Reports indicate that luxury automotive leader Ferrari NV (RACE.US) is using orders for its newly launched electric sports car, the Luce EV, as a loyalty test for its affluent clientele. The suggestion is that supporting this initially underwhelming electric model could help customers retain eligibility to purchase more sought-after, limited-production supercars.
The automaker is reportedly conveying a message within its collector network that purchasing the Luce is a stepping stone to other exclusive, strictly limited models. The more a client buys, the more they are regarded as a significant customer.
Ferrari NV has confirmed that when selecting buyers for highly coveted, in-demand models, it prioritizes wealthy clients with long-standing, solid relationships. Buyers can demonstrate their loyalty through lower-cost, volume-produced vehicles.
The Luce represents the final phase of a three-stage unveiling for Ferrari's first pure electric vehicle. The reveal began last year with a showcase of core technology, followed by its interior. The Luce delivers over 1,000 horsepower equivalent, accelerates from 0 to 100 km/h (62 mph) in just 2.5 seconds—faster than Ferrari's V12-powered Purosangue SUV—and has a top speed exceeding 310 km/h.
Prior to the car's launch, Ferrari had delivered long-term targets that disappointed investors last year, raising questions about how it would balance electric technology with internal combustion models, which remain central to the brand. The company's 2030 plan halves the expected share of fully electric vehicles to 20% of its lineup, while setting targets for combustion models at double that level.
However, just one day after the grand Rome debut of its first-ever EV, Ferrari's stock on the Italian market plunged as much as 8% intraday, ultimately closing down 6%, marking its largest single-day drop since October 2025.
From its design language to its strategic direction, the Luce has ignited controversy on nearly every front. Underpinning this debate is a fundamental question: as the iconic roar of Ferrari's 12-cylinder engines is replaced by the silence of electric motors, can a brand built on scarcity, emotional value, and internal combustion mythology maintain its unique pricing power in the electric era?
Morgan Stanley analyst Edward Oubin had preemptively lowered Ferrari's price target from 357 euros to 330 euros ahead of the Luce's launch, maintaining an "equal-weight" rating and setting the stage for cautious sentiment. Conversely, a team led by Bernstein analyst Stephen Wrightman stated in a report, "Ferrari is not blindly pushing forward. We know the Luce has generated a lot of curiosity." He expects both new and existing clients and collectors to be sufficient to "solidly establish the Luce's position within Ferrari's product matrix."
Ferrari's 550,000 Euro "Loyalty Ticket"
According to recent media reports citing knowledgeable sources, within parts of Ferrari's collector network, the company has begun conveying that purchasing the 550,000 euro (approximately $636,000) Ferrari Luce is a stepping stone to other exclusive models. The sources requested anonymity due to privacy concerns.
Ferrari has long employed this allocation system, granting priority for limited-edition models—like the $2.1 million LaFerrari Aperta—to buyers who repeatedly purchase its standard supercar models.
"It's like a restaurant where you can't get a reservation," said Max Girardo, founder of collector car consultancy Girardo & Co. and former RM Sotheby's auctioneer and car specialist. "If you go every week, eventually they'll find you a table. With Ferrari, the more you buy, the more you're treated as an important client."
The suggestion to buy the Luce comes after the four-door car's rocky debut last month. The design faced waves of criticism for its smooth lines and rounded edges, contributing to ongoing stock price pressure. For its first EV, the supercar maker bypassed its usual design team, instead choosing the LoveFrom studio of former Apple design chief Jony Ive to style the car's exterior. Multiple veteran luxury car commentators have criticized the design as bland, comparing it to existing mass-market models from Honda and Tesla.
Media outlets have interviewed over six investors and collectors from Italy to China to understand how Ferrari is communicating with clients post-Luce launch. One buyer stated Ferrari made it clear that purchasing the car was important to maintain his position among top clients. Another collector said the company is signaling to many clients, especially potential new buyers, that future eligibility for a unique model may first depend on buying the Luce or a lower-priced entry-level model.
Ferrari NV confirmed in an email response that when selecting buyers for "highly sought-after models, such as limited editions," it prioritizes clients with "long-term, solid relationships" with the company. "The focus in selecting a client is on his or her personal connection to the model, not on whether this elevates the client's ranking."
The manufacturer, which produces fewer than 14,000 cars annually, has long relied on model scarcity as a selling point. This strategy resembles the allocation tactics of major luxury goods companies like Hermes International SA, which maintain long waitlists for certain handbags and favor loyal customers who have previously purchased less-sought-after items.
While Ferrari is presenting the Luce as one way for clients to elevate their status, buyers can also demonstrate loyalty through lower-cost, volume-produced models like the Amalfi and 296 GTB, with base prices around 240,000 euros and 290,000 euros respectively.
Including the Luce among models that can serve as a future purchase pathway may indicate the new EV lacks the prestige of Ferrari's limited-edition supercars. The strategy also carries risk, testing whether loyal buyers are willing to support a car that departs from the Italian brand's iconic internal combustion powertrains.
Ferrari's Hermès-Style Allocation Playbook
The logic mirrors Hermès's allocation system: purchasing standard, entry-level, or less popular models to gain future eligibility for scarce products. The Luce's inclusion in this system highlights Ferrari's strong brand control but also exposes the EV's own lack of the inherent appeal found in limited-run supercars.
"Most people seem to hate the car and say it's ugly," said Paul Welch, founder of MillionPlus, an online platform for luxury assets including Ferraris. But "some are considering buying it just to get access to future limited-edition supercars and move up the waitlist—many people are playing that game."
In the days following the Rome launch, CEO Benedetto Vigna stated Ferrari had already received orders from numerous existing and new clients. While Ferrari occupies a unique category among automakers, the Maranello-based company has previously seen models underperform expectations. The Mondial, produced from 1980 to 1993, is often considered a less successful car, though even models deemed less desirable often gain a solid footing among collectors.
The entry-level Mondial featured four seats and a mid-sized V8 engine. It was designed for broader use, but the extra weight made it slower than a typical Ferrari.
According to a study released this month by financial giant HSBC, cars are the largest luxury expenditure category for ultra-high-net-worth individuals, particularly in the Middle East. Ferraris are especially popular for their uniqueness, heritage, and appreciation potential. Prices have remained resilient in recent years against a backdrop of broader luxury market softness.
Per Knight Frank's 2026 Wealth Report, the value of luxury supercars has risen over 30% in the past decade, outperforming art and fancy-colored diamonds over the same period. Longtime classic Ferrari collectors include David Lee, owner and CEO of Los Angeles-based Hing Wa Lee Jewelers, and Canadian real estate magnate Luc Poirier.
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