Ferrari launched its first EV, Ferrari Luce, marking its historic entry into full electrification. While the vehicle promises performance consistent with Ferrari’s standards, investors appeared underwhelmed by its exterior design, sending shares down 8% following the unveiling.
Ferrari launches an Icona or supercar model every three to four years coupled with a step change in pricing, supporting stable annual pricing growth.
Bears
Range extension is pushed too far. The differentiation between new models becomes thinner and the overall exclusivity of the brand falls with too many Ferraris on the road. Pricing power is reduced.
Ferrari designs, engineers, and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2025, the company sold 13,640 vehicles at an average price over EUR 520,000 with more than 80% of its vehicles being sold to existing Ferrari clients. Eighty-four percent of revenue is generated from the sale of cars and spare parts and 10% from sponsorship, commercial, and brand activities including racing and lifestyle activities. In 2025, the Europe, Middle East, and Africa region accounted for 49% of revenue, the Americas was 32%, mainland China, Hong Kong, and Taiwan was 7%, and the rest of Asia was 12%.