Ferrari's First Electric Car Sells for Record $40 Million at Auction

Ferrari's first ever all-electric car has sold for $40 million (£29.5 million) at a charity auction in California, setting a record for the most expensive new car ever sold at auction. The sum was raised at an RM Sotheby's sale and is more than 35 times the Ferrari Luce's standard retail price.

The auction house said the record-breaking "first production chassis" features a unique finish and bespoke parts. All proceeds will be donated to Ferrari's educational foundation programmes. The buyer was not named.

The Luce was launched in May and was designed by Sir Jony Ive, the British designer best known for shaping the aesthetic of Apple's iPhone and iMac. The unveiling attracted attention from Italian President Sergio Mattarella and Pope Leo, but also faced a backlash from critics including Italy's deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo, who warned the car risked "destroying a legend."

Ferrari shares dropped the day after the launch, though the brand has reportedly hit its 2026 sales target for the Luce thanks to strong demand from China. Ferrari's chief design officer Flavio Manzoni said in May that he expected public opinion to shift over time. The Luce marks Ferrari's entry into the electric vehicle market, a sector dominated by Tesla and Chinese manufacturers.