Ferrari’s first electric vehicle, the Luce, is not only selling but is completely sold out.
Created by Jony Ive, the former design head at Apple, the five-seater EV faced significant criticism upon its launch in May, which contributed to a decline in Ferrari’s stock value. However, CEO Benedetto Vigna reports that this negativity has not affected demand.
According to Vigna, the production for 2027 is already “fully allocated,” meaning that every vehicle Ferrari intends to manufacture next year has been purchased. He noted that potential buyers would now have to wait an additional year to obtain a Luce, with initial deliveries expected by the end of this year.
The exact number of Luce vehicles produced remains unspecified, as Ferrari has not revealed its production plans publicly. Earlier reports indicated that the company aimed to sell about 500 units this year, with a goal of reaching 2,500 units annually by 2030.
Speculation about the identity of the buyers—possibly tech billionaires—will continue, as Vigna refrained from disclosing any specific customer details. He did mention that the clientele is varied, both in terms of demographics and geographical distribution.
Although Luce deliveries have not yet begun, Ferrari’s existing lineup and the strong interest in customization significantly contributed to the company’s healthy financial results in the third quarter. Revenue from custom features, which constitutes over 21% of total car and spare parts income, bolstered profits. The company reported that its F80 hypercar deliveries and customization options reflected a growing trend among clients to create personalized Ferraris. Consequently, Ferrari updated its full-year financial outlook, anticipating adjusted earnings to exceed €3 billion ($3.36 billion), an increase from a previous estimate of €2.97 billion.
Ferrari, known for its impressive profit margins, reported third-quarter revenue of €1.9 billion, marking a 7% increase from last year, with net profits rising by 13% to €431 million. The operating profit was €563 million, achieving a 29.7% operating margin, which means the company retained nearly 30 cents of every revenue dollar as profit.
