Ferrari Luce EV Sells Out in China Despite Backlash
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- Ferrari Luce — the brand's first all-electric sedan and first regular-production sedan, penned by ex-Apple designer Jony Ive and unveiled in May — sold out its entire 88-unit Chinese allocation at 3,988,000 yuan (~$586,000) apiece, per CarNewsChina.
- Ferrari saw its stock drop more than 6% in a single day after the Luce debut drew widespread online criticism calling the car "too plain, too practical, and too electric."
- Enrico Galliera, Ferrari's long-serving chief marketing and commercial officer, was fired weeks after the rocky debut and replaced by former BMW Italy boss Massimiliano Di Silvestre.
- Ferrari CEO Benedetto Vigna said the Luce is "clocking up orders" despite the backlash, suggesting critics are not the same people who can afford to buy the car.
- A Bloomberg report alleged Ferrari dealers were forcing customers to purchase a Luce in order to access the brand's more exclusive models — a claim Galliera denied before his dismissal, calling the article "totally not correct."
Why it matters: The complete China sellout at ~$586,000 per car undercuts the narrative that the Luce was a market failure — the backlash that cost Galliera his job and shaved 6% off Ferrari's stock appears to be an internet phenomenon disconnected from actual buyer demand. Whether that demand is organic or the product of dealer bundling (as Bloomberg reported) is the real question hanging over Ferrari's first EV bet.
