Ferrari's Luce hits a $40m sale at Monterey, redefining new-car auctions

Ferrari’s first fully electric model, the Luce designed by Jony Ive, sold for $40 million at Sotheby’s during Monterey Car Week, a new-car auction record that far surpassed its roughly $1.1 million presale estimate; the one-off car benefits the Ferrari Foundation, and despite controversy over its design and a leadership shake-up, Ferrari is pursuing strong Luce uptake with an eye on around 500 units this year and a solid 2026 target.