Ferrari shares fell nearly 8% on Tuesday as investors and critics reacted coolly to the Italian luxury sports car maker's new Luce electric car, questioning whether it remained true to the brand's identity.
Ferrari just unveiled its first electric sports car. Investors aren't cheering the move.
Ferrari unveiled its first fully electric car called the Luce. It is a five-seat model priced at €550,000 ($640,000) that marks a sharp break from the sports-car maker's fuel-burning heritage.
Ferrari Luce: The Stock Falls 7% But The Horizon Is Now Clear
On May 26, the legendary Italian car company Ferrari (BIT: RACE, NYSE: RACE) demonstrated that the electric vehicle (EV) slowdown remains a major concern in 2026 as it opened severely in the red upon unveiling its latest automobile.
Ferrari Goes Electric, Fully Electric
Ferrari stock fell sharply on Tuesday after the company unveiled the Luce, its first fully electric car, turning a milestone product launch into a test of investor confidence. The Milan-listed stock lost about 7%, putting it on course for its biggest daily drop since October, as markets questioned whether even Ferrari can make the jump from roaring engines to battery-powered luxury.
Ferrari unveils its first fully electric car - but the 'Ferrari Luce' fails to impress investors, as the stock declines in early trade.
Shares of luxury carmaker Ferrari fell sharply on Tuesday morning, shortly after the company launched its first fully electric vehicle.
Ferrari presented its first fully electric car on Monday, marking a high-stakes shift by the luxury sports car maker as competitors including Porsche and Lamborghini scale back their EV ambitions, citing weak demand.
The four-door EV, whose name means “light” in Italian, tops out at 193 mph and marks the boldest transformation in Ferrari's history.
As its sports car rivals tap the brakes on a shift to EVs, Ferrari will take a leap into an uncertain era on Monday with the launch of its first fully-electric car, betting it can connect with drivers even without a throaty engine roar.