Ferrari's first electric car, the Luce, sells for record $40 million at Monterey auction
Ferrari's first all-electric vehicle, the Luce 'Chassis 0,' sold for $40 million at RM Sotheby's during Monterey Car Week on August 15, setting a world record for a new car at auction. The entire proceeds will go to the Ferrari Foundation for educational programs.
Record auction at Monterey
Ferrari's first all-electric vehicle, the Luce "Tailor Made" identified as "Chassis 0," sold for $40 million at an RM Sotheby's auction during Monterey Car Week in California on Saturday, August 15. The figure sets a new world record for a new car sold at auction, surpassing the $26 million fetched by a Ferrari Daytona SP3 Tailor Made at the same event in 2025. Bidding opened at $1 million before climbing rapidly to the final amount. The Luce was not even the most expensive vehicle sold during this year's Monterey Car Week: a 1964 Shelby Daytona Coupe fetched nearly $43 million, according to Hagerty.
- 2025 Daytona SP3 Tailor Made
- 26 $M
- 2026 Luce 'Chassis 0'
- 40 $M
- 1964 Shelby Daytona Coupe
- 43 $M
The car and its design
The Luce is Ferrari's first fully electric production car, developed and manufactured in Maranello. It features a quad-motor system with one motor per wheel, delivering over 1,000 horsepower. The vehicle accelerates from 0 to 100 km/h in approximately 2.5 seconds and reaches a top speed of 310 km/h. A 122 kWh battery provides a range exceeding 530 km, with charging support up to 350 kW. The car was designed in collaboration with LoveFrom, the studio founded by Jony Ive, Apple's former design chief and a key figure behind the iPhone and iMac. The auctioned "Chassis 0" features a Madreperla semi-gloss iridescent finish, a black canopy roof, and an interior with Le Mans metallic leather in Perla made from carefully selected Swiss hides. Ferrari priced the standard Luce at roughly €550,000 ($640,000) when it unveiled the model in May 2026.
- Ferrari unveils the Luce, its first all-electric vehicle, priced at roughly €550,000
- Ferrari replaces its chief marketing and commercial officer amid sustained criticism of the Luce
- Luce 'Chassis 0' sells for $40 million at RM Sotheby's Monterey auction, a record for a new car
Controversy and market reaction
The Luce's reveal in May drew criticism from brand purists and coincided with a drop in Ferrari's share price. Former Ferrari president Luca di Montezemolo expressed disapproval, stating the model risks the destruction of a legend and suggesting the brand should remove its badge from the car. Ferrari F1 drivers Lewis Hamilton and Charles Leclerc participated in the promotional rollout, revealing and driving the vehicle. The company replaced its chief marketing and commercial officer in July. Despite the criticism, Ferrari's second-quarter financial report showed a 10% increase in profit and a full order book through 2027. EBITDA rose to €2.97 billion in 2026 from €2.77 billion in 2025, and the company raised its full-year guidance, driven by demand for limited-run models like the F80 and a more expensive version of its Purosangue four-seater.
Proceeds for education
The entire $40 million from the sale will be donated to the Ferrari Foundation, a 501(c)3 nonprofit whose mission includes raising awareness of transverse myelitis, a form of spinal cord inflammation. The funds will support educational initiatives in the United States and abroad. Key projects include the M-TECH Alfredo Ferrari training center, set to open in Maranello in 2029, a collaboration with Save the Children to rebuild the Aveson Charter School after the 2025 California fires, and after-school reading and math programs in low-income areas of east Texas and southern Florida. The foundation also partners with the Second Round Foundation, co-founded by three-time NBA All-Star Jalen Brunson, focused on education in disadvantaged urban areas of New York City.
CEO Benedetto Vigna said in May that the model was attracting orders from both existing and new customers.
The Ferrari Luce has nothing to do with electric cars you have seen from other players. You have to see it and drive it to understand that it wasn't copied -- not the interiors, not the exterior, not the performance.
