Ferrari hit its 2026 sales target for the Luce, its first electric model, within two months of launch, according to two people with knowledge of the matter. The target was just under 500 units and was reached in early July, one of them said. Ferrari declined to comment. Shares were down 0.37% intraday.
The car was designed by former Apple designer Jony Ive and priced from 550,000. Its unveiling in May drew backlash from investors and enthusiasts, with social media comparisons to far cheaper mass-market cars. Former chairman Luca Cordero di Montezemolo called for the prancing horse badge to be stripped from it, and Ferrari's Milan-listed shares fell more than 8% in the first session after the launch.
People close to the company said uptake was strong in China, with positive feedback from U.S. technology entrepreneurs. Ferrari targets about 2,500 Luce units by 2030, roughly 600 a year, or around 5% of annual sales. CEO Benedetto Vigna has said the EV push won't dent the company's 30% operating margin given the limited volumes. Ferrari reports second-quarter results on Thursday.