The Luce is out. The stock tanked.
Wall Street just took one look at Ferrari’s inaugural electric vehicle and shrugged. Not a warm wave. Not an enthusiastic applause. Just a hard exit.
Shares dropped 4.6 percent in US trading early Tuesday. Year-over-year? Down 30.2 percent. In Milan the dip was sharper initially, around 8.1 percent. By Wednesday morning the slide continued at 5.3 percent. Investors hate this new direction. Or at least they hate paying for it.
Jony Ive designed it. Really. The former Apple chief, through his firm LoveFrom, handled the exterior and interior. It looks nothing like a Ferrari. It’s a five-passenger grand tourer with a name that translates to “Light” in Italian. That radical break from tradition is exactly why the market is recoiling.
“Fans are disappointed that Ferrari is embracing EV concept… believing it dilutes the super car brand”
Michael Field, Morningstar
He’s right. Core buyers smell betrayal. They want roar. They want V12. They don’t want silence. On the other side of the table analysts like Anthony Dick at Oddo BHF called it the furthest deviation from the brand’s ethos in history. Investors react to perceived risk. High R&D costs for an EV model spook them even more.
Ferrari CEO Benedetto Vigna disagrees with the panic. He sees this as a “new chapter.” He claims the Luce will pull in new buyers while keeping the old guard satisfied. It’s an ambitious hope.
Is this actually what enthusiasts want to buy?
Probably not. The Motor1 take was blunt enough: this car is for a different era. Combustion, electric, or hybrid—Ferrari is trying to cover all bases. That’s smart business strategy maybe. It makes terrible marketing copy for people who bought their first red car forty years ago.
The door is open now. You can step inside the Luce or keep your keys in your pocket. Ferrari isn’t waiting.
