Ferrari's first EV Luce sells for record $40 million at auction

Ferrari's first fully electric car, the Luce, sold for $40 million at RM Sotheby's Monterey auction on Saturday, setting a record for the most expensive new car ever sold at auction. The one-off "Chassis 0" fetched roughly 36 times its $1.1 million pre-sale estimate, surpassing the previous record of $26 million set by a Ferrari Daytona SP3 in 2025 Source: CNN, The Next Web. All proceeds go to the Ferrari Foundation's educational programs Source: BBC, Fox Business.

Design backlash

The Luce, designed by Sir Jony Ive, faced criticism upon its May unveiling for its bubble-like, five-seat design, which some said strayed from Ferrari's traditional identity Source: BBC, CNN. Ferrari's shares fell over 7% after the reveal, and former chairman Luca di Montezemolo suggested the car should carry a different logo Source: The Next Web, BBC. Ferrari replaced its marketing chief a month after launch Source: The Next Web.

Auction details

The winning bidder remains unnamed and will not take delivery until the first quarter of 2027, as the car returns to Maranello for final assembly Source: Fox Business, CNN. The vehicle features a unique Madreperla Semi-Gloss paint that shifts from green to violet, bespoke wheels, and Perla Le Mans metallic leather interior Source: Gizmodo, Fox Business.

Market context

Despite the backlash, the Luce has sold out, and Ferrari's shares have recovered, rising about 27% from their post-unveiling low after strong earnings Source: The Next Web, Euronews. The $40 million sale proves collectors pay premiums for firsts, but it doesn't necessarily signal broader acceptance of electric Ferraris Source: The Next Web.