Much to the relief of the beady-eyed Ferrari 612 Scaglietti, the famous Italian brand has introduced the all-new Luce. It’s pronounced “loosay” in the kind of voice you’d use if you were trying to make amorous advances on a British girl named Lucy.
The Ferrari Luce is exactly what we expected, but also not. It has four electric motors for a combined output of 1,035 horsepower and 730 lb-ft of torque, which gets it to 62 mph in 2.5 seconds and on to a top-speed of 192 mph. And thanks to a 122 kWh battery pack, it weighs 4,982 pounds, which makes it the heaviest car to ever wear the Prancing Horse badge by roughly 200 lbs. That gives the Luce access to roughly 452 hp per ton, which puts it in the same league as the famous Ferrari F40 (433 hp per ton).
Ferrari Luce designed by Sir Jony Ive.Ferrari
Combine the above with all of Ferrari’s advanced technology, and you have something with the potential to be truly magnificent… but then the covers came off. Suddenly, the 612 Scag wasn’t the ugliest modern Ferrari anymore. To me, the front end of the Luce looks like a melted previous-generation Dodge Charger, and the rear end looks like a Nissan Leaf.
The internet is in agreement. Some of the best comments I’ve seen are: “looks like a beach shoe, Teslarossa, Ferrari Multipla, and the first Ferrari designed by Fisher Price.” My personal favorite called it the “Ferrari GTFO”.
But here’s the thing. As much as you like or dislike this car, it’s already a guaranteed success. Many are saying that this is Ferrari’s Jaguar moment (referring to the brand’s hilariously awkward debut of the Type 00 Concept), and that Enzo Ferrari is spinning in his grave. I’m sorry, but you’re wrong on both counts.
Enzo Ferrari Is Not Spinning In His Grave
Enzo Ferrari, a racing driver who won the very first Grand Prix he competed in (in an Alfa Romeo), built his empire on the back of a successful racing pedigree.Ferrari
According to keyboard warriors, Enzo has been spinning in his grave since at least 2008. That’s when Ferrari introduced the California, which had a power-folding roof, and was secretly a Maserati underneath. He started spinning fiercely again in 2011 when Ferrari introduced the FF, which had all-wheel drive. And in 2023, Ferrari started producing an SUV, and the poor old man hasn’t stopped spinning since. At the rpm he’s currently doing, you could use Il Commendatore to generate enough power to fill that 122 kWh battery in 15 minutes.
Or not, because I can guarantee you that Enzo Ferrari doesn’t care. Ferrari famously despised the road car department. It simply existed to fund his racing habits. Since 1969, Enzo had total control over Scuderia Ferrari, while bigwigs from Fiat controlled the management of road cars.
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As long as the road car department wrote Enzo a big fat check to fund the Formula 1 team, he couldn’t care less what they did. He would have loved the Purosangue and Luce, because these cars would mean even more money to fund even more motorsport endeavors.
Sure, we love the idea of Ferrari signing off on road cars, but I truly believe that him signing off on stuff from that side of the business was a romantic marketing tactic. People loved the idea of Il Commendatore being involved in some way, much like a lot of the appeal of a GMA product is tied to the legend of Gordon Murray. The difference is that Gordon Murray truly cares about the cars he puts out.
I’m not saying Enzo Ferrari didn’t take pride in the cars that carried his name, but rather that he would have been a big fan of how the brand does business these days. What most people don’t understand is that Ferrari is not in the car-making business. It’s in the luxury goods business, and access is strictly controlled.
Ferrari Is Worth More Than Any Of Its Rivals
Ferrari F80. Formula 1. F1. Charles LeClerc. Lewis HamiltonFerrari
At the time of writing, Ferrari’s market capitalization (the current share price multiplied by the total number of shares outstanding, which oddly refers to the number of shares held by investors) was $56.71 billion. Yes, the stock price dropped by 8% and then it started going up again a day later after everyone got over the shock. Here’s the part everyone left out. The stock price on the 26th, after the unveiling, wasn’t even at its lowest for the month of May. And the price never fell below where it stood for the entire 2022 to 2023 financial year.
That’s impressive considering it only sold 13,640 cars in 2025. Unfortunately, we can’t make a direct comparison with Lamborghini because it is privately owned by the Volkswagen Group. McLaren’s road car division is wholly owned by an Abu Dhabi-based investment firm.
The only direct comparison, then – and it’s wonky at best considering it delivered 279,449 cars last year – is Porsche. Porsche’s market capitalization fluctuates between $45 billion and $49 billion depending on the strength of the Euro.
Considering it built just 13,640 cars last year, Ferrari is worth more than many other brands. Examples include BMW, Mercedes-Benz, Kia, Honda, Stellantis, Mazda, and Volkswagen. There are only six brands more valuable than Ferrari, and not a single one of them is in the supercar business. Ferrari is the only boutique manufacturer worth more than all Germany’s most famous brands.
