Full Breakdown
Ferrari Uses Luce EV Orders to Test Client Loyalty Amid Mixed Reception
6/18/2026, 1:40:59 PM
Loyalty Test: Luce as a Path to Scarce Models
Ferrari told its collector network that buying the €550,000 (US$636,000) Luce electric sedan can improve a client’s position for future allocations of its most limited-edition cars, such as the $2.1 million LaFerrari Aperta. Sources say the “buy-the-Luce” cue is a stepping stone to upcoming one-off models.
Allocation System and EV Context
Ferrari’s scarcity-based allocation rewards long-term purchase history, similar to Hermès. The Luce, unveiled 25 May, is the marque’s first battery-only model, styled by Jony Ive’s LoveFrom studio. Its minimalist design drew sharp criticism, and shares fell about 8 % after the Rome unveiling, the steepest drop since October.
Numbers and Market Impact
The Luce costs €550,000; entry-level Amalfi and 296 GTB start at €240,000 and €290,000. Ferrari produces under 14,000 cars a year for roughly 90,000 clients, a 20 % increase since 2022. Luxury-car values have risen > 30 % over the past decade, outpacing art and diamonds, while Ferrari’s operating margin remains near 40 %.
Ferrari’s Official Allocation Policy
Ferrari said in an email it “prioritises those with long-term, strong relationships” when selecting buyers for highly sought-after models. It stressed that personal connection, not a purchase made solely to please Ferrari, guides allocation, and that loyalty can also be shown through less costly series-production cars.
Design Criticism and Market Skepticism
Commentators described the Luce’s smooth lines as “bland” and likened it to mass-market Honda and Tesla models. Former chairman Luca di Montezemolo called the car “a disgrace to Ferrari’s history,” and Deputy Prime Minister Matteo Salvini called it “outrageously expensive.”
Conflicting Signals on Demand
Evercore ISI analyst Michael Binetti said dealer checks show “very little demand” from existing clients, while CEO Benedetto Vigna claimed the Luce was “clocking up orders from both old and new customers.” Bloomberg reported a 1.9 % share-price decline after the loyalty-test story, versus an 8 % drop on the day of the unveiling.
Outlook for Ferrari’s EV Strategy
Luce deliveries are slated for Q4 2026, with U.S. shipments in 2027. Ferrari has cut its 2030 fully-electric target to 20 % of the lineup and delayed its second EV to at least 2028. Morgan Stanley upgraded Ferrari stock, arguing the market over-reacted to the Luce launch.
Verbatim Quotes
- “If you go every week, eventually they find you one. With Ferrari, the more you buy, the more you are treated as an important client.” — Max Girardo, founder, Girardo & Co.
- “Former chairman Luca di Montezemolo called the car a disgrace to Ferrari’s history and said he hoped the prancing horse would be removed from it, Reuters reported.” — Luca di Montezemolo, former chairman, Ferrari
- “outrageously expensive.” — Matteo Salvini, Italian Deputy Prime Minister
