Mocked by Everyone, Jony Ive’s $640k Ferrari EV Just Crushed Its 2026 Sales Target In 2 Months

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By: Logan Pierce

The internet and even Ferrari’s own 20-year former chairman tore Jony Ive’s first Ferrari EV to shreds. Back in May, when the Luce launched, every comment section was full of jokes about its rounded shape, four doors, and weirdly large wheels. Ferrari’s stock dropped 8% in a single day on the backlash. Everyone wrote the car off as a tone-deaf misstep from a brand that forgot its core identity.

Per Financial Times, Ferrari set a target of 500 Luce units to sell by 2026. Just two months after the public launch, the brand has already hit that full target. The long-term goal is 2,500 of the $640,000 units sold by 2030, and the current sales pace puts that goal well within reach. This win hits even amid a broader collapse in US EV sales, the market that makes up a quarter of Ferrari’s total annual sales.

After Trump eliminated the federal EV tax credit in September, US new EV sales dropped 49% month-over-month in October. Last month, they fell 28% year-over-year, making up just 5.4% of total US new car sales. Competitors are already running for the exits. Lamborghini canceled its $300k Lanzador luxury EV this year, saying customers and the overall market are simply not ready. Ferrari even scaled back its own EV targets, cutting 2030 all-electric lineup goals from 40% to 20%.

Most luxury automakers are betting that high-net-worth buyers won’t switch to EVs anytime soon. They structure their EV transition around retaining existing gas-powered customers, and avoid rocking the boat for their core base. Ferrari took a deliberately different approach. It targeted a very specific slice of buyers: wealthy Chinese consumers and Silicon Valley tech elites that already drive EVs daily. It also told its dealers not to push EVs on existing gas-car customers, to avoid alienating loyal buyers.

Ferrari’s second quarter results tell the full story of this strategy’s success. It posted 1.94 billion euros in revenue, beating every analyst expectation on Wall Street. It raised its full-year guidance from 7.5 billion euros to 7.6 billion euros. CEO Benedetto Vigna says the entire company’s order book is full through 2027. The stock jumped 3% after the earnings report, and RBC analysts note Ferrari almost never raises guidance in Q2, a clear sign of strong underlying demand.

Ultra-luxury EV brands that target niche, ready buyers will outpace volume-chasing competitors for the next decade.

Author bio: Logan Pierce, independent business researcher focused on luxury automotive and corporate governance.