They finally showed it. The Luce.
It’s the first Ferrari with five seats. It’s their first electric car. It is also the first time in decades Ferrari handed the steering wheel of their soul to someone outside the factory gates. The stock market looked at this new chapter and promptly voted with its feet. Down it went. Hard.
The Numbers Don’t Lie
Milan-listed shares dropped 8.4%. New York-listed ADRs fell 5.1%. Steep. Brutal. Some might say “overreaction” but investors saw what we did in the comment sections.
They just don’t like the way it looks.
“The sharpest reaction we’ve seen for a car design.”
An analyst told CNBC. It sounds dramatic but panic is real when development costs eat margins. Everyone knows EVs are money pits right now. Giants are already pulling back. Ferrari betting the farm feels risky. Or stupid. You decide.
The IVE Problem
Ferrari skipped their usual design chief Flavio Manzoni. Instead they called Jony Ive. Yes that Jony Ive. The iPhone guy.
LoveFrom Studios got the contract. The result is the Luce—Italian for light. It isn’t a Ferrari in any traditional sense. Social media tore it apart instantly. Critics call it a Honda Accord mated with a Tesla Model 3. There is zero DNA here that screams Maranello. It’s smooth. It’s safe. It’s boring.
Underneath that bland exterior sits some serious tech though. A quad-motor setup pumps out 1,035 horsepower. 0 to 62 miles per hour in 2.5 seconds. Top speed 193 miles per hour. It’s fast. Fast cars don’t care how ugly they look on a spreadsheet. But pricing starts above €520,00. That’s nearly $600,000 before you buy any options. For five seats.
Emotion Over Engines?
CEO Benedetto Vigna has a philosophy. He says emotion matters more than engine noise. He wants to “respect the technology.” Noble.
Maybe.
But rivals are waking up to a different reality. Porsche and Lamborghini already scaled back aggressive EV targets. Demand was soft. Too soft. Why would Ferrari succeed where others faltered?
The market isn’t amused. Investors are voting with their wallets. Jony Ive gave them a sculpture. Ferrari needs a car. Only time will tell if this gamble pays off.
