The Italian luxury carmaker’s first electric car has set a record for a new vehicle sold at auction, just months after its unveiling drew backlash.

A bespoke Ferrari Luce, the luxury carmaker’s first EV, has fetched $40 million (€34.5 million) at a charity auction held by RM Sotheby’s in the US.

The sale set a record for the highest price paid for a new car at auction and far exceeded RM Sotheby’s pre-sale estimate of more than $1.1 million (€950,000).

The auction took place nearly three months after Ferrari unveiled its first fully electric model in May. Priced at €550,000, the car drew a fierce backlash, largely over its design, which was created by LoveFrom, the creative collective founded by Sir Jony Ive and Marc Newson.

The model features four electric motors, with one powering each wheel, and has a maximum output of 1,050 horsepower. It can accelerate from zero to 100 km/h in 2.5 seconds and reach a top speed of 310 km/h. Its 122 kWh battery offers a claimed range of more than 530 km, according to the carmaker.

Ferrari shares fell sharply after the unveiling, but have since recovered after the company raised its full-year guidance last month, posted strong earnings and said orders for the Luce were progressing in line with expectations.

The Prancing Horse has since regained some of its shine: Ferrari’s share price has risen by about 27% from its closing level of €284.05 in the first trading session after the Luce was unveiled on 25 May.

The car sold during Monterey Car Week in California at the weekend was identified as “Chassis 0”, the first production chassis in the Luce programme. It was specially customised to create a unique collector’s model.

A bespoke Ferrari Daytona SP3 raised $26 million at auction in 2025, setting the previous record for the highest price paid for a new car at auction.

Ferrari will donate all proceeds from the latest sale to the Ferrari Foundation to support its educational initiatives, according to the auction house.