Ferrari's First Electric Car, 'Luce,' Sells for Unprecedented $40 Million

An exclusive "Tailor Made" model of Ferrari's first all-electric vehicle, the Luce, recently fetched an unprecedented $40 million at an RM Sotheby's charity auction during Monterey Car Week in California. This sale set a new record for the most expensive new car ever sold at auction, significantly surpassing its initial pre-auction estimate of $1.1 million. All proceeds from the auction are designated for educational initiatives through The Ferrari Foundation.

Unveiled in May 2026, the Ferrari Luce, Italian for "light," represents a significant departure from the brand's traditional designs. Developed in collaboration with former Apple designers Jony Ive and Marc Newson, the four-door, five-seater electric vehicle features a polarizing, more restrained aesthetic compared to conventional Ferraris, initially drawing criticism and an 8% dip in Ferrari's share price.

Despite the initial design controversy, the Luce boasts impressive specifications, including approximately 1,035 horsepower from its four electric motors, a 0-62 mph acceleration in 2.5 seconds, and a top speed of around 192 mph. The standard model of the Luce has a retail price starting around €550,000, or approximately $640,000 USD.