Ferrari shares fell in Milan on Tuesday after the Italian supercar maker unveiled its first EV sports car, disappointing Wall Street analysts who criticized the design, with one calling it a “mix between a Honda Accord EV and Tesla.”
The four-door, five-seat Ferrari Luce, priced at a staggering 550,000 euros, marks the supercar maker’s first fully electric vehicle and serves as its biggest test yet: can Ferrari’s nearly eight-decade brand equity survive the transition away from combustion?
Ferrari has just officially unveiled its first ever all-electric car, called the Ferrari Luce.
• Starting price: $640,000
• Interior co-designed with Apple’s former head of design, Jony Ive
• Range: 280 miles (expected EPA)
• Peak charging speed: 350kW
• 122 kWh battery
•… pic.twitter.com/QjgHeP1hJm— Sawyer Merritt (@SawyerMerritt) May 25, 2026
AIR Capital analyst Pierre-Olivier Essig said the Luce looks like a “mix between a Honda Accord EV and a Tesla.”
He added, “We are lost in translation with Ferrari’s new strategy.”
The Luce is equipped with 1,000 horsepower, accelerates from 0-60 mph in 2.5 seconds, and has a top speed above 192 mph. Even with top-tier performance, the car’s design has been instantly rejected by people online.
Left, Ferrari Luce $645k
Right, Nissan Leaf $35k pic.twitter.com/2PtrCrgnDW— Tommy (@_TommyMason) May 25, 2026
Analysts at Oddo BHF noted that initial reactions to the exterior design have been largely negative among core Ferrari enthusiasts, reflecting concerns about a deviation from the brand’s heritage.
They noted that while it is a bold and strategic move, it will likely have only a modest impact on sales and may lead to margin dilution, given high development costs and weaker residual values in EVs.
Oxcap analyst Stuart Pearson told Bloomberg that “”he Luce is likely a challenging aesthetic for many to digest, ourselves included, but it may provide the answer to Ferrari’s China question.”
The disappointment spilled over into the equity market, with Ferrari shares in Milan trading down about 6%.
On the year, the stock is down around 9% and about 40% off its high established in early 2025. Shares are currently trading around 2023 levels.
One notable takeaway from Goldman analyst Christian Frenes earlier this month was a report explaining Ferrari hybrids are depreciating far faster than their petrol-powered counterparts, suggesting buyers still prefer V-8 and V-12 combustion engines.
On top of Ferrari’s shift into EVs, at a time when Lamborghini and Porsche have slowed EV plans as demand for high-end EVs remains lackluster, the car company recently reported wartime disruption to deliveries earlier this month.
At Capital Markets Day in October 2025, Ferrari set an official 2030 net revenue target of 9 billion euros, or about 800 million below expectations. Wall Street analysts were expecting 10 billion euros, adding to concerns about the company’s long-term growth outlook and its strategy as it now enters EVs.