Ferrari's Jony Ive-designed model was mocked by the internet, but it's selling like hotcakes

Key Points:

• Ferrari's electric vehicle, the Luce, is on track to meet its long-term sales goal of 2,500 units by 2030, having already approached its 2026 target of 500 units within two months of release.
• Despite initial criticism for its unconventional design and four-door layout, the Luce targets wealthy Chinese and Silicon Valley buyers familiar with EVs, with Ferrari advising dealers not to pressure traditional gas-powered customers to switch.
• CEO Benedetto Vigna expressed satisfaction with order progress, as Ferrari reported strong Q2 revenue of €1.94 billion ($2.2 billion) and raised its full-year revenue outlook to €7.6 billion ($8.7 billion).
• The positive sales news contrasts with declining EV market share in the U.S., where new EV sales dropped significantly after the removal of federal tax credits, and competitors like Lamborghini have scaled back EV plans due to weak demand.
• Ferrari has revised its EV ambitions, now aiming for 20% of its lineup to be electric by 2030, down from an earlier target of 40%, yet its order book remains full through 2027, boosting investor confidence with a 3% rise in share price.