Ferrari’s electric car Luce sells for $40 million at charity auction

Ferrari's inaugural electric vehicle, the 'Tailor Made' Luce, fetched a staggering $40 million at a charity auction, held during the Monterey Car Week, a few months after its debut. The sale, touted as an "unrepeatable opportunity" to obtain the first production chassis of the Luce program, was conducted by RM Sotheby's at its auction.

RM Sotheby's indicated that all proceeds from the sale would be directed towards future educational endeavors. Bloomberg News reported that this price point set a new record for the most expensive new car ever sold at an auction, surpassing the previous record set in 2025, as per a statement from Ferrari. The Luce, unveiled in May by the iconic carmaker amid criticism from analysts and consumers, saw its Milan-listed stock plummet over 8% following the launch.

The vehicle was co-designed by LoveFrom, a studio established by former Apple design chief Jony Ive.