Ferrari Clarifies EV Luce Won’t Be Tied to Limited-Edition Purchase Requirement; Shares Plunge on Market Backlash

On June 24, 2024, Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, clearly stated that the company would not make purchasing its first electric vehicle, the Luce, a prerequisite for qualifying to buy limited-edition models, adding that such a practice would negatively impact the brand. He emphasized that the Luce should be sold only to customers who genuinely intend to purchase the car, rather than those seeking access to other models or additional privileges. Ferrari has long employed an allocation system, under which loyal customers who already own multiple Ferraris typically receive priority access to limited-edition models. In 2025, approximately 84% of new car deliveries went to existing owners, with about 56% of those vehicles going to buyers who already owned more than one Ferrari. The Luce made its global debut at the end of May 2024, priced at €550,000 (approximately RMB 4.255 million). Its high price tag and design sparked widespread negative reactions on social media, causing Ferrari’s share price to drop by more than 8% on the day of launch and wiping out over $5 billion (approximately RMB 33.93 billion) in market value. Since then, Ferrari CEO Benedetto Vigna has said both new and existing customers have shown interest in the Luce, though the company has not disclosed specific order figures and plans to provide more details when it releases its second-quarter financial results at the end of July. Additionally, Ferrari has postponed the launch of its second electric vehicle to 2028.