Ferrari’s first fully electric car, the Ferrari Luce, has sold for $40 million (£29.5 million) at a charity auction in California, setting a new record for the highest price paid for a new vehicle at auction.
The one-off car was sold by RM Sotheby’s, with all proceeds going towards the Ferrari Foundation’s educational programmes.
Luce Sets New Auction Record
The Ferrari Luce was sold at RM Sotheby’s auction in California for more than 35 times the usual price of the vehicle.
The buyer of the customised car has not been identified.
The auctioned Luce features a unique finish, special wheels, customised brakes and bespoke components. Sotheby’s described the sale as a rare opportunity to own the first production example of Ferrari’s new electric model.
The Luce was designed with input from British designer Sir Jony Ive, who is best known for his work on Apple’s iPhone.
Ferrari Faces Criticism Over Electric Shift
Ferrari unveiled the Luce in May, marking the Italian luxury carmaker’s first entry into the electric vehicle market.
The launch attracted criticism from some fans and prominent figures who argued that the five-seat, battery-powered vehicle moved too far away from Ferrari’s traditional identity.
Italy’s Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo were among those who criticised the vehicle.
Montezemolo said the move risked damaging the reputation of the iconic brand.
Ferrari’s chief design officer, Flavio Manzoni, defended the decision, saying criticism was part of the innovation process and expressing confidence that the car would eventually win over its critics.
Strong Demand for the New Ferrari
Despite the controversy surrounding its launch, the Luce has reportedly attracted strong demand, particularly in China.
Ferrari has not publicly disclosed its sales target for the model, although reports indicate that the company has already achieved its target for the year.
The launch represents a major shift for Ferrari as it enters an electric vehicle market dominated by companies such as Tesla and major Chinese manufacturers.
Ferrari Continues to Break Auction Records
Ferrari models have regularly attracted some of the world’s highest prices at car auctions.
In 2025, a bespoke Ferrari Daytona SP3 sold for $26 million, with proceeds supporting the carmaker’s educational initiatives. That sale previously held the record for the most expensive new car sold at auction.
However, the overall auction record remains with the 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for $142 million in 2022.
