Ferrari Luce EV sells out in China despite backlash

Ferrari’s first all‑electric production sedan, the Luce, was launched in May 2026 and allocated 88 units for the Chinese market. All of these examples were reportedly snapped up within hours, despite widespread criticism of the model’s understated design and departure from Ferrari’s traditional V8/V12 heritage. The Chinese retail price was 3,988,000 yuan (about $586,600), roughly 7 % lower than the European price.

The rapid sell‑out contrasted with a sharp drop in Ferrari’s share price after the launch and sparked a reshuffle at the company’s top of commercial leadership. Marketing chief Enrico Galliera left the firm a month after the debut and was replaced by former BMW Italy executive Massimiliano Di Silvestre. Dealers in China say new orders can still be placed, but a deposit of several hundred thousand yuan is required and delivery is expected to start in the third quarter of next year.

The Luce’s success highlights the importance of exclusivity and brand prestige for China’s ultra‑high‑net‑worth buyers, who view the vehicle as a status symbol worth “4 million RMB on wheels.” Competitors such as BYD’s Yangwang U9 and GAC’s Hyptec SSR offer higher performance at a fraction of the price, yet the Ferrari remains a niche luxury purchase driven more by heritage than specifications.