Ferrari’s first fully electric car, Luce. An image of a handout obtained by Reuters on May 25, 2026, after the luxury sports car maker unveiled the model.
Ferrari | via Reuters
personalized model Ferrari”The company’s first fully electric car sold for $40 million in a charity sale, defying market skepticism and setting a record for a new car sold at auction.
Sotheby’s TaylorMade Luce auction held at Monterey Car Week in California announced that the lot represented a “unique opportunity” to acquire the first production chassis of the Luce program, featuring a unique semi-gloss finish and other custom parts.
The auction house did not reveal the name of the buyer of the luxury car and said the proceeds would go to the Ferrari Educational Programs Foundation. Ferrari’s ‘Made to Order’ program is an exclusive initiative for cars customized to the buyer’s exact specifications.
The blockbuster auction comes almost three months after Ferrari unveiled its first fully electric car, which sold for 550,000 euros (about $640,000). The move marks a departure from typical Ferrari aesthetics and comes even as other sports car makers, notably Porsche and Lamborghini, have scaled back their EV launch plans due to weak demand.
Luce’s announcement provoked a negative market reaction, with analysts citing a combination of “design haters” and the classic market adage “travel and arrive” and pointing out that Ferrari’s stock price had risen significantly in advance of the launch.
Ferrari CEO Benedetto Vigna said at the time that the Maranello, Italy-based company respects the different needs and wishes of its customers, adding that existing customers will be interested in the Luce and the automaker will welcome new buyers thanks to its fully electric model.
Ferrari last month beat Wall Street’s second-quarter forecasts and raised its full-year forecast, citing stronger-than-expected demand for personalization. Milan-listed Ferrari shares have risen nearly 12% since the beginning of the year.
