Ferrari navigates luxury market shift toward electric vehicles

Ferrari is pursuing a dual strategy in the luxury automotive market, balancing high-consumption internal combustion engines with its new electric model, the Luce. Despite criticism from former president Luca di Montezemolo regarding the Luce's design and branding, CEO Benedetto Vigna has defended the launch, noting the company's satisfaction with its performance.

The Luce, designed by former Apple designer Jony Ive, has seen significant commercial success. Despite an 8% drop in Milan stock exchange shares following internal criticism, the model reached an internal sales target of nearly 500 units by July, with base prices starting at 550,000 euros. Demand has been particularly strong in California and among younger, wealthy demographics in China and Silicon Valley.

In contrast to the electrification push, Ferrari continues to produce high-performance gasoline models. The Purosangue, featuring a 6.5-liter V12 engine, remains a notable example of high-consumption luxury, with a homologated consumption of 17.3 l/100 km and a price exceeding 400,000 euros in Spain.