Ferrari sales in the UK hit hard by a new tax rule, scaring off the big money

It's an unexpected consequence of British tax reform: the flight of the wealthy is beginning to be felt... even in the figures for Ferrari. According to our information, registrations of the brand with the prancing horse fell by 27 % between January and August 2025 in the UK, compared with the same period last year. A spectacular and unprecedented decline for a market that has historically been strong for the Maranello-based company, which is not due to a simple economic slowdown, but to a political decision.

End of preferential tax regime for non-domiciles: the rich leave London

As reported in the Financial Times, the tax reform that came into force in April put an end to the privileged status of "non-domiciled residents". This status allowed many wealthy foreigners living in the UK to avoid being taxed on their income generated abroad.

These residents, often owners of supercar collections, were among the best clients of Ferrari and other luxury brands. But with the disappearance of this regime, some of them preferred to pack their bags and head for more tax-efficient destinations such as Monaco, Dubai or Switzerland.

Ferrari CEO Benedetto Vigna confirmed this in an interview with the British business daily :

"Some customers are leaving the country for tax reasons. We have therefore reduced our allocations of cars for the UK market in order to stabilize the local situation."

Ferrari adjusts its strategy: preserving value before volume

Ferrari has decided to significantly reduce deliveries to the UK, a rare move for the brand. This decision is aimed at avoiding a depreciation of its models on the second-hand market. According to Auto Trader, the resale price of certain recent models, such as the Purosangue and the SF90 Stradale, has already fallen by 12.2 % and 6.6 % respectively since January, before stabilizing slightly in recent weeks.

For Ferrari, whose strategy is based on rarity and the preservation of residual values, this is a delicate situation. Too rapid a drop in value could damage the brand's perception of exclusivity, an essential pillar of its image.

Sales under pressure despite high margins

Even so, Ferrari remains one of the world's most profitable manufacturers, with an operating margin of around 30 %. But caution prevails in Maranello: the Ferrari share has lost nearly 17 % in recent weeks on the stock market, as investors worry about stable profitability in the medium term.

This crisis highlights an unexpected collateral effect of British tax policies. By attacking the advantages of the ultra-rich, the government has provoked a domino effect: the departure of the wealthy, a drop in luxury car sales, and a fall in second-hand values.