Ferrari's Luce EV 2027 Production Run Fully Allocated Despite Initial Criticism

Luce EV Sells Out 2027 Production

Ferrari's CEO Benedetto Vigna announced that the entire 2027 production run for the Luce, the company's first electric vehicle, is already sold. This means all units planned for next year have buyers, with new orders facing a one-year waiting period. The Luce starts at approximately $615,000.

Initial Reception and Demand

Upon its debut in May, the five-seater Luce EV, designed by Jony Ive, received significant criticism and was widely panned, leading to a decrease in Ferrari's stock price. Despite this initial negative reaction, demand for the vehicle has remained strong, as indicated by the sold-out production.

Production Volume and Buyer Demographics

Ferrari has not publicly disclosed the exact number of Luce vehicles it plans to produce. Previous reports suggested a target of just under 500 units for this year and a longer-term goal of 2,500 units by 2030, averaging about 600 per year. Vigna stated that the buyers represent a "good mix in terms of client" and geography, with no specific demographic pattern.

Financial Performance and Customization

Ferrari's overall financial performance in the third quarter was strong, with revenue of €1.9 billion, a 7% increase year-over-year, and net income of €431 million, up 13%. Customization options contributed significantly, accounting for over 21% of revenue from cars and spare parts. This contributed to the company raising its full-year adjusted earnings guidance to at least €3 billion.