Ferrari’s first fully electric production car has sold for $40 million at a charity auction in California, setting a record for the highest price paid at auction for a new vehicle.
Ferrari Luce Sets New Auction Record
The custom 2026 Ferrari Luce was sold during RM Sotheby’s Monterey auction, a major event held alongside California’s annual Monterey Car Week.
Known as “Chassis 0,” the vehicle is the first production chassis from Ferrari’s Luce program. Its $40 million selling price was more than 36 times the auction house’s initial estimate of approximately $1.1 million.
RM Sotheby’s waived the buyer’s premium, allowing all proceeds from the sale to benefit the Ferrari Foundation, a recognized U.S. nonprofit. The money will support future educational initiatives.
The auction house did not publicly identify the buyer. The vehicle will return to Ferrari’s headquarters in Maranello, Italy, for final assembly before delivery, currently scheduled for the first quarter of 2027.
One-of-a-Kind Ferrari Features
Ferrari created the auctioned Luce through its Tailor Made customization program. The car features a unique Madreperla Semi-Gloss exterior with an iridescent pigment that shifts from green to violet depending on the angle and intensity of the light.
Its interior is finished in Perla Le Mans metallic leather with Grigio Corvara accents. Other exclusive details include specially designed wheels, custom brake calipers and a Ferrari emblem displayed against an optical-white background.
A dedicated plaque identifies the vehicle as the first production chassis in the Luce program.
RM Sotheby’s described the sale as an “unrepeatable opportunity” to acquire the first production example of Ferrari’s electric model. The auction house said the car represents a “tangible expression of innovation, responsibility, and long-term vision for future generations.”
Ferrari Enters the Electric Vehicle Market
The Luce marks Ferrari’s first entry into the fully electric vehicle market, placing the Italian luxury automaker in a rapidly developing sector led by companies such as Tesla and several Chinese manufacturers.
The four-door, five-seat model was developed with design input from LoveFrom, the creative collective founded by former Apple design chief Sir Jony Ive and designer Marc Newson.
Powered by four electric motors, the all-wheel-drive Luce produces more than 1,000 horsepower. Ferrari says it can accelerate from zero to 62 mph in approximately 2.5 seconds.
The model represents a significant departure for a company whose identity has long been closely associated with high-performance gasoline engines and two-seat sports cars.
Luce Faced Criticism After Its Debut
The Luce received a divided response following its public unveiling in May. Some Ferrari enthusiasts and automotive commentators criticized its larger body, five-seat layout and battery-electric powertrain, arguing that the model moved too far from the brand’s traditional image.
Ferrari shares also declined following the launch amid broader questions about demand for high-priced electric vehicles.
Among the critics were Italian Deputy Prime Minister Matteo Salvini and former Ferrari Chairman Luca Cordero di Montezemolo, who said the company was “risking the destruction of a legend.”
Ferrari Chief Design Officer Flavio Manzoni defended the project, saying criticism is part of the innovation process and expressing confidence that the public would eventually appreciate the Luce.
Sale Surpasses Ferrari’s Previous Charity Record
The $40 million result exceeded the previous auction record for a new car, established in 2025 when a customized Ferrari Daytona SP3 sold for $26 million to support the automaker’s educational initiatives.
Ferrari vehicles regularly command some of the highest prices in the collector-car market. However, the overall record for any automobile sold at auction remains the $142 million paid in 2022 for an ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé.
The record-setting Luce sale underscores the strength of Ferrari’s appeal among collectors, even as the company moves beyond its traditional combustion-engine heritage and begins a new chapter in the electric vehicle market.
Ambrose Sherman writes for Hardwood Paroxysm, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear reporting, current affairs, and stories that matter to readers, providing reliable information in an accessible and engaging way.
