Record-breaking! Ferrari NV (RACE.US) sells its first electric vehicle, Luce, for $40 million, further validating its scarcity premium in the market.

Ferrari NV (RACE.US)'s first electric vehicle was sold for $40 million at a Sotheby's auction, setting a new record for vehicle auction prices. The car, named "Chassis 0," is the first production model of Ferrari NV's Luce project and features a special plaque. Ferrari NV stated that all proceeds from this charity auction will be donated to the Ferrari NV Foundation to support future educational charity projects. Luce is Ferrari NV's first mass-produced all-electric model. This high-performance five-door, five-seat hatchback expands Ferrari NV's product lineup, moving beyond the traditional two-seat and four-seat Deluxe Corporation touring cars. Luce is equipped with four permanent magnet synchronous motors independently developed by Ferrari NV, with one for each wheel, achieving all-wheel drive and high-precision torque vectoring control. Reports indicate that despite Luce's starting price of approximately $640,000 and mixed reviews on its design, the car sold out its entire 2026 allocation (around 500 units) in less than two months after its release in May. Chinese buyers and American tech entrepreneurs have shown a strong preference for Luce, thanks to Ferrari NV's precise marketing efforts. Deluxe Corporation automotive analyst Scott Sherwood stated, "Ferrari NV's marketing and customer insights are far ahead of many competitors." Data shows that in the second quarter, Ferrari NV's adjusted EBITDA grew by 7% year-on-year to 755 million, surpassing the market expectation of around 729 million. Due to strong demand for limited edition models like the F80 and the higher-priced four-seat version of the Purosangue, Ferrari NV also raised its full-year performance guidance. Although Ferrari NV did not separately disclose Luce's sales figures in its financial report, the fact that the 2026 allocation sold out in less than two months indicates that electrification has not significantly impacted Ferrari NV's customer demand and scarcity model. With its unique luxury business model, Ferrari NV stands out among traditional automakers, and the market's valuation logic has moved beyond the automotive industry cycle, more in line with top luxury brands. On Monday, before the U.S. stock market opened, Ferrari NV's stock price rose by 1.3%. The stock has accumulated a 14% increase this year, significantly outperforming European automakers such as Volkswagen and Mercedes-Benz.