Ferrari’s first fully electric vehicle, a personalised “tailor made” version of the Luce, has sold for $40 million at a charity auction, setting a record for a new car sold at auction.

The bespoke Ferrari Luce was sold by Sotheby’s during Monterey Car Week in California, with the auction house describing the vehicle as an “unrepeatable opportunity” to acquire the first production chassis of Ferrari’s Luce programme.

The one-off model features a unique semi-gloss finish and a range of specially commissioned components under Ferrari’s exclusive “tailor made” personalisation programme, which allows customers to customise vehicles to their precise specifications.

Sotheby’s did not disclose the identity of the winning bidder. It said proceeds from the sale would be donated to Ferrari’s foundation, which supports educational programmes.

The record-breaking sale comes nearly three months after Ferrari unveiled the Luce as its first fully electric production car, with a starting price of 550,000 euros, or roughly $640,000.

The launch represented a significant departure for the Italian luxury sports carmaker, particularly as other high-performance manufacturers, including Porsche and Lamborghini, have scaled back or reconsidered electric vehicle plans amid weaker-than-expected demand.

Ferrari’s unveiling of the Luce initially triggered a negative reaction in financial markets, with analysts pointing to concerns over the vehicle’s design and the company’s elevated share price ahead of the launch.

Despite that initial market scepticism, the $40 million auction result underscores the strong appetite among collectors for rare and highly personalised Ferrari models, particularly the first production example of a major new chapter in the marque’s history. (Arise News)