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Ferrari's EV Strategy: Loyalty Rankings vs. New Market Growth

Financial Times Companies •
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Collectors are debating whether buying the Luce, Ferrari's first electric sports car, is a genuine purchase or a strategic move to climb the company's secretive client ranking. While the car carries a €550,000 price tag, some buyers hope the acquisition grants them priority access to ultra-exclusive, petrol-burning limited editions.

Ferrari has issued strict orders to dealers to stop suggesting that EV purchases improve a customer's standing. The company aims to sell 2,500 units by 2030, targeting new buyers in China and Silicon Valley rather than traditional collectors. This strategy protects the brand's high margins by keeping limited-run models, like the €3.6mn F80, scarce.

Critics argue the Luce fails on both aesthetics and performance, noting its 2.5-second acceleration lags behind competitors like Rimac. Despite this, CEO Benedetto Vigna dismisses raw speed as trivial, focusing instead on emotional driving experiences. This tension reflects a broader struggle to integrate electrification without alienating a base that prizes internal combustion.

Market reaction was volatile, with shares initially dropping 8.5 per cent in Milan before recovering. The company continues to prioritize long-term relationships and ownership history when allocating its most coveted special series vehicles. Ferrari maintains that the Luce must be bought for love of the drive, not as a ticket to other models.