Ferrari’s first fully electric car, the tailor-made Luce, sold for $40 million (approximately ₹382.44 crore) at a charity auction during Monterey Car Week in California over the weekend, according to livemint.com. This sale set a new record for the most expensive new car ever sold at auction, surpassing the previous record held by a customised Daytona SP3 sold for $26 million in 2025.
The auction was conducted by Sotheby’s, and Ferrari confirmed the sale while noting the model faced criticism. The identity of the buyer was not disclosed. The Luce’s sale highlights Ferrari’s entry into the electric vehicle market with a high-profile, bespoke model that attracted significant attention during the event in California, a key location for luxury car auctions.
This record-breaking sale underscores growing demand for luxury electric vehicles and Ferrari’s strategic move to expand its portfolio beyond traditional combustion engines. The $40 million price tag exceeds the previous Daytona SP3 record by $14 million, marking a significant milestone for electric vehicles in the collector car market. Ferrari shares had gained 1.4% in Milan on Monday, supported by strong demand for high-priced models including the $3.6 million F80 hybrid.
The sale took place during Monterey Car Week, an annual event that draws collectors and enthusiasts worldwide. Ferrari’s first fully electric car now holds the auction record for a new car, reflecting the brand’s evolving focus on electric mobility and luxury. Ferrari’s stock has risen 13% so far this year, boosted by interest in its hybrid and electric models.