Effective July 1, 2025, the Kenya Revenue Authority (KRA) has implemented an updated Current Retail Selling Price (CRSP) schedule for computing the customs value of used motor vehicles imported into Kenya. This schedule includes an extensive range of Ferrari vehicles, the iconic Italian marque renowned for its high-performance supercars, luxurious design, and cutting-edge technology. For Kenyan importers, collectors, and affluent enthusiasts, understanding the new CRSP values is crucial for navigating the costs of importing Ferrari models in 2025. This comprehensive article provides a detailed breakdown of the CRSP schedule for Ferrari vehicles, offering insights into pricing, trends, and their significance in Kenya’s luxury automotive market.
Understanding the CRSP and Its Importance
The Current Retail Selling Price (CRSP) is a standardized valuation metric used by the KRA to determine the customs value of imported used vehicles. This value directly impacts customs duties, Value Added Tax (VAT), excise duty, and other levies, significantly affecting the final cost for buyers. The CRSP is based on the vehicle’s market value in its country of origin, adjusted for factors such as age, condition, and specifications.
The 2025 CRSP update, effective from July 1, reflects the global demand for luxury and performance vehicles, as well as Kenya’s growing appetite for exclusive supercars among high-net-worth individuals. Ferrari, with its lineup of coupes, convertibles, and plug-in hybrids, represents the pinnacle of automotive engineering, appealing to collectors and enthusiasts in Kenya’s elite circles. The CRSP schedule affects importers, dealers, and buyers seeking prestige, performance, and exclusivity.
Key Factors Influencing Ferrari CRSP Values
- Model and Trim: High-performance models like the 488 Pista and SF90 Stradale command higher CRSPs due to advanced engineering and rarity.
- Powertrain: Gasoline V8 and V12 engines dominate, with plug-in hybrids (e.g., SF90 Stradale, 296 GTB) reflecting Ferrari’s shift toward electrification.
- Body Style: Convertibles (e.g., 488 Spider, SF90 Spider) typically have higher CRSPs than coupes due to open-top exclusivity.
- Engine Size: Larger engines (e.g., 6.5L V12 in 812 Superfast) correlate with higher CRSPs.
Ferrari’s Position in Kenya’s Luxury Automotive Market
Ferrari holds an unrivaled position in Kenya’s luxury automotive market, synonymous with prestige, performance, and exclusivity. Its models, including the 488 GTB, 812 Superfast, SF90 Stradale, and Roma, are sought after by affluent buyers, collectors, and car enthusiasts in Nairobi, Mombasa, and other urban centers. Ferrari’s blend of Italian craftsmanship, advanced aerodynamics, and hybrid technology appeals to Kenya’s growing elite, who view these vehicles as status symbols and investment pieces. The brand competes with other luxury marques like Lamborghini, McLaren, and Porsche, but its heritage and racing pedigree set it apart.
Why Ferrari Appeals to Kenyan Buyers
- Exclusivity: Limited production and bespoke customization options enhance Ferrari’s allure.
- Performance: Models like the 488 Pista (710 hp) and SF90 Stradale (986 hp) offer unmatched driving dynamics.
- Hybrid Innovation: Plug-in hybrids (e.g., SF90 Stradale, 296 GTB) align with global sustainability trends, potentially benefiting from tax incentives.
- Investment Value: Ferraris, especially limited editions like the 488 Pista Spider, often appreciate in value, attracting collectors.
Comprehensive List of Ferrari CRSP Values for 2025
Below is the complete list of Ferrari vehicles included in the KRA’s 2025 CRSP schedule, categorized by body style for clarity. Prices are in Kenyan Shillings (KES) and reflect the customs value for used vehicles. All models feature automatic transmissions (AT), rear-wheel drive (2WD), and gasoline or plug-in hybrid powertrains.
Ferrari Coupes
High-performance coupes designed for speed and style.
