Ferrari's first fully electric car, the Luce, sold for a record $40mn at Sotheby's auction during Monterey Car Week, far exceeding presale estimates of $1.1mn. Designed by Sir Jony Ive, the one-off vehicle was produced for Ferrari's charitable arm, with a standard model priced from €550,000. The sale set a new benchmark for new car auctions, surpassing last year's Ferrari Daytona SP3 sale of $26mn.

The Luce's design sparked controversy, drawing criticism for departing from Ferrari's traditional styling. Despite backlash, Ferrari's shares recovered, though they initially dropped 8% post-launch. Analysts praised the auction result, with Jefferies' James Grzinic calling it a "remarkable success." The Italian automaker has met its 2026 sales target, with strong uptake in China and positive feedback from tech entrepreneurs.

Ferrari remains the only European carmaker to lift 2027 guidance, leveraging hyper-personalization trends.