Full Breakdown
Ferrari’s Luce EV Defies Mockery, Hits Sales Target
7/31/2026, 9:15:30 PM
Launch and Immediate Market Reaction
Ferrari unveiled its first fully electric model, the Luce, on May 25 in Rome’s Vela di Calatrava arena. The car’s rounded surfaces, oversized wheels and four-door layout—designed in collaboration with former Apple chief Jony Ive and his firm LoveFrom—prompted a wave of online ridicule. Former Ferrari president Luca di Montezemolo publicly wished the “prancing horse” could be removed from the design. The backlash coincided with an 8% drop in Ferrari’s share price in a single trading day, according to Fortune.
Sales Performance and Financial Results
Despite the criticism, the Luce quickly met Ferrari’s 2026 sales quota of just under 500 units, a target set by the Financial Times and filled in less than two months after the May launch. The company sold 13,640 vehicles in 2025 and reported second-quarter revenue of 1.94 billion euros (? $2.2 billion) and an updated full-year outlook of 7.6 billion euros, up from 7.5 billion euros, as noted by Fortune. Ferrari’s shares, listed on the New York Stock Exchange, rose 3% following the earnings release. CEO Benedetto Vigna said the order book is already full through 2027.
Industry Context and EV Market Trends
Ferrari’s success arrives as rivals scale back luxury EV plans. Lamborghini, owned by Volkswagen’s Audi, cancelled its $300,000 Lanzador EV in 2025, with CEO Stephan Winkelmann citing an unready market. In October, Ferrari itself reduced its EV ambition, aiming for 20% of its lineup to be all-electric by 2030 instead of the earlier 40% goal. In the United States, EV market share has slipped: after President Donald Trump eliminated the federal EV tax credit in September, new EV sales fell 49% month-over-month in October and were down 28% year-over-year, according to Fortune.
Official Statements & Responses
CEO Benedetto Vigna emphasized that Ferrari “would not change anything” about the Luce launch and expressed satisfaction with the outcomes. He also warned dealers not to pressure traditional-engine customers into switching to EVs, reinforcing the brand’s cautious rollout strategy.
Verbatim Quotes
- “I would not change anything in the launch of [Luce]. We are very pleased about what has been done,” — Benedetto Vigna, comes as CEO
