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Ferrari's first electric car sells for $40M at auction, setting a new record for a new car sale.

Market News
17 Aug 2026
Proactive Investors
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Bullish
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Ferrari's first all-electric car, the Luce, sold for $40 million at a charity auction during Monterey Car Week, far exceeding its $1.1 million estimate. This sale set a new record for the highest price paid for a new car at auction, with proceeds going to educational initiatives. Despite initial backlash and a drop in Ferrari's stock after the car's unveiling, the auction's success signals strong demand for Ferrari's electric flagship. The car was part of Ferrari's Tailor Made program and featured a unique paint finish that changes color with light.

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