Ferrari’s Luce EV, the company’s first electric car, is fully allocated for 2027. CEO Benedetto Vigna said every Luce Ferrari plans to build next year already has a buyer, even though the model drew mockery and broad criticism when it debuted in May.
Luce demand and delivery timing
The five-seater EV was designed by Jony Ive, Apple’s longtime design chief. It starts at about $615,000, and the first deliveries are expected to begin in the fourth quarter. Vigna said on Tuesday during Ferrari’s third-quarter earnings call that anyone arriving now would have to wait one year to get the cars.
Production volume and customer mix
Ferrari has never publicly disclosed how many Luce vehicles it plans to make. Financial Times reported earlier this year, citing unnamed sources, that the company planned to sell just under 500 units this year. Its longer-term target is 2,500 units by 2030, or about 600 a year, according to Financial Times. Vigna did not identify the buyers, but said the customer base is a good mix in terms of client and geography, and later said there is no specific pattern or demographic among Luce buyers.
Customizations lift Ferrari results
Ferrari’s existing lineup and demand for personalized options helped its third-quarter performance while Luce deliveries have not yet started. Revenue from customizations accounted for more than 21% of revenue from cars and spare parts, helping lift profits. The company also said deliveries of the F80, its limited-run hypercar, and customization reflect clients’ “ever-deepening desire” to make each Ferrari uniquely their own. Ferrari raised full-year guidance and now expects adjusted earnings of at least €3 billion ($3.36 billion), up from €2.97 billion.
Ferrari reported third-quarter revenue of €1.9 billion, up 7% from a year earlier, and net income of €431 million, up 13%. Operating profit was €563 million, with an operating margin of 29.7%, meaning the company kept roughly 30 cents of every dollar of revenue as profit from its core business.
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