Ferrari’s first fully electric car has fetched $40 million, approximately ₹382.44 crore, at a charity auction, setting a new record for the most expensive new car ever sold at auction despite criticism surrounding the model.
The “tailor-made” Luce was auctioned by Sotheby’s during Monterey Car Week in California over the weekend. Ferrari said the sale surpassed the previous record set in 2025, when a customised Daytona SP3 was sold for $26 million. The identity of the buyer has not been disclosed.
Ferrari’s first EV faces criticism
unveiled the Luce in May with a starting price of €550,000 ($636,356). The launch was met with criticism from some enthusiasts and coincided with a decline in the luxury carmaker’s share price, as the electric model represents a significant departure from Ferrari’s traditional combustion-engine sports cars.
Ferrari shares gained as much as 1.4% in Milan on Monday. The stock had risen 13% so far this year through Friday, helped by demand for high-priced models including the $3.6 million F80 hybrid.
Luce sales figures remain undisclosed
sales figures for the Luce. Its sleek, rounded design also differs from the more aggressive and muscular styling traditionally associated with the brand.
The company is expected to sell its first batch of several hundred Luce vehicles, with its strategy of limiting supply and giving loyal customers priority access to new models likely to support demand.
How the electric Ferrari performs in the second-hand market could ultimately provide an important indication of whether the model maintains its appeal among buyers.
What are ‘tailor made’ Ferraris?
“Tailor made” Ferraris are unique vehicles built and customised according to an individual customer’s specific requirements.
The model was designed with LoveFrom, the studio founded by Jony Ive, Apple Inc.’s former design chief and a key figure behind the iPhone and iMac. The car combines more than 1,000 horsepower with four doors.
Ferrari’s Chief Executive Officer Benedetto Vigna said in May that the model was getting orders from old and new customers.
“The Ferrari Luce has nothing to do with electric cars you have seen from other players,” he said at the time. “You have to see it and drive it to understand that it wasn’t copied — not the interiors, not the exterior, not the performance.”
Ferrari raised its full-year guidance late last month, citing demand for limited-run models like the F80 and a more expensive version of its Purosangue four-seater.
(With inputs from news agency Bloomberg)
