Ferrari slows on the stock market, cold reception for the first electric car
Analysts point out the high price compared to the group average but expect the model to attract new customers
(Il Sole 24 Ore Radiocor) - Cold reception from the market for Ferrari's first electric car. The red car's stock slipped to the bottom of the main list of Piazza Affari, after opening down more than 7%. In detail, on Monday 25 May in the evening Ferrari Luce, the first 100% electric car from Maranello, was officially unveiled after five years of work. The starting retail price is 550,000 euro, higher - Equita points out - than the average group selling price of around 440,000 euro in 2025 (calculated on the turnover of car & spare parts). Order collection started at the same time as the official presentation and first deliveries are scheduled for the fourth quarter of 2026. At this stage no indication of expected volumes has been given, since this is not a limited-run model.
"We remain of the opinion that an electric model with a high price, despite being a 'range' model, will not generate high volumes. We do not believe that the volumes of this model will be decisive in influencing the group's results, but treating it as a first model with a new motorisation it is important to preserve the image of quality and performance," underline Equita, which has a 'Buy' rating on the stock with a target price of €385.00.
More optimistic are the experts at Banca Akros: "Although electric vehicles tend to reduce margins for carmakers, we believe that the record high price (over €700,000 after customisation) more than compensates for this dilution, with the Luce already expected to be profitable, according to Ferrari's CEO". For analysts, this new model will attract "a new customer base, with Ferrari's CEO stating that 50% of orders should come from new customers". This is why Akros confirms its 'Neutral' rating on the stock with a target price of 320 euro.
On the subject of price, according to Intermonte, it could "be higher than the average revenue per unit of around EUR 460 thousand (to be considered net of VAT but including customisation, which on average represents 19-20%)". Still, experts are confident 'in the company's capacity to produce the vehicle to the highest quality standards and to manage the relationship between supply and demand, with feedback from customers and dealers representing the first element in defining the group's future model pipeline'. Intermonte has an 'Outperform' rating on the stock and a target price of EUR 417.
