When Ferrari unveiled its first electric car, the Luce, in May, the reaction was brutal. The five-seater, designed by Apple's longtime design chief Jony Ive, was widely mocked, and Ferrari's share price fell. Now the headlines say it's sold out for 2027.
On Tuesday's third-quarter earnings call, CEO Benedetto Vigna said the Luce's 2027 production run is "fully allocated", meaning every Luce Ferrari plans to build next year already has a buyer. "If someone comes, he has to wait one year to get the cars," he added. First deliveries are due in the fourth quarter of this year, and Vigna said client test drives next year would help boost demand further. That suggests customers are more enthusiastic than the critics.
What Ferrari won't say about the Luce
But there's a detail missing: Ferrari won't say how many it plans to make. It has never disclosed how many Luce cars it will produce, and Vigna declined to give 2027 sales targets. The Financial Times reported earlier this year, citing unnamed sources, that Ferrari planned to sell just under 500 this year. Vigna would only say the buyers are a "good mix" of clients and countries, and that there are no critical issues on manufacturing or demand, although the car "is more complex because it has many new parts and many new technologies". Interest has shown up in other places too: a Luce "Chassis 0" set a record at auction during Monterey Car Week in the third quarter.
A strong quarter for Ferrari
The rest of the quarter gave Ferrari less to explain. Revenue rose 7% to €1.9 billion and net profit 13% to €431 million, helped by customisations, which made up more than 21% of revenue from cars and spare parts. Ferrari raised its full-year guidance and now expects adjusted earnings of at least €3 billion. Vigna said the order book across the range now reaches into 2028.
Ferrari is also working on more electric models, aiming for fully electric cars to make up 20% of its range by 2030. The Luce is the first test of that plan, and a full order book is a good start. So while a sellout sounds impressive, we don't yet know how many car orders are behind it.
