Ferrari Luce
Ferrari
Ferrari shares have stabilized after its first electric vehicle’s surprising styling spooked investors. Analysts are mostly positive about the impact the Luce will have on the Italian supercar maker’s ability to make profits typical of a luxury goods manufacturer, rather than the typical metal- bashing automakers’ struggle to stay in the black.
The launch was also seen as an important pointer to how luxury performance brands like Lamborghini and Aston Martin handle the transition to EVs.
When new Ferraris are unveiled, the descriptions usually run along the lines of how irresistible, sexy and drop-dead gorgeous the machine is. The Luce ran up against all these precedents with its smooth, understated looks, prompting a more than an 8% dive in the price of the shares and cries of anguish from traditionalists.
Former Ferrari chair Luca di Montezemolo said Ferrari risks destroying a legend, but at least the Chinese won’t copy it. “I hope they at least remove the prancing horse (logo) from that car,” he said. Italian Transport Minister Matteo Salvini said the Luce was “anything but a Prancing Horse car”. One critic said the Luce looked more like a mass-market Nissan Leaf, maybe the nicest thing ever said about the car which started the move towards mainstream EVs.
The Financial Times Lex column said the negativity around the new Luce was overdone.
“Pundits may be right or wrong about the commercial appeal of the Luce. But investors’ reaction was miles off track. Ferrari’s valuation, which has come back to earth with a bump over the past year, stacks up even if the Luce turns out to be a dead end, and even if the sports-car maker never figures out a workable electric vehicle strategy. Its new venture is therefore an option with limited downside,” Lex said.
Ferrari Luce
Ferrari
Ferrari’s shares have fallen about 30% over the past year, with the biggest dive coming last October when the company provided profit estimates which investors interpreted, wrongly, as a signal the long-established era of super profits might be ending. Investors had become used to the company providing conservative estimates which it easily exceeded. The shares have stabilized since January and have been fluctuating around €330. On Tuesday, the shares in Europe closed up nearly 2% at €304.30.
Berenberg Bank of Germany said even though the Luce represented an enormous gamble, the Luce didn’t need to sell all that many to succeed.
“With most analysts modelling fewer than 1,000 units, Ferrari only needs to capture a small number of open-minded wealthy buyers to meet estimates,” the bank said in a report.
Ferrari sells about 14,000 vehicles a year.
“We are inclined to ignore the social media noise and focus on dealer and customer feedback over the coming weeks; we currently see no reason to change our view on the fundamentals of the investment case (for Ferrari),” the bank, which rates Ferrari a “Buy”, said.
The bank wasn’t sure about its 2027 forecast for Luce.
“Prior to the unveiling, we were modelling 25 shipments of the Luce in Q4, 2026 and 1,000 for 2027, compared with 2.5 to 3,000 for the next lowest volume range model. It is still too early to determine, but the immediate feedback after the launch suggests increased downside risk for our 2027 shipment forecast,” the bank said.
Investment bank UBS also felt the initial controversy surrounding the launch was a false flag. It believed EVs would be a complementary extension to the range rather than a fundamental shift.
“We believe a more gradual evolution of the brand may be preferable to a step-change transformation, particularly given the risk of less favorable customer reactions to future launches. With a broader pipeline ahead (three new launches in 2026), we expect Ferrari to continue balancing new customer acquisition with its disciplined, scarcity-driven strategy,” UBS said in a report.
The 1966 Ferrari 330 P3/4, driven by legends Chris Amon, Pedro Rodriquez, John Surtees. It was the winner of 1967 24 Hours of Daytona race. It was raced at 24 Hours of Le Mans 1966 and 1967.
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“Importantly, from a margin perspective, the Ferrari Luce appears in line with other Range models. While Ferrari has not disclosed specific volume targets, we expect the product lifecycle to be consistent with a typical Range model, at around 4–5 years,” UBS said. UBS rates Ferrari “Buy”.
Professor David Bailey of the Birmingham Business School isn’t sure if the Luce will be a success and it has some hurdles to cross.
“The real question here is whether Ferrari can preserve its emotional appeal in an electric age. The company must convince buyers that excitement does not depend entirely on engine noise. Instead, it will need to create new forms of engagement through design, performance, technology and driving dynamics. This challenge is not unique to Ferrari. Every luxury and performance manufacturer faces the same issue as the automotive industry evolves,” Bailey said.
“What is certain is that Ferrari’s first EV marks one of the most important moments in the company’s history. The success or failure of this model could influence not only Ferrari’s future but also how other luxury performance brands approach the transition to electric vehicles,” Baily said.
Meanwhile, Ferrari published the 5-seater Luce’s basic specifications, some of which are –
Power – 1,050 hp
Torque – 990 Newton metres
Acceleration – 0-60 mph 2.3 seconds
Top speed – 193 mph
Range - 329 miles
Battery – 122 kWh
Weight – 4,982 pounds
Price – from $650,000
How will range react to relatively high-speed autoroute cruising? According to ChatGPT calculations, at a steady 80 mph, the Luce will shed about 32% of range, cutting it to 225 miles. At about 90 mph on an unlimited German autobahn the range will be cut by about 44% to around 185 miles, according to ChatGPT.
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