Ferrari’s inaugural electric vehicle, the Luce, commanded $40 million at a charity auction conducted by RM Sotheby’s in California, establishing a new record price for a production vehicle sold at auction. The figure represented more than 35 times the standard retail value of the model. The auction house stated that all proceeds would benefit the Ferrari Foundation’s educational initiatives.
The Luce was developed in collaboration with renowned British designer Sir Jony Ive, known for his work with Apple and iPhone technology. The vehicle’s introduction earlier this year marked Ferrari’s entry into the electric vehicle market, a sector currently led by Tesla and Chinese manufacturers. The model features five seats and battery-powered propulsion, representing a significant departure from the Italian luxury brand’s historical design language.
The launch generated considerable controversy among automotive commentators and industry figures. Critics argued the electric powertrain and expanded seating configuration departed from Ferrari’s traditional identity. Italy’s deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo publicly expressed concerns, with Montezemolo characterizing the vehicle as “risking the destruction of a legend.” The backlash contributed to a decline in Ferrari’s share price following the announcement.
Ferrari’s chief design officer Flavio Manzoni responded to criticism by framing detractors as part of the innovation process and expressed confidence that market perception would shift favorably. Despite the controversy, the company achieved its annual sales targets for the Luce, driven substantially by demand from the Chinese market. The custom vehicle sold at auction featured distinctive specifications including specialized wheels, customized braking systems, and a white exterior finish.
The sale surpassed a previous record set in 2025, when a bespoke Ferrari Daytona SP3 achieved $26 million at auction. Sotheby’s characterized the transaction as representing “innovation, responsibility, and long-term vision for future generations.”
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