by Ferrari’s first electric vehicle, the Luce model, has gone on sale in China at a price of approximately $586,600 USD. Initially, it was reported that all 88 cars allocated for the Chinese market were instantly sold out. However, later reports indicate that dealers are still accepting orders for this 1036-horsepower electric car.
Reaction of Chinese buyers to Ferrari’s first electric vehicle
Ferrari’s first electric car may have sparked controversy among enthusiasts almost everywhere, but wealthy buyers in China do not seem overly concerned. Despite endless online debates over the unusual design of the Luce and the lack of a ‘real’ engine, Ferrari, judging by a recent sales report, is receiving a warm reception in its second-largest market.
Car News China reported this week that the country’s quota of 88 cars for this year was sold out almost immediately after the launch of the Luce at a price of 3.988 million yuan, which is about $586,600. This made for a striking headline, especially given the mixed reaction the electric vehicle received in Europe and North America.
Denial of sell-out information
But perhaps the story is not so clear-cut. According to a subsequent report by Beijing Business Today, Ferrari dealers in Beijing denied claims that orders had been stopped due to the quota being exhausted.
They say the Luce remains available for order ahead of its debut in Beijing, which will take place from July 3 to 5. This suggests that Ferrari either has additional cars allocated for China, or initial reports exaggerated the finality of the initial quota.
Ferrari’s sales decline in China
China is certainly a key market for the Luce, as Ferrari’s sales in the country have fallen from 1,500 cars per year in 2022 to approximately 900 in 2025, as previously reported by Car News China. This decline is partly due to high taxes on luxury internal combustion engine vehicles, as well as difficulties in obtaining a license plate for an ICE car in major cities.
Photo: Ferrari China
Since the Luce is an electric vehicle, it provides easy access to a license plate and is also exempt from the country’s 40% consumption tax. In fact, at a price of $586,600, the Luce costs $53,000 less in China than in the United States.
Positioning and competition
But it still appears expensive compared to cheaper Chinese electric vehicles, some of which are faster and more powerful, although the Luce is positioned as a five-seat grand tourer rather than a supercar. It is also very likely to be more exclusive. Ferrari never discloses production volumes until the car is discontinued at the end of its model lifecycle, but industry observers seem to assume that Ferrari will produce fewer than 1,000 (and possibly fewer than 800) Luce electric vehicles annually.
Ferrari
Thus, while initial reports of an instant sell-out may have been somewhat exaggerated, interest in the Luce in China remains high. The electric vehicle offers Chinese buyers not only the prestige of the Ferrari brand but also practical advantages in the form of easier license plate acquisition and tax benefits. This makes it an attractive alternative to traditional gasoline Ferrari models, which are becoming increasingly expensive and less accessible in China due to regulatory restrictions. It is worth noting that even if the initial batch was not sold out instantly, the very fact that Ferrari was able to attract buyers to its first production electric vehicle in such a competitive market as China is a significant achievement. The model’s future success will depend on how well it can compete not only with other luxury electric vehicles but also with ultra-fast Chinese startups that offer impressive performance at a significantly lower price.
