Ferrari Luce $40m auction sale makes history as the marque’s first production EV sells for $40m, with proceeds supporting the Ferrari Foundation

Ferrari’s first production electric car, the Ferrari Luce, made a remarkable debut at auction in Monterey, California, over the weekend, selling for $40 million (£29.5 million) despite a mixed reception to the marque’s move into electric motoring.

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The 2026 Ferrari Luce “Tailor Made”, identified as Chassis 0, was sold through RM Sotheby’s, with Ferrari describing the car as an “unrepeatable opportunity” for collectors seeking the first production example of its new electric-car programme.

The extraordinary sale price dwarfs the Luce’s expected starting price of about €550,000 (£470,000), highlighting the premium attached to the particular vehicle’s place in Ferrari history.

Ferrari said the proceeds from the auction would be donated to the Ferrari Foundation to support future educational initiatives.

The vehicle was built to United States specifications and is expected to return to Maranello, Italy, before being delivered to its anonymous buyer in the first quarter of 2027.

Its specification is also distinctly individual. The exterior carries a Madreperla Semi-Gloss finish developed specifically for the car, while the cabin was created through Ferrari’s Tailor Made programme and features Le Mans metallic leather in Perla.

A dedicated plaque identifies the vehicle as the first production chassis of the Luce programme.

Ferrari described Chassis 0 as “one of the most complete and significant expressions” of its Tailor Made personalisation programme.

The sale comes at a significant moment for Ferrari as the Italian marque attempts to move into the electric-car era without losing the character and exclusivity that have defined its reputation for decades.

The Luce was designed by Sir Jony Ive, working alongside designer Marc Newson and the LoveFrom collective, giving the car a design pedigree extending beyond the traditional automotive world.

Technically, the electric Ferrari is expected to deliver a range of 329 miles, accelerate from 0 to 100km/h in 2.5 seconds and produce a maximum combined output of 1,050 cv.

It is also expected to feature a 122kWh battery, four electric motors and a dedicated technical platform developed specifically for the model.

Ferrari has positioned the Luce as a bold step into a new era. At its launch, the company’s president said the marque was “redefining the limits of what is possible”.

Not everyone has welcomed the direction.

Former Ferrari chairman Luca di Montezemolo criticised the decision to embrace electric vehicles, warning that the Luce “risked the destruction of a legend”.

Some automotive commentators and enthusiasts have similarly questioned the model’s design and specifications, making the $40 million auction result an especially striking moment for Ferrari.

The price also made the Luce the standout sale at the Monterey event. A 1996 McLaren F1 GTR reportedly sold for £25.5 million, placing it behind the Ferrari in the event’s top sales.

For Ferrari, however, the significance of the auction extends beyond the headline figure. The sale places a historic first production example of its electric future in private hands while directing the proceeds towards education.

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The Ferrari Luce $40m auction therefore represents an intriguing intersection of automotive heritage, technological change, collector culture and philanthropy, with Ferrari’s first electric production model commanding an extraordinary premium before customer deliveries have even begun.