Investors react to the Ferrari Luce EV; shares fall more than 8% in Milan

Ferrari's shares plunged more than 8% this Tuesday (26), as investors and critics reacted to the Italian luxury sports car maker's new Luce electric car, questioning whether it stayed true to the brand's identity.

The four-door, five-seat family car, which costs €550,000, represents a radical change for the brand. It was developed with help from former Apple design director Jony Ive and his LoveFrom collective.

Ferrari shares listed in Milan closed down 8.4%, while shares listed in New York fell more than 5%.

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Fabio Caldato, portfolio manager at AcomeA SGR, which holds Ferrari shares, told Reuters the stock's reaction reflected broader market concerns. "Ferrari is being penalized for an aesthetic disappointment, which adds to significant concerns about expanding the range to include electric models," he said.

Many of the comments on social media were also negative, with the appearance of the vehicle being criticized.

"It doesn't look anything like a (Ferrari). Is that what counts as 'innovation'? Who knows what (company founder) Enzo Ferrari would say," wrote Italian Deputy Prime Minister and Transport Minister Matteo Salvini in X.

Top Cifras

Toque agora.

1 Cachaça, Mulher e Gaia Cavaleiros do Forró

2 Total Eclipse Of The Heart Bonnie Tyler

3 C Ao Único Corinhos Evangélicos

4 Natural Anton Ewald

Electrical, very expensive (550 thousand euros!) and, from one point of view aesthetic, if you comment on the sole... Sembra tutto fuorché un'auto del Cavallino. And what about this "innovative" sarebbe? Chissà Enzo Ferrari cosa direbbe... pic.twitter.com/zITSlz1a9j

- Matteo Salvini (@matteosalvinimi) May 26, 2026

First fully electric car
Presented on Monday night (25), the Luce marks Ferrari's entry into the fully electric vehicle segment, an important milestone for a luxury car manufacturer traditionally associated with high-performance combustion engines and their characteristic sound.

Luca Cordero di Montezemolo, who held various leadership roles at Ferrari for more than 20 years before a turbulent departure in 2014, declared the new model a betrayal of Ferrari's history.

"I hope they remove the prancing horse (logo) from that car," he said on the sidelines of a business conference in Rome.

Focus on China
The Luce, whose name derives from the Italian word for "light", is expected to begin shipping in the fourth quarter. It is aimed at new markets, including China, where electric vehicles represent a growing share of premium car sales.

Ferrari is also targeting a new generation of wealthy buyers, including technology entrepreneurs in hubs like Silicon Valley, looking to broaden its appeal beyond its traditional customer base.

"We maintain a rational stance and assume that this new product can attract a niche market of customers," said Caldato, from AcomeA.

Ferrari buyers typically own more than one Ferrari vehicle, reflecting a wealthy, collector-oriented customer base.

The cool market reaction highlights the risks Ferrari faces as it tries to preserve exclusivity and pricing power while navigating a broader industry shift toward electrification.

Luxury automakers continue to face uncertainty regarding demand for high-end electric vehicles. Ferrari last year postponed plans for a second electric model to at least 2028, according to Reuters.

Source: CNN