Ferrari's First EV, the Luce, Sets New Auction Record at $40M

Key points

• The first production Ferrari Luce sold for $40 million at RM Sotheby's Monterey auction, setting a new record for a new car sold at auction.
• The sale price was 35 times the standard retail price of approximately $1.1 million, with all proceeds donated to the Ferrari Foundation.
• The specific vehicle is a 'Tailor Made' one-off featuring a Madreperla Semi-Gloss white finish, Le Mans metallic leather, and Grigio Corvara interior accents.
• The Luce, designed with Jony Ive, launched in May 2026 and faced backlash from critics and former executives for its non-traditional styling and five-seat layout.
• Despite initial stock market dips and criticism, Ferrari met its annual sales target for the Luce, driven by strong demand in China.

Background

The Luce represents Ferrari's first entry into the electric vehicle market, a sector previously dominated by Tesla and Chinese manufacturers. The car was unveiled in May 2026 with high-profile guests, including Italian President Sergio Mattarella and Pope Leo. Prior to this auction, Ferrari had set a previous record for a new car sale with a bespoke Daytona SP3, which fetched $26 million in 2025. The broader context includes Ferrari's 2027 production being fully booked, with deliveries extending into 2028, and a strategic shift toward hybrid and electric models to compete in a changing global market.

How outlets are covering it

BBC and AppleInsider highlight the record-breaking nature of the sale and the charitable aspect, noting the $40 million price tag and the donation to the Ferrari Foundation. AppleInsider emphasizes the design collaboration with Jony Ive and the car's performance specs, including 1,035 horsepower and a 0-60 mph time of 2.5 seconds. Road & Track confirms the sale at the Monterey event but provides less detail on the specific vehicle's features. duPont REGISTRY News focuses on the broader auction context, mentioning the $26 million sale of a Daytona SP3 in 2025 as a previous benchmark. There is a consensus across sources that the Luce faced significant criticism upon launch for its design, with BBC and AppleInsider noting the backlash from figures like Matteo Salvini and Luca Cordero di Montezemolo, while Ferrari's design chief Flavio Manzoni defended the innovation process.

Why it matters

The $40 million sale underscores the high value placed on unique, first-of-its-kind vehicles in the luxury car market, even when they deviate from traditional brand identities. It highlights Ferrari's successful transition into the electric vehicle segment, despite initial controversy, and demonstrates the brand's ability to command premium prices for innovative models. The charitable aspect of the sale also reinforces Ferrari's commitment to educational initiatives, aligning with its broader corporate social responsibility efforts.

What to watch

The buyer of the Luce is expected to take delivery in Q1 2027, as per the auction house's statement. Ferrari is expected to continue its strategic rollout of electric and hybrid models, with the Luce's success potentially influencing future design and marketing strategies. The company may also leverage the charitable proceeds to expand its educational programs, further enhancing its brand image and community engagement.