| Model | Chassis Code | Transmission | Drivetrain | Engine (cc) | Fuel Type | CRSP (KES) |
|---|---|---|---|---|---|---|
| 488 GTB Base Grade | ZFF79AMJ00023 | AT | 2WD | 3900 | Gasoline | 58,665,270 |
| 812 Superfast Base Grade | ZFF83CMJ00023 | AT | 2WD | 6500 | Gasoline | 70,921,056 |
| 812 Superfast Base Grade | ZFF83CMJ00024 | AT | 2WD | 6500 | Gasoline | 187,814,215 |
| 812 Superfast | ZFF83CMJ00024 | AT | 2WD | 6500 | Gasoline | 196,534,655 |
| 812 Superfast Base Grade | ZFF83CMJ00024 | AT | 2WD | 6500 | Gasoline | 202,631,589 |
| GTC4 Lusso | ABA-F151BME | AT | 2WD | 6300 | Gasoline | 135,781,588 |
| GTC4 Lusso Base Grade | ABA-F151BME | AT | 2WD | 3900 | Gasoline | 137,250,695 |
| GTC4 Lusso T | ABA-F151CME | AT | 2WD | 3900 | Gasoline | 82,299,063 |
| 488 Pista Base Grade | ZFF90HMJ00024 | AT | 2WD | 3900 | Gasoline | 117,606,403 |
| 488 Pista Base Grade | ZFF90HMJ00024 | AT | 2WD | 3900 | Gasoline | 294,016,007 |
| F8 Tributo Base Grade | F142CE | AT | 2WD | 3900 | Gasoline | 139,956,759 |
| F8 Tributo | – | AT | 2WD | 3900 | Gasoline | 140,056,369 |
| Roma Base Grade | 7BA-F164BAA | AT | 2WD | 3900 | Gasoline | 87,309,181 |
| Roma | 7BA-F164BAA | AT | 2WD | 3900 | Gasoline | 115,059,092 |
| SF90 Stradale Base Grade | 7LA-173H | AT | 2WD | 4000 | Plug-In Hybrid | 202,349,763 |
| 296 GTB Base Grade | ZFF99SMJ00030 | AT | 2WD | 3000 | Plug-In Hybrid | 83,395,533 |
| 296 GTB | ZFF99SMJ00031 | AT | 2WD | 3000 | Plug-In Hybrid | 115,541,195 |
Ferrari Convertibles
Open-top supercars for exhilarating drives.
| Model | Chassis Code | Transmission | Drivetrain | Engine (cc) | Fuel Type | CRSP (KES) |
|---|---|---|---|---|---|---|
| 488 Spider Base Grade | ZFF80AMJ00023 | AT | 2WD | 3900 | Gasoline | 53,517,716 |
| 488 Spider | ZFF80AMC00023 | AT | 2WD | 3900 | Gasoline | 169,392,520 |
| 488 Spider Base Grade | ABA-F142B | AT | 2WD | 3900 | Gasoline | 174,238,385 |
| 488 Pista Spider Base Grade | ZFF91HMJ00024 | AT | 2WD | 3900 | Gasoline | 169,571,184 |
| 488 Pista Spider Base Grade | ZFF91HMJ00024 | AT | 2WD | 3900 | Gasoline | 423,927,960 |
| Portofino Base Grade | ZFF89FPC00024 | AT | 2WD | 3900 | Gasoline | 119,323,201 |
| Portofino | ABA-F164BCA | AT | 2WD | 3900 | Gasoline | 125,338,998 |
| Portofino M Base Grade | 7BA-F164BCA | AT | 2WD | 3900 | Gasoline | 97,775,449 |
| Portofino M | 7BA-F164BCA | AT | 2WD | 3900 | Gasoline | 100,060,727 |
| F8 Spider | 7BA-F142CE | AT | 2WD | 3900 | Gasoline | 164,296,935 |
| F8 Spider Base Grade | 7BA-F142CE | AT | 2WD | 3900 | Gasoline | 141,719,757 |
| SF90 Spider | 7LA-173H | AT | 2WD | 4000 | Gasoline | 182,937,832 |
| SF90 Spider Base Grade | 7LA-173H | AT | 2WD | 4000 | Gasoline | 159,893,558 |
| SF90 Stradale | 7LA-173H | AT | 2WD | 4000 | Plug-In Hybrid | 134,740,795 |
| 296 GTS Base Grade | ZFF01SMJ00030 | AT | 2WD | 3000 | Plug-In Hybrid | 139,842,845 |
| 296 GTS | ZFF01SMJ00030 | AT | 2WD | 3000 | Plug-In Hybrid | 105,042,277 |
Key Trends in the 2025 Ferrari CRSP Schedule
1. Premium Pricing
Ferrari’s CRSP values range from KES 82,299,063 (GTC4 Lusso T) to KES 423,927,960 (488 Pista Spider Base Grade), reflecting their exclusivity and performance.
2. Plug-In Hybrid Adoption
Models like the SF90 Stradale (986 hp) and 296 GTB (819 hp) introduce plug-in hybrid technology, aligning with sustainability trends and offering potential tax incentives.
3. Convertible Premium
Convertibles like the 488 Pista Spider (KES 423,927,960) and F8 Spider (KES 164,296,935) command higher CRSPs due to their open-top appeal.
4. Performance Focus
High-performance models like the 488 Pista (710 hp) and 812 Superfast (789 hp) dominate, catering to enthusiasts seeking track-ready supercars.
