Sorry, haters. Ferrari’s first EV is doing just fine: latest — Key

Ferrari's much-debated first electric vehicle, the Luce, has silenced its critics by hitting its entire annual sales target in just two months. Unveiled to a storm of negative online reactions and a dip in stock price, the €555,000 ($630,000) five-seater EV, largely designed by Jony Ive, has demonstrated surprising market appeal, particularly in China.

When the Luce debuted in May 2026, the internet was quick to pounce. Critics derided its wedge-shaped design, drawing unfavorable comparisons to a Nissan Leaf and predicting it would be outmatched by more affordable Chinese EVs. Even Luca Cordero di Montezemolo, Ferrari's former chairman, joined the chorus of detractors, contributing to an 8% drop in Ferrari's stock the day following the reveal. The consensus among many online commentators was that the Luce would be a significant commercial misstep.

However, these armchair auto executives appear to have misjudged the market. According to a report by the Financial Times, Ferrari successfully met its sales goal of just under 500 units for the Luce within a mere two months. This rapid uptake suggests a strong demand that defied the initial public backlash.

A substantial portion of these sales is heading to the lucrative Chinese market, which reportedly accounts for at least 20% of the initial allocation. The Luce's design, characterized by its fast, sleek, four-door profile, seems particularly well-suited for this region, where all 88 cars launched in China reportedly sold out immediately upon release.

The widespread online criticism often centered on the Luce's styling, which blended traditional Ferrari elements with novel design choices. While appearance remains subjective, it's possible the vehicle's aesthetic translates more effectively in person than through initial online images, influencing early buyers to place orders.

Ferrari's enduring brand power and its loyal, affluent customer base likely played a crucial role in the Luce's unexpected success. The company sold more than 13,000 vehicles last year, primarily six-figure models, indicating a market of enthusiastic and price-insensitive buyers. Many Ferrari owners possess multiple models, making the acquisition of a practical, yet still distinctly Ferrari, EV a natural progression for a segment of this clientele.

Furthermore, early reviews suggest that despite its electric powertrain, the Luce delivers a driving experience befitting a Ferrari. This combination of brand prestige, confirmed performance, and a unique offering appears to be all the marque needed to secure its initial sales goals, proving that the iconic prancing horse badge retains significant allure even in the evolving EV landscape. TechCrunch has sought confirmation of these figures from Ferrari and will update this report if a response is received.

FAQ

Q: What is the Ferrari Luce?

A: The Ferrari Luce is the luxury automaker's first all-electric vehicle, a five-seater model revealed in May 2026 and largely designed by Jony Ive and his firm, LoveFrom.

Q: Why was the Ferrari Luce initially criticized?

A: Upon its reveal, the Luce faced significant online backlash for its styling, with some comparing it to a Nissan Leaf. Critics also questioned its value and performance compared to emerging Chinese EVs, leading to a temporary drop in Ferrari's stock.

Q: How quickly did the Ferrari Luce achieve its sales targets?

A: The Ferrari Luce impressively hit its entire annual sales target of just under 500 units within two months of its public debut in May 2026, with a significant portion of these sales directed to the Chinese market.