EV Luce Lifts Ferrari Sales

By the Editorial Team · Thursday, July 30, 2026

Ferrari sold nearly 500 units of its first electric vehicle, the Luce, within two months of its May launch, surpassing its annual sales target driven mainly by strong demand in China. Despite mixed reactions to its unconventional design and initial stock price decline, the model represents Ferrari’s strategic push into electric vehicles targeting new affluent customers, with plans to sell around 2,500 units by 2030.

Ferrari has reached its annual sales target for its first electric vehicle, the Luce, in less than two months since its launch on May 25. The luxury automaker set a goal to sell just under 500 units of the model this year, a milestone reportedly driven largely by strong demand from China.

Priced at approximately $626,000 (around €550,000), the Luce is a four-door, five-seat electric vehicle designed by former Apple designers Jony Ive and Marc Newson. Despite its innovative electric powertrain, the car’s unusual and polarizing design has drawn significant criticism from critics, investors, and automotive enthusiasts. Some have compared its styling unfavorably to lower-priced mass-market vehicles, and even former Ferrari chair Luca Cordero di Montezemolo suggested the model should not bear Ferrari’s iconic prancing horse emblem. Following the car’s unveiling, Ferrari’s Milan-listed shares dropped more than 8 percent in their first trading session.

The controversy surrounding the Luce has coincided with leadership changes at Ferrari, including the recent departure of Enrico Galliera, the company’s long-serving chief marketing and commercial officer. Ferrari said this transition and Galliera’s replacement by a former BMW executive were planned prior to the Luce launch.

Ferrari chairman John Elkann has described the Luce as “a car of the future” and acknowledged that it represents a departure from the brand’s traditional offerings. The automaker has framed the vehicle as a strategic effort to showcase its technological capabilities and appeal to a new generation of wealthy customers who are already familiar with electric vehicles, particularly in key markets such as China and Silicon Valley.

Company officials have emphasized targeted marketing strategies, aiming to introduce the Luce primarily to customers who are ready to adopt electric vehicles while reassuring traditional Ferrari collectors who prefer combustion engines. Ferrari has also communicated to dealers not to push existing petrol car customers to switch to electric models prematurely.

Looking ahead, Ferrari has set a longer-term target of selling around 2,500 Luce units by 2030, averaging about 600 annually, which would constitute roughly 5 percent of the company’s yearly sales. Analysts generally view this goal as attainable. Ferrari’s chief executive Benedetto Vigna has said the company’s entry into the electric vehicle market should not compromise its operating margin, which currently stands around 30 percent, due to the limited production volumes of EVs.

While the Luce’s design remains a point of contention, market feedback in China has been notably positive, and interest from U.S. tech entrepreneurs has also been strong. Analysts highlight Ferrari’s sophisticated marketing and customer insight as key factors in the model’s early sales success.

Ferrari is expected to provide further updates on the Luce’s market reception during its half-year financial results presentation. The company has declined to publicly comment on specific sales figures or the targets related to the Luce.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.