in Italy, VolkswagenPorsche has traditionally built its luxury models in Germany.

“Porsche is a little different,” said Siskin of Morningstar.

“They can move on to a 10% tariff but bigger [tariffs]like 30% can be a little more difficult to move a customer,” he continued.

“They may close their parent company Volkswagen which has some excess capacity in the US but there will be a lot of it. [capital expenditure] They will need to invest in building a Porsche-specific production line.”

Shares of Porsche are down about 26 percent year-to-date.

A Porsche spokesperson was not immediately available for comment when contacted by CNBC.