Record breaking! Ferrari (RACE.US)'s first electric car, Luce, sold at a $40 million scarcity premium and was then verified by the market

The Zhitong Finance App learned that the first electric car manufactured by Ferrari (RACE.US) sold for 40 million US dollars at Sotheby's, setting a new car auction price record. The car, named “Chassis 0,” is the first mass-produced model in the Ferrari Luce project and is equipped with an exclusive nameplate.

Ferrari said that all proceeds from this charity auction will be donated to the Ferrari Foundation to support future educational charity projects.

The Luce is Ferrari's first mass-produced all-electric model. This high-performance 5-door, 5-seater hatchback extends the Ferrari brand product line beyond traditional two-seater and four-seater luxury station wagons. Luce is equipped with four permanent magnet synchronous motors independently developed by Ferrari, one for each wheel, to achieve all-wheel drive and high-precision torque vector control.

According to reports, although the Luce's starting price was as high as 640,000 US dollars, and the outside world gave mixed reviews for its design, the car sold out its full 2026 quota (about 500 units) in less than two months after it was released in May. The report said that Chinese buyers and American tech entrepreneurs favored Luce, thanks to Ferrari's precise marketing activities. “Ferrari's marketing and customer insight far surpasses many of its competitors,” said Scott Shelwood, a luxury car analyst.

According to the data, Ferrari's adjusted EBITDA increased 7% year-on-year to 755 million euros in the second quarter, higher than market expectations of about 729 million euros; due to strong demand for limited-edition models such as the F80 and the more expensive four-seater version of the Purosange, Ferrari also raised its annual performance guidelines.

Although Ferrari did not separately disclose Luce's sales data in the financial report, the 2026 quota was sold out in less than two months, indicating that electrification has yet to have a substantial impact on Ferrari's customer demand and scarcity system. With its unique luxury business model, Ferrari is unique among traditional car manufacturers. The market's valuation logic has broken away from the automobile industry cycle, with more reference to top luxury brands.

Before the US stock market on Monday, Ferrari's stock price rose 1.3% as of press release. The stock rose 14% during the year, outperforming European car manufacturers such as Volkswagen and Mercedes-Benz by a large margin.