Ferrari's first ever electric car sold for record $40m at auction

Ferrari's first ever all-electric car has fetched $40m (£29.5m) in a charity sale, setting a record for a new car sold at auction.

The Sotheby's auction in California raised more than 35 times the usual price of a Ferrari Luce. The auction catalogue said it is a special model featuring a unique finish and bespoke parts.

The Luce, the brainchild of iPhone designer Sir Jony Ive, faced a backlash when it was launched in May after some commentators said it had strayed from the marque's traditional designs and lost part of the brand's identity by being battery-powered and having five seats.

Sotheby's said all proceeds of the sale will be donated to the Ferrari Foundation's educational programmes.

Sotheby's did not name the buyer of the custom Luce. The BBC has contacted the auction house and Ferrari for more information.

The unveiling of the Luce was seen as one of the biggest launches of a new car in recent years.

It marked the prancing horse's first entry into the electric vehicle (EV) market - a sector dominated by Elon Musk's Tesla and China's carmakers.

Italian President Sergio Mattarella and Pope Leo were invited to view the luxury brand's the vehicle.

But Ferrari's shares dropped the day after the Luce's launch, following criticism of the car.

It was also criticised by the company's former chairman Luca Cordero di Montezemolo and Italy's deputy prime minister Matteo Salvini.

Sotheby's said in a statement, external that the auctioned vehicle marked an "unbeatable opportunity" to own the first production car of the Luce.

The car has special wheels, customised brakes and an exclusive white finish.

The charity sale marks a "tangible expression of innovation, responsibility, and long-term vision for future generations," Sotheby's said.

A bespoke Daytona SP3 supercar raised $26m for the carmaker's education initiatives at an auction in 2025. At the time it set a record for the highest-price paid for a new Ferrari sold at auction.