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Ferrari’s first fully electric car has sold for $40 million at a charity auction in California, setting a new record for the highest price paid for a new vehicle at auction.
The Ferrari Luce, designed with input from British iPhone designer Sir Jony Ive, was sold at RM Sotheby’s event, with proceeds going to the Ferrari Foundation’s educational programmes. The final price was more than 35 times the model’s typical value.
The one-off vehicle features a unique white finish, bespoke parts, customised wheels and special brakes, making it a collector’s item even before its public debut. Sotheby’s described the sale as an “unbeatable opportunity” to own the first production example of Ferrari’s entry into the electric vehicle market.
The Luce has attracted global attention since its unveiling in May, marking a major shift for the Italian luxury carmaker as it enters a sector dominated by companies such as Tesla and Chinese electric vehicle manufacturers.
However, the launch drew criticism from some Ferrari enthusiasts, who argued that the five-seat, battery-powered car moved away from the brand’s traditional sports-car identity.
Italy’s Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo were among those who questioned the direction of the vehicle, with Montezemolo saying Ferrari risked damaging its legacy.
Ferrari’s Chief Design Officer Flavio Manzoni defended the car, saying criticism was part of the innovation process and expressing confidence that the Luce would gain appreciation over time.
Ferrari has not revealed its sales target for the model, but reports indicate strong demand, particularly from China, has helped the company meet its projected goals for the year.
The charity auction continues Ferrari’s history of attracting record-breaking bids. In 2025, a bespoke Ferrari Daytona SP3 sold for $26 million, setting a previous record for the most expensive new car sold at auction.
The overall record for the highest auction price for any car remains with the rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for $142 million in 2022.
