Ferrari's first ever electric car sold for record $40m at auction

What the report says

Ferrari’s first all-electric car, the Luce, has been sold at a Sotheby’s charity auction in California for $40m, a record price for a new car sold at auction, according to BBC World News. The sale brought in more than 35 times the model’s typical price and was described by Sotheby’s as a special edition with unique finishing and bespoke components. The buyer was not identified.

The car, which was unveiled in May, was designed with input from Sir Jony Ive, the iPhone designer, and marked Ferrari’s entry into the electric vehicle market. BBC World News reported that the launch attracted criticism from some commentators who said the car departed from Ferrari’s traditional styling and character. The backlash was also said to have included criticism from figures such as Ferrari’s former chairman and Italy’s deputy prime minister.

Sotheby’s said the proceeds will go to the Ferrari Foundation’s educational programmes. The auction house framed the sale as a notable opportunity to own the first production version of the Luce, while Ferrari’s move into EVs places the brand in a field led by Tesla and major Chinese automakers. The high-profile debut also drew attention from political and religious leaders, with Italian President Sergio Mattarella and Pope Leo invited to view the car, BBC World News reported.