Ferrari’s first electric car is already spoken for through 2027. Chief Executive Benedetto Vigna said on the company’s third-quarter earnings call on Nov. 3 that the Luce’s 2027 production is fully allocated, and that any new customer would face a wait of about a year. The car starts at roughly $615,000.
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The sell-out lands after a rough debut. When Ferrari revealed the five-seat sedan in May, with interior and exterior styling by Jony Ive, the reaction was widely negative and the company’s shares dropped. Vigna’s remarks suggest the criticism has not touched order books, which matters for a brand that sells exclusivity first and speed second.
Benedetto Vigna on the Luce order book
TechCrunch reported Vigna’s comments from the call, quoting him as saying “If someone comes, he has to wait one year to get the cars.” He described a good mix of clients and geography among buyers and did not point to any single demographic. First deliveries of the Luce are expected to begin in the fourth quarter of 2026, so the allocation covers the car’s first full year on sale.
Ferrari has not disclosed how many Luces it plans to build. The Financial Times reported, citing unnamed sources, a plan to sell just under 500 units this year and a target of 2,500 by 2030, according to its coverage of Luce volumes. Those are unconfirmed figures, and a limited run is part of how Ferrari protects resale values.
Reading the remark carefully matters. Vigna’s wording describes allocation, meaning Ferrari has assigned every car it intends to build for 2027 to a client, rather than a count of signed contracts or deposits. Sold-out claims from luxury makers are common and hard to audit, and Ferrari has not released order numbers. What can be said is that the company’s chief executive made the statement to analysts on an earnings call, where misstatements carry legal weight, and that Ferrari left its full-year guidance higher rather than lower after the call.
From May’s mockery to November’s order book
In its coverage of the May debut, TechCrunch’s weekly mobility column argued that public dislike would not matter if the customers who count still placed orders. Vigna’s comments give that argument its first hard evidence, because a $615,000 price is aimed at a small group of existing Ferrari clients rather than at the broader public that mocked the design.
The commercial logic is straightforward. Ferrari builds fewer cars than there are people who want them, and it has said before that it prefers to keep waiting lists long. An electric model priced at about $615,000 extends that approach to buyers who may never have owned a gas-powered Ferrari, and a sold-out first year lets the company claim demand without cutting prices or adding capacity. Sold-out status also removes pressure on Ferrari to explain the car’s looks. Vigna’s comments to analysts, as TechCrunch relayed them, were that criticism had not dampened demand, and the company’s next test is whether deliveries starting in the fourth quarter match the enthusiasm shown by the order book.
Jony Ive, Apple’s longtime design chief, is the name most tied to the car’s look, which is part of why the May reaction was so pointed. The five-seat layout and the designer credit give the Luce a public profile far above its likely production volume, and that attention may itself help demand among clients who like owning a talking point.
Third-quarter results behind the call
The earnings themselves were strong. Ferrari reported third-quarter net revenues of €1.9 billion, up 7 percent, net income of €431 million, up 13 percent, and an operating margin of 29.7 percent, with customization making up over 21 percent of car and spare parts revenue. The company shipped 3,368 cars in July through September, 33 fewer than a year earlier, and lifted its full-year adjusted earnings guidance to at least €3 billion from at least €2.97 billion, a marginal raise it credited to personalization sales, as TimesLIVE reported. The full figures sit in Ferrari’s third-quarter results release.
Customization is the quiet engine of those margins, and it is likely to matter for the Luce as well. A buyer paying more than half a million dollars is typically offered wide choices in paint, interior materials and trim, and Ferrari books that personalization as high-margin revenue. With personalization above 21 percent of car and spare parts revenue in the quarter, an electric model with a long options list gives the company another outlet for it.
One wrinkle is worth keeping straight. In the same results coverage, Vigna also said the broader order book now reaches into 2028, with two more launches still to come this year. The Luce’s 2027 allocation is therefore one slice of a company that is booked far ahead across its range, and the open question is how many of the Luce’s first-year buyers are existing clients trading in rather than new ones, a split Ferrari did not provide.
This article was produced with the assistance of AI and reviewed by Morning Overview editors prior to publication.
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