Ferrari's first ever electric car sold for record $40m at auction

Ferrari's inaugural electric vehicle, the Luce, achieved a record-breaking sale at an auction, garnering $40 million (£29.5 million) and setting a new benchmark for newly sold cars at auctions. The auction, held in California through Sotheby's, surpassed the typical price of a Ferrari Luce by more than 35 times.

The Luce, designed by iPhone creator Sir Jony Ive, garnered mixed reactions upon its release in May. Critics argued that its electric powertrain and five-seater configuration deviated from Ferrari's conventional style and weakened the brand's identity. Despite the controversy, the Luce marked Ferrari's entry into the electric vehicle market, a sector primarily controlled by Tesla and Chinese manufacturers.

The car's bespoke features included unique wheels, customized brakes, and an exclusive white finish. All proceeds from the charity auction will be allocated to the Ferrari Foundation's educational programs. Sotheby's refrained from disclosing the Luce's buyer.

The unveiling of the Luce was hailed as one of the most significant automotive launches in recent years, signifying Ferrari's first foray into EVs. The vehicle was invited to be viewed by Italian President Sergio Mattarella and Pope Leo. However, Ferrari's stock plummeted the day after the Luce's launch due to criticism from the car's creator, former chairman Luca Cordero di Montezemolo, and Italy's deputy prime minister Matteo Salvini.

Sotheby's emphasized that the auctioned vehicle represented a unique opportunity to own the first production car of the Luce.

The charity sale encapsulates a tangible embodiment of innovation, responsibility, and long-term vision for future generations, according to Sotheby's. Previously, a bespoke Daytona SP3 supercar sold for $26 million at an auction in 2025, setting a record for the highest price paid for a new Ferrari at auction.