Ferrari’s first-ever electric vehicle has sold for $40 million (£29.5 million) at a charity auction in California, setting a record for the highest price paid for a new vehicle at auction.
The Ferrari Luce, which was designed with input from British iPhone designer Sir Jony Ive, was sold at an RM Sotheby’s auction, with all proceeds going towards educational programmes run by the Ferrari Foundation.
The price paid for the customised Luce was more than 35 times the vehicle’s usual price at the event.
RM Sotheby’s did not disclose the identity of the buyer.
Ferrari Luce makes history as first electric Ferrari
The Luce was unveiled in May in what was regarded as one of Ferrari’s most significant new vehicle launches in recent years.
The model represents the Italian luxury carmaker’s first entry into the electric vehicle market, placing Ferrari in a sector that has been led by companies such as Tesla and major Chinese electric vehicle manufacturers.
The vehicle features a distinctive white finish, special wheels and customised brakes, along with other bespoke components.
Sotheby’s described the auction as an “unbeatable opportunity” to acquire the first production Luce.
The auction house said the charity sale represents a tangible demonstration of innovation and a long-term commitment to future generations.
Ferrari faces criticism over electric model
The launch of the Luce was met with criticism from some Ferrari enthusiasts and commentators, who argued that the electric powertrain and five-seat configuration departed from the brand’s traditional identity.
Ferrari’s share price also declined the day after the vehicle was unveiled.
Among the critics was Italy’s Deputy Prime Minister Matteo Salvini, while former Ferrari chairman Luca Cordero di Montezemolo warned that the new direction risked damaging the reputation of the iconic marque.
Ferrari Chief Design Officer Flavio Manzoni defended the vehicle, saying criticism was a natural part of the innovation process and expressing confidence that the Luce would eventually win over its critics.
Strong demand supports Ferrari Luce sales.
Ferrari has not publicly revealed its sales target for the Luce.
However, a Financial Times report said the company had already reached its target for the year, helped by strong demand from Chinese customers.
The unveiling of the electric Ferrari attracted considerable international attention, with Italian President Sergio Mattarella and Pope Leo among those invited to view the new model.
Ferrari maintains strong auction appeal.
Ferrari vehicles have consistently attracted some of the highest prices recorded at prestigious car auctions.
In 2025, a bespoke Ferrari Daytona SP3 sold for $26 million at auction, with proceeds supporting the carmaker’s educational initiatives. That sale established a record at the time for the highest price paid for a new vehicle at auction.
Despite the Luce’s $40 million sale setting a new record for a new car, it remains well below the overall auction record for a motor vehicle.
That record belongs to the ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for $142 million in 2022.
