Ferrari's First All-Electric Car Sells for $40 Million

Ferrari's first all-electric vehicle has once again responded to criticism with market performance, just as it has since its unveiling.

Sotheby's announced that a custom Ferrari Luce electric car sold for $40 million (NT$1.275 billion) during the Monterey Car Week auction held last weekend, setting a record for the most expensive new car ever sold at auction.

Dubbed 'Chassis 0,' this vehicle represents the first production chassis to roll off the Luce project line and features a dedicated plaque. The auction house did not disclose the buyer, and all proceeds will be donated to the Ferrari Foundation's educational programs.

The winning bidder will not immediately take ownership of the car. After the auction, the vehicle will return to Ferrari's headquarters in Maranello, Italy, with final delivery scheduled for the first quarter of 2027.

The $40 million price tag far exceeded industry expectations. When the model was unveiled in May, its starting price was set at €550,000 ($640,000), leading analysts to predict an auction price of only around $1.1 million.

Ferrari North America wrote in an Instagram post: 'The bid price kept rising, ultimately making history.'

However, the Luce still falls short of the record for the most expensive car ever auctioned. That title remains with a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for €135 million in 2022.

For a vehicle that sparked significant controversy upon launch, the Luce's market performance has been nothing short of a comeback. When the car's exterior was revealed in May, its '4-door, 5-seat' configuration and design—markedly different from traditional Ferrari sports cars—drew criticism, causing the company's stock price to drop over 8%.

Luca di Montezemolo, Ferrari's former chairman who led the company for 23 years, bluntly stated that the company was 'risking the destruction of a legend' and expressed hope that the new car would 'at least remove the Ferrari badge.'

Nonetheless, sales of the Ferrari Luce have been surprisingly strong. Ferrari originally planned to sell 500 Luce units by 2026, but achieved its full-year sales target within just two months of launch. Insiders report that the car has received highly positive feedback within tech billionaire circles.