Ferrari's first electric car sells for $40 million at charity auction

Ferrari's first electric car sold for $40 million at a charity auction in California in August 2026. The car, called the Luce, went under the hammer at Monterey Car Week through RM Sotheby's. Buyers had expected it to sell for around $1.1 million, so the final price was about 36 times higher. It was the very first Luce built, and its design involved Jony Ive. The sale broke a record set just one year earlier, when a customised Ferrari sold at the same event for $26 million. Ferrari revealed the Luce in May 2026, and many people criticised it because it uses an electric motor instead of a traditional engine. The company's stock price fell after that announcement. The auction result suggests that buyers are now very interested in the car.