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

On August 17, Ferrari's inaugural electric vehicle, the Luce, sold for a record-breaking $40 million at a charity auction in California. This marked the highest price ever paid for a new car at an auction, surpassing the previous record of $26 million set by a bespoke Ferrari Daytona SP3 supercar in 2025. The Luce, designed by iPhone designer Sir Jony Ive, faced criticism upon its May launch for deviating from Ferrari's traditional design aesthetic.

The car, which is the first production chassis, boasts a unique finish, bespoke parts, special wheels, and customised brakes. Despite the controversy surrounding its design and electric powertrain, the Luce has garnered strong demand, particularly from China, even though Ferrari has not disclosed its sales target. All proceeds from the sale will be donated to the Ferrari Foundation's educational programs.

Ferrari's chief design officer, Flavio Manzoni, acknowledged critics as part of the innovation process and expressed belief that people would eventually appreciate the Luce. The unveiling of the Luce was considered one of the most significant car launches in recent years, as it marked Ferrari's initial entry into the electric vehicle market, a sector dominated by Tesla and Chinese manufacturers.