Fabio Barone, president of the Passione Rossa Ferrari owners' club, expressed his dismay at Ferrari's first fully electric car, the Luce, unveiled this week. For passionate enthusiasts, Ferraris are not merely cars but works of art, evoking emotions akin to standing before a Michelangelo sculpture or listening to Verdi. The Luce, however, left many fans aghast.
Design Shock and Criticism
Barone, who bought his first Ferrari at 27 and holds world speed records, said the design was a total shock that shook the foundations of the legendary brand. Across the fanbase, the five-seater blue Luce drew widespread scepticism. Internet commenters likened it to a Nissan, the Fiat Multipla, or even a vacuum cleaner. Matteo Salvini, Italy's deputy prime minister, wondered what founder Enzo Ferrari would think, while former CEO Luca Cordero di Montezemolo suggested removing the prancing horse logo. Barone agreed, saying the horse needs to be removed because the car lacks sound. "How can you have a Ferrari without any vroom?" he asked.
Sound and Market Reaction
Efficient electric motors are whisper-quiet compared to Ferrari's V12 engines. Ferrari has added sound via sensors amplified like an electric guitar, but it remains to be seen if fans accept it. Ferrari's stock plunged 8.4% in Milan and 5.3% in the US after the unveiling, though it later recovered 3.5%. CEO Benedetto Vigna dismissed critics, citing interest from buyers who praised the car's courage. Vigna said Ferrari is seeking buyers beyond traditional fans, with former Apple design boss Jony Ive involved in the project.
Analyst and Club Perspectives
Investment analysts noted stable loyalty despite muted enthusiasm. Zuzanna Pusz of UBS said there would be stable underlying loyalty, while Michael Filatov of Berenberg said sentiment shifted after seeing the car in person. Filatov added that the backlash may not matter since Ferrari will produce fewer than 1,000 units, needing only a small number of open-minded wealthy buyers. Barone's club, with 70 members across Italy, regularly gathers for events and fundraising. Barone owns a Ferrari F8 Tributo, one of only about 1,000, and drives a humble Fiat for everyday use.
Club Member Reactions
Alex Tedino, another club member, said the Luce betrays the brand's essence. He compared Ferraris to great works of art and said the Luce did nothing for him. While he supports electric Ferraris, he believes the company should create a different brand if the classic look is not maintained. "It needs to be something visually beautiful, like all the other Ferraris," he said.
