Ferrari's first electric car sells for record $40 million despite design backlash

Ferrari's inaugural fully electric car, dubbed the "Luce," has fetched a staggering $40 million at auction, setting a new record for the most expensive new car ever sold. The sale occurred at Monterey Car Week in California, a prestigious event for rare and luxury vehicles.

The auctioned vehicle was a unique, one-off creation produced by Ferrari's charitable foundation and designed in collaboration with former Apple designer Sir Jony Ive. Its final sale price far surpassed the presale estimates of $1.1 million, highlighting its exceptional desirability among collectors.

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outstanding result

This record-breaking sale comes despite a notable backlash over the Luce's design upon its unveiling in May. Critics argued that its five-seat, battery-powered configuration represented too radical a departure from Ferrari's traditional styling, potentially eroding the brand's iconic identity. Following the launch, Ferrari's shares experienced a dip, and its long-serving chief marketing officer departed, though Ferrari stated his exit was planned.

Despite the controversy, Ferrari has achieved its 2026 sales target for the Luce, with reports indicating strong demand in China and positive feedback from tech entrepreneurs. Analysts view the auction's success as a potential encouragement for collectors, even for a single-off model. The sale's proceeds will benefit Ferrari's foundation for educational programs.

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a remarkable success