Implications for Kenyan Importers and Buyers
The 2025 CRSP schedule has significant implications for Kenya’s luxury automotive market:
- Elite Appeal: Ferraris target high-net-worth individuals, collectors, and enthusiasts in Nairobi and Mombasa.
- Investment Potential: Models like the 488 Pista Spider and SF90 Stradale may appreciate, attracting investors.
- Hybrid Incentives: Plug-in hybrids (e.g., SF90 Stradale) may benefit from reduced customs duties, lowering landed costs.
- High Import Costs: CRSP values above KES 100 million for models like the 488 Pista Spider incur substantial taxes, limiting the market to ultra-wealthy buyers.
Navigating the Ferrari CRSP Schedule in Kenya
To import and own a Ferrari in Kenya, buyers and importers should follow these steps:
- Verify Chassis Codes: Confirm the chassis code (e.g., ZFF90HMJ00024 for 488 Pista) to ensure accurate CRSP valuation.
- Calculate Total Costs: Include customs duties (35% of CRSP), 16% VAT, 20% excise duty, and import declaration fees (3.5% of CRSP). Hybrids may qualify for reduced duties.
- Engage Specialists: Work with luxury car importers like Westlands Auto or Ferrari-authorized agents for compliance and servicing.
- Check Incentives: Verify potential tax exemptions for plug-in hybrids like the SF90 Stradale or 296 GTB.
- Consult Customs Experts: Engage licensed customs agents to streamline the import process and avoid valuation disputes.
Tax Calculation Example
For a Ferrari 488 Pista Spider Base Grade (CRSP: KES 423,927,960):
- Customs Duty: 35% of CRSP = KES 148,374,786
- Excise Duty: 20% of (CRSP + Customs Duty) = KES 114,460,549
- VAT: 16% of (CRSP + Customs Duty + Excise Duty) = KES 109,368,520
- Import Declaration Fee: 3.5% of CRSP = KES 14,837,479
- Total Taxes (approx.): KES 387,041,334
- Landed Cost (approx.): KES 810,969,294
Note: Plug-in hybrids like the SF90 Stradale may qualify for reduced customs duties (e.g., 10%), significantly lowering costs. Buyers should verify with the KRA.
Market Insights: Ferrari in Kenya’s Luxury Automotive Landscape
Ferrari dominates Kenya’s luxury automotive market, competing with Lamborghini, McLaren, and Porsche. Its models, such as the 812 Superfast (789 hp V12) and SF90 Stradale (986 hp hybrid), are status symbols for Kenya’s elite, often seen in upscale areas like Westlands and Karen. The 488 Pista and F8 Tributo appeal to performance enthusiasts, while the Roma and Portofino attract buyers seeking elegant grand tourers. Ferrari’s plug-in hybrids align with global sustainability trends, potentially benefiting from Kenya’s EV incentives. The brand’s exclusivity, bolstered by limited production and bespoke options, ensures strong demand among collectors.
Competitive Landscape
Ferrari competes with:
- Lamborghini Huracán/Aventador: Similar performance but bolder styling.
- McLaren 720S/Artura: Comparable hybrid tech but less heritage appeal.
- Porsche 911 Turbo S: More accessible pricing but less exclusive.
Consumer Preferences
Kenyan buyers prioritize:
- Prestige: Ferrari’s brand heritage and racing pedigree are unmatched.
- Performance: Models like the 488 Pista offer track-ready dynamics.
- Exclusivity: Limited editions like the 488 Pista Spider attract collectors.
- Sustainability: Hybrids like the SF90 Stradale appeal to eco-conscious elites.
Future Outlook for Ferrari in Kenya
The 2025 CRSP schedule positions Ferrari as the pinnacle of Kenya’s luxury automotive market. Its lineup, from the GTC4 Lusso T (KES 82,299,063) to the 488 Pista Spider (KES 423,927,960), caters to affluent buyers seeking performance and prestige. Plug-in hybrids like the SF90 Stradale and 296 GTB align with Kenya’s push for sustainable transport, potentially boosted by tax incentives and growing EV infrastructure. As Kenya’s wealth grows, Ferrari’s exclusivity and investment potential will drive demand, particularly for limited-edition models. Importers should leverage authorized dealers and customs experts to navigate high taxes and ensure compliance.
The 2025 CRSP schedule for Ferrari vehicles highlights the brand’s dominance in Kenya’s luxury market. With a lineup of high-performance coupes, convertibles, and plug-in hybrids, Ferrari offers unmatched prestige and engineering. Importers and buyers must navigate substantial taxes, leveraging hybrid incentives where applicable. As Kenya’s luxury car market expands, Ferrari’s iconic designs and cutting-edge technology ensure its allure in 2025.
