Ferrari CEO Benedetto Vigna has defended the 550,000-euro (around Rs 6.1 crore) price tag attached to the company's first fully electric vehicle, arguing that customer appetite for the model remains robust.
Speaking on Thursday, Vigna said the car had already sparked interest among high-net-worth individuals, including buyers new to the Ferrari brand.
Despite the buzz surrounding the launch of the Luce on Monday, the market response was less enthusiastic. Ferrari's shares on the Milan exchange dropped 8% on Tuesday after investors reacted cautiously to the unveiling.
Speaking during a media round table in Modena, Italy, on Thursday, Benedetto Vigna defended the cost of Ferrari's newly launched Luce, saying buyers were effectively paying for cutting-edge technology and engineering advances.
The Ferrari boss also pushed back against suggestions that the company intended to phase out conventional engines entirely. According to Vigna, recent media narratives had created the impression that Ferrari was moving exclusively towards electric vehicles, which he insisted was inaccurate.
“You have to see Luce to understand that it has nothing to do with Chinese EVs or those by other brands,” Vigna said, according to Reuters. "If you see it and try it, you immediately understand it was not copied and it has nothing to share with other EVs you have seen and are produced by others, in terms of interiors, exterior and performance," he added.
The luxury carmaker presented its latest model to approximately 1,600 clients at a launch showcase in Rome earlier this week, with order books going live on Wednesday.
"We've already received bank transfers, clients who were there want it," the CEO said. The firm would provide a clearer picture of customer orders next month, when Ferrari announces its second-quarter earnings, he said.
The market's lukewarm response to the Luce launch was mirrored online, where the car quickly became the subject of intense debate on social media. Its unconventional styling drew criticism from Ferrari's former chairman, Luca di Montezemolo, as well as Italy's transport minister.
Despite the negative reaction, automotive analysts have urged caution against reading too much into the early backlash, arguing that it remains far too soon to draw firm conclusions, reported CNBC.
Montezemolo, who occupied several senior leadership roles at Ferrari over a decades-long association that ended in 2014, reportedly told Italian media that the new model was an insult to the marque's celebrated legacy. “I hope that they take off the prancing horse [logo] from that car,” he said, according to Reuters.
As Ferrari's inaugural five-seater, the Luce reaches 96.56 kmph in roughly 2.5 seconds and delivers a top speed nearing 309 kmph.
The Italian manufacturer said all key elements of the car were created and assembled at its Maranello base. Its design was overseen by LoveFrom, the studio launched by former Apple chief designer Jony Ive.
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