Ferrari’s first-ever fully electric car has sold for a staggering $40 million (£29.5 million) at a charity auction in California, setting a new record for the highest price ever paid for a new car at auction.
The special Ferrari Luce was sold by RM Sotheby’s, with the proceeds going towards educational programmes run by the Ferrari Foundation. The buyer has not been publicly identified.
The auctioned Luce is a unique version of Ferrari’s first electric production model, featuring a distinctive white finish, bespoke components, special wheels and customised brakes. According to Sotheby’s, the vehicle represents a rare opportunity to own the first production Luce.
The $40 million price tag is more than 35 times the usual price of a Ferrari Luce, making the sale an extraordinary result even by Ferrari’s standards. The auction house described it as an “unbeatable opportunity” for collectors.
The Luce, designed with input from former Apple design chief Sir Jony Ive, made its highly anticipated debut in May. It marked Ferrari’s first major move into the electric vehicle market, placing the Italian marque in competition with established EV manufacturers including Tesla and rapidly expanding Chinese carmakers.
However, the launch was met with criticism from some Ferrari enthusiasts who felt the electric model departed too far from the brand’s traditional identity. Its battery-powered drivetrain and five-seat configuration were among the features that attracted debate.
Ferrari’s shares also fell following the unveiling, while Italian Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo were among those who criticised the direction taken by the company.
Montezemolo warned that the electric model risked “the destruction of a legend”, while Ferrari chief design officer Flavio Manzoni defended the vehicle, saying criticism was part of the innovation process and expressing confidence that people would eventually appreciate its design.
Ferrari has not revealed its sales target for the Luce. However, a Financial Times report said the company had already achieved its target for this year, helped by strong demand from China.
The charity auction also adds another record to Ferrari’s already impressive history at high-end car auctions. In 2025, a bespoke Ferrari Daytona SP3 sold for $26 million, setting the previous record for the most expensive new car ever sold at auction.
Despite the new record, the Luce remains far below the overall auction record for any car. That title belongs to the ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which fetched around $142 million in 2022.
