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Ferrari Unveiling Fallout
- Ferrari’s unveiling of the Luce in Rome triggered an 8% drop in Milan-listed shares, wiping roughly €4-5 billion from market value.
- The €550,000 Luce, created with LoveFrom (Jony Ive, Marc Newson), was called a betrayal of Ferrari’s history by former chairman Luca di Montezemolo.
- Despite analysts warning that the model could hurt Ferrari’s brand, CEO Benedetto Vigna said it will be profitable in limited volumes without eroding the 30% operating margin.
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