Hormuz Crisis Hits Luxury Car Shipments, Ferrari Turns to Air Cargo
Ferrari has turned to air cargo to maintain deliveries to customers in the Middle East. According to the Financial Times, the company suspended a large portion of its shipments to the Gulf region last week due to Iran-related restrictions in the Strait of Hormuz, which prevented car carrier vessels from entering the area.
Despite this, Ferrari confirmed that some deliveries are continuing via air transport. However, air cargo costs are reported to be four to five times higher than maritime shipping.
Meanwhile, numerous luxury vehicles from Ferrari, Rolls-Royce, and Lamborghini are said to be awaiting delivery in Dubai due to shipment delays. Disruptions in the Strait of Hormuz are increasing costs and extending delivery times across the global automotive trade.
