Ferrari's Stock Dips After Lukewarm Market Response to First All-Electric Supercar, Luce

Ferrari recently unveiled its first all-electric supercar, the Luce, which is also the brand’s first five-seater and its second four-door model following the Purosangue. Designed with input from a former Apple designer, the Luce carries a price tag of €550,000 and is scheduled for deliveries to begin in the fourth quarter of this year. The car targets Chinese new-energy vehicle buyers and professionals in Silicon Valley’s tech industry. The market responded coolly to the launch, sending Ferrari’s shares down 8.4% on the Milan stock exchange and 5.1% in New York. Italian Deputy Prime Minister and Minister of Infrastructure and Transport Matteo Salvini publicly questioned the Luce’s design, while former Ferrari chairman Luca Cordero di Montezemolo criticized the vehicle for failing to align with the iconic Prancing Horse brand identity. Despite the initial backlash, the company’s stock has since stabilized. Ferrari CEO Benedetto Vigna stated that the Luce represents a crucial step in demonstrating the company’s electrification vision and emphasized that embracing new technologies is essential to maintaining Ferrari’s leadership position in the industry. According to the company’s roadmap, by 2030 Ferrari’s lineup will consist of 40% battery-electric vehicles, 40% hybrids, and 20% internal combustion engine models. The Luce’s ultimate market success will depend on real-world customer feedback.