Ferrari's First EV, Luce, Enters China: Rumors of Sold-Out Initial Quota Cast Doubt on Actual Sales

Ferrari unveiled its first all-electric model, the Luce, in Asia on June 26, 2024. Shortly afterward, reports emerged that the initial allocation of 88 units destined for the Chinese market had already sold out. Priced at RMB 3.988 million in China, the Luce features a four-door, five-seat layout and is powered by a quad-motor system delivering over 1,000 horsepower, enabling it to accelerate from 0 to 100 km/h in approximately 2.5 seconds. However, actual retail sales remain unclear. The Ferrari showroom on Beijing’s Jinbao Street currently does not display a Luce prototype nor any related promotional materials. Sales staff declined to provide clear answers regarding the arrival date of display vehicles, allocation numbers, or whether the initial batch has indeed sold out. Multiple authorized dealers indicated that orders for the Luce are still being accepted, requiring customers to pay a non-refundable deposit of RMB 400,000 to 500,000, with the remaining balance due when production scheduling begins. The first deliveries are expected in the third quarter of 2025. An industry insider familiar with luxury brand distribution channels noted that claims of the “initial 88 units selling out” lack precision. For ultra-luxury brands, allocation fulfillment involves multiple dimensions—including production slot locking, regional distribution, dealer quotas, and verified end-customer orders. It is estimated that fulfilling China’s initial allocation of 88 units will take at least one year. The Luce marks Ferrari’s first all-electric vehicle since the company’s founding nearly 80 years ago. It represents the brand’s debut integration of electrification, a four-door five-seat configuration, and an entirely new design language. Notably, former Apple chief designer Jony Ive and industrial designer Marc Newson were invited to contribute to its exterior design. Despite its impressive performance specs, some critics argue the car lacks traditional Ferrari visual identity, and its absence of advanced driver-assistance systems has sparked controversy. Luca di Montezemolo, Ferrari’s former chairman, publicly questioned whether the Luce might compromise the brand’s heritage. Some prospective buyers are not primarily motivated by driving needs but rather by the historical significance of owning Ferrari’s first EV or by hopes of elevating their status within Ferrari’s client ecosystem to secure access to future limited-edition models. Ferrari has officially denied any linkage between purchasing the Luce and eligibility for future limited-production vehicles, stating such practices could undermine the Luce’s resale value. Meanwhile, China’s premium EV market is fiercely competitive, with consumers placing high expectations on intelligence, charging efficiency, and comfort. Domestic brands like the Zunjie S800 are redefining perceptions of ultra-luxury electric vehicles through cutting-edge smart technologies. Ferrari must now demonstrate that the Luce possesses independent product appeal and long-term collectible value while preserving its core brand identity. Currently, the Luce lacks a clearly defined timeline for showroom displays and customer deliveries. Discussions surrounding buyers’ true motivations for ordering the vehicle will likely become clearer as display cars arrive, customization options are finalized, and the first units are delivered.