The Luce Will Be A Smash Hit, Whether You LIke It Or Not
Ferrari Luce designed by Sir Jony Ive.Ferrari
Ferrari Luce
Motor
4 x Electric motors
Power
1,035 hp
Torque
730 lb-ft
0–62 mph
2.5 seconds
Top Speed
192 mph
To understand why the Luce will be a hit, we need to understand how Ferrari does business. The first thing to remember is that the brand has unmatched heritage, and that’s something Enzo Ferrari can take credit for. Automotive CEOs aren’t often the central focus of Hollywood films, but Ferrari played a central role in Ford V Ferrari, Ferrari (the brilliant 2023 biopic starring Adam Driver), and in Lamborghini: The Man Behind the Legend. Thanks to Enzo Ferrari and his love of racing, the brand has been a part of F1 racing since the modern era started in 1950. No other brand can say the same.
This prestige gives Ferrari the power to build luxury performance vehicles with massive profit margins. To give you some idea of how high those profit margins are, Toyota has to sell 65 cars to make the same profit Ferrari makes from one car. The profit margin on a high-volume car is between 1 to 3%. In the luxury segment, it’s between 3% to 5%. And Ferrari? It has the same sort of profit margin as the elite fashion houses like Gucci, Dior, Prada, Hermes, and Versace. That’s 25%, in case you were wondering.
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This profit margin goes up even further once you dive into the Ferrari Tailor Made options. Want a Ferrari Amalfi in the same shade of purple as your favorite flower? They’ll happily do that – for a price. What they won’t do is paint a car a tasteless color for prancing on YouTube. By now you must have heard about Ferrari’s infamous Blacklist. The Prancing Horse will not hesitate to send its lawyers after you, even if you decide to paint a car you 100% own a funky color.
Ferrari will protect its image at all costs, even if it means upsetting the masses. To us, it makes no sense that a company could come after you for modifying a piece of property you own. But Ferrari will come after you if you do something it deems as plebeian. To me, it’s utterly ridiculous, but it makes perfect sense to the tiny, carefully curated list of Ferrari buyers.
The Club Of Deliberate Scarcity
The Ferrari Purosangue has proven so popular, Ferrari decided to close the order book until further notice.Ferrari
We’ve all heard rumors of how Ferrari operates when it comes to its cars. In order to secure a build slot for a Ferrari F80, you need to own at least a Ferrari Enzo, Ferrari LaFerrari, and at least one example of the lesser Ferraris currently on sale. Ferrari says it won’t force members of the club to buy a Luce in order to qualify for the tastier items on the menu, but I simply don’t believe that. If there’s only one F80 slot left open, is Ferrari going to give it to the guy with an F40, F50, Enzo, and LaFerrari, or the guy with all those cars who is also willing to put down $500,000 for a Luce?
Ferrari is also brilliant when it comes to production numbers. Many people thought Ferrari sold out when it built the Purosangue, but out of all the high-end SUVs available, it’s the only one holding value. Why is that? Well, Ferrari doesn’t need to build an SUV in the same way Porsche does. Porsche can’t survive without the money made by its SUVs, while Ferrari caps Purosangue production at 20% of its annual output.
2023 Ferrari Purosangue from rear 3/4Ferrari
That’s Ferrari’s party trick. It always builds fewer cars than the market demands. At the moment, Aston Martin builds as many DBXs as it can because it accounts for nearly half of its business. Ferrari caps the Purosangue at 20% because that’s how you keep values high. When it came out in 2023, the DBX 707 cost $207,680 without options. The average asking price has dropped to $171,510, and you can easily find mint models for as low as $150,000. The same thing happened to the Lamborghini Urus, though the lesser-spotted Performante holds its value better. The $225,000 Urus has dropped to an average value of $150,000 to $170,000.
The trick will be to calculate exactly how many it will need to build, and slice that figure by 10%. That will keep Luce values steady, and Ferrari customers and board members happy.
Who Will Buy This Thing?
Ferrari Luce interiorFerrari
Not me, that’s for sure. Firstly, I don’t have the money for a $500,000 Ferrari, and if I did, I would spend it on a 458. Also, it’s hideous to look at. I’ve heard jokes that this is what the Apple Car was supposed to look like, and given the connection to Sir Jony Ive, there might be some truth to this. Look what he did with the iPhone. Because of Ive, we now all have a small black mirror in our pockets. I do love the interior of the Luce, though, and I hope to see that in many other upcoming Ferraris. I also hope more mainstream brands “borrow” some ideas.
I do think there are enough customers for this car. Elon Musk proved that you can get people to buy a pickup truck inspired by a dumpster, so there’s that. Speaking of Musk, there have been loads of comments about how a Model S Plaid is a better car at $80,000. I agree with that. But the Plaid is not a Ferrari, and that’s not how rich people buy things. They don’t buy one thing instead of another. They buy a car in addition to other cars.
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This is also the first properly high-end five-seat EV, and it appears to be more spacious and practical than even the Purosangue. I can totally see this parked just off to the side of any decent Ferrari collection, sucking up volts from a home charger.
Then there’s tech bros and virtue signaling celebrities. To date, they’ve only had the Tesla Model S Plaid, which has now gone out of production. The Luce has arrived just in time to show the world that, while you are stinking rich, you do care about the environment.
After all, Ferrari curates its image and value very carefully, so we should expect nothing less from their customers.
