Priced at up to $640,000! Ferrari's First All-Electric Car, Luce, Meets Cool Reception, Share Price Drops by Over 6%

Ferrari's share price fell by about 6% in Milan on Tuesday after the Italian supercar maker unveiled its first electric vehicle, Luce, which has sparked widespread criticism from Wall Street analysts for its design.

Luce is a four-door, five-seat electric supercar with a starting price of 550,000 euros (approximately $640,000), seen as the biggest test for Ferrari in transitioning from the combustion era to electrification, spanning nearly 80 years. The vehicle is equipped with a 1,000 horsepower powertrain, accelerates from 0 to 60 miles per hour in just 2.5 seconds, and has a top speed of over 192 miles per hour. Despite its top-tier performance specifications, its exterior design quickly elicited negative feedback online.

AIR Capital analyst Pierre-Olivier Essig bluntly stated, "It looks like a hybrid of a Honda Accord EV and a Tesla. We are at a loss with Ferrari's new strategy."

"It looks like a hybrid of a Honda Accord EV and a Tesla. We feel lost with Ferrari's new strategy."

Oddo BHF analysts pointed out that the initial reaction from core Ferrari enthusiasts to the appearance of the Luce was mostly negative, reflecting the market's concerns about its deviation from the brand's tradition. The agency believes that although this is a bold strategic move, given the high development costs and the relatively weaker residual value of electric vehicles, the提振 of sales by Luce may be limited, and it may dilute the company's profit margins.

Oxcap analyst Stuart Pearson told Bloomberg that while Luce's design may be hard for many to accept, it could help address the challenges Ferrari is facing in the Chinese market.

"The aesthetics of Luce are hard to swallow for many, including ourselves, but it could provide a solution for Ferrari's dilemma in China."

The pressure on the stock price is not only from the launch of the new car—Ferrari's stock has fallen by about 9% this year, retreating by approximately 40% from its high point at the beginning of 2025, and is currently trading close to 2023 levels. Goldman Sachs analyst Christian Frenes noted in a report earlier this month that Ferrari's hybrid models depreciate much faster than pure combustion models, indicating that buyers still prefer V8 and V12 internal combustion engines. This further intensifies the market's scrutiny of its electrification strategy.