Ferrari Stock Falls 6% After Electric Vehicle ‘Luce’ Debut

Key Takeaways

• Ferrari stock fell more than 6% after unveiling
the €550,000 Luce, the company’s first
fully electric vehicle and first-ever five-seater
• Investors and fans criticized the Ferrari EV’s
design as shares extended losses to
nearly 27% from yearly highs
• Porsche and Lamborghini have already scaled
back EV plans, raising fresh concerns about
luxury electric vehicle demand in Europe

Ferrari stock slipped more than 6% on Tuesday after the company unveiled the Luce, its first fully electric car. The launch was supposed to mark a big moment for the Italian automaker, but the reaction online and on the market was mixed almost immediately. Investors questioned whether demand for a high-end Ferrari EV is really there right now, especially as luxury carmakers across Europe slow down their electric plans.

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Why Ferrari’s First Electric Car Sparked Backlash From Investors and Fans

Ferrari shares fell by 6.31% and was priced at €290.15 in Milan trading shortly after the Luce reveal. This made it one of the stock’s sharpest single-day reactions to a product launch in recent years. The selloff added to a difficult stretch for Ferrari stock, which is already down roughly 27% from its yearly highs.

Ferrari’s Luce starts at around €550,000 or $640,000 and was developed with LoveFrom, the design firm founded by former Apple designer Jony Ive. It also looks very different from a traditional Ferrari. The Luce is a five-seater with a taller body and a more minimal interior, moving away from the brand’s usual aggressive sports car styling.

This became a talking point online within hours of the reveal. Some users criticized the design and compared it to more mainstream EVs, while others said Ferrari needed to evolve as emissions rules tighten in Europe. Ferrari CEO Benedetto Vigna said the company expected strong reactions because the Luce represents a completely new direction for the brand.

The timing also matters. Porsche has already reduced some EV targets because of softer demand. In addition, Lamborghini recently stepped back from plans for a fully electric model. This has made investors more cautious around luxury EV launches in general.

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Community Reacts to Ferrari’s Latest Venture

Morningstar strategist Michael Field told CNBC that some Ferrari fans see electric models as a risk to the brand’s identity, which has always been closely tied to engine sound and performance. Oddo BHF analyst Anthony Dick described the selloff simply by saying, “The market has spoken.”

Analysts say the bigger concern is not whether Ferrari can sell the Luce. But it is whether electric models change how buyers view the brand over time. Martino de Ambroggi, an analyst at Italian brokerage Equita, said,

“We stick to our view that an electric model with a high price, despite being a ‘range’ model, will not generate high volumes. We do not believe that the volumes of this model are decisive in influencing the group’s results, but since it is the first model with a new engine, it is important to preserve the image of quality and performance.”

Ferrari has tried to keep the performance side intact. The Luce can reportedly go from 0 to 60 mph in about 2.5 seconds and reach a top speed close to 192 mph. Deliveries are expected to begin later this year.

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