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Ferrari CEO defends new Luce EV, saying customer interest is strong
Reuters Videos79d agoneutralVIDEO
Ferrari CEO defends new Luce EV, saying customer interest is strong

<body><p>STORY: Ferrari is receiving "strong interest" for its new electric model from new and existing customers.</p><p>That's what CEO Benedetto Vigna said on Thursday.</p><p>He defended the automaker's new model, called the Luce, after it was criticized following its unveiling.</p><p>Ferrari showed off the car in Rome on Monday.</p><p>And Pope Leo himself even got behind the wheel of Ferrari's first all-electric car on Tuesday.</p><p>But some commentators on social media weren't happy with the Luce's unconventional design for a Ferrari.</p><p>They also didn't like the automaker's decision to shift from its legacy petrol-powered engines.</p><p>Some on social media said the car - valued at just over $638,600 - looked nothing like a Ferrari.</p><p>Vigna said Thursday Ferrari has already received bank transfers and that clients who were at the unveiling wanted it.</p><p>He added Ferrari would give exact figures about orders in July when it releases second quarter results.</p><p>The auto giant's shares plunged by more than 8% on Tuesday, but rose slightly on Thursday.</p></body>

RACE
Investing.com79d agobearish
Why Barclays sees Ferrari’s Luce selloff as overdone

Investing.com -- Ferrari shares dropped sharply on Wednesday after the Italian automaker unveiled the controversial exterior design of its first all-electric model, the Luce, but Barclays analyst Henning Cosman is urging investors not to overreact, calling the selloff excessive and framing the design gamble as a deliberate and strategically sound move.

RACE
Ferrari Luce EV Debut Tests Growth Potential And Premium Valuation
Simply Wall St.80d agoneutral
Ferrari Luce EV Debut Tests Growth Potential And Premium Valuation

Ferrari (BIT:RACE) has revealed the Luce, its first fully electric vehicle and first production car with five seats and four doors. The Luce introduces Ferrari to the battery electric segment, expanding beyond its traditional two door sports car focus. The project included input from designer Jony Ive, highlighting the model’s importance for Ferrari’s long term brand direction. Ferrari is known for high performance sports cars and limited volume GT models, so a fully electric, five seat,...

RACE
Ferrari shares plunge after debut EV shocks fans
Reuters Videos80d agobearishVIDEO
Ferrari shares plunge after debut EV shocks fans

<body><p>STORY: Ferrari shares plunged on Tuesday after the brand’s first electric vehicle got a cool response from fans, and investors.</p><p>The Luce is a radical departure for the luxury car maker.</p><p>Besides being electric, the five-seat sedan bears little or no resemblance to Ferraris of the past.</p><p>It drew a downbeat reception from many on social media, with Italy’s deputy prime minister even weighing in.</p><p>Matteo Salvini said “it looks nothing like a Ferrari. Is this supposed to be innovation?”</p><p>Former Ferrari executive Luca di Montezemolo called it a “betrayal” of the firm’s history.</p><p>Shares in the firm eventually closed down by over 8% amid the controversy.</p><p>Though some tried to sound positive.</p><p>One portfolio manager told Reuters that the car could appeal to a niche selection of buyers.</p><p>They would certainly have to be rich though, with the Luce priced at around $640,000.</p><p>Deliveries are expected to begin in the fourth quarter, and Ferrari hopes the model will help it win new customers beyond its traditional fan base.</p><p>That includes in China, where EVs are capturing a growing share of premium car sales.</p></body>

RACE
Ferrari reverses after controversial EV announcement
TheStreet81d agoneutral
Ferrari reverses after controversial EV announcement

U.S. car manufacturers have learned a valuable lesson about electric vehicles over the past couple of years: American consumers don't like expensive EVs. That's why Ford is still pushing hard for EVs despite the $19.5 billion in losses it was recently forced to write down in its electric vehicle ...

AAPLFNIORACE
GuruFocus.com81d agoneutral
Ferrari Shares Slide Nearly 8% After Luce EV Backlash

Ferrari (NYSE:RACE) shares dropped nearly 8% after the unveiling of the company's first fully electric vehicle, the 550,000 Luce, drew a wave of criticism from analysts and social media influencers. The four-door, five-seat EV marks a major shift for Ferrari, with the company moving away from the design language associated with Flavio Manzoni and bringing in former Apple design chief Jony Ive to help shape the vehicle. The market reaction was immediate, with Ferrari shares falling as much as 7.8% in early Milan trading before sitting 6.4% lower at 1:37 p.m., marking the steepest decline since October and putting fresh investor attention on the risks behind Ferrari's EV transition.

AAPLRACETSLA
Ferrari shares drop as Jony Ive-designed EV faces backlash
Proactive81d agobearish
Ferrari shares drop as Jony Ive-designed EV faces backlash

Ferrari (NYSE:RACE) shares fell 4.6% on Tuesday after the Italian automaker unveiled its first fully electric vehicle, the Luce, drawing criticism over its design and questions about the model's departure from the brand's identity. The four-door Luce, whose name is Italian for "light," was...

AAPLRACE
Why investors aren't loving Ferrari's new Luce EV
Yahoo Finance Video81d agoneutralVIDEO
Why investors aren't loving Ferrari's new Luce EV

Ferrari (RACE) showcased its new Luce EV in Rome this week, the luxury car designer's first fully electric vehicle, with a price tag of $640,000. The stock has edged lower in Tuesday trading in response to this grand unveiling. Yahoo Finance Senior Autos Reporter Pras Subramanian gauges the investor reaction to Ferrari's new vehicle.

AAPLRACE
Why people aren't loving Luce, Ferrari's new EV
Yahoo Finance Video81d agoneutralVIDEO
Why people aren't loving Luce, Ferrari's new EV

Ferrari (RACE) launched its $640,000 electric vehicle (EV) Luce. Yahoo Finance Senior Autos Reporter Pras Subramanian chats with Yahoo Finance's Julie Hyman and Myles Udland about the vehicle and the public reaction.

AAPLRACE
Ferrari’s New EV Looks Like a Nissan Leaf—and Costs $640,000
Barrons.com81d agoneutral
Ferrari’s New EV Looks Like a Nissan Leaf—and Costs $640,000

Ferrari is going electric while others are shying away from the space, and investors don’t look happy about it—especially when the design of the car in question doesn’t reach the standards buyers expect from the luxury automaker. It’s named the Luce, after the Italian word for light. Ferrari’s U.S.-listed shares dropped 4.4% to $332.95 in early trading on Tuesday, while the and were up 0.7% and 0.3%, respectively.

AAPLFRACETSLA^DJI
Ferrari’s New EV Looks Like a Nissan Leaf—and Costs $640,000
Barrons.com81d agoneutral
Ferrari’s New EV Looks Like a Nissan Leaf—and Costs $640,000

Ferrari is going electric, and that’s a worry for Wall Street. The EV is named the Luce, after the Italian word for light. Former Apple chief design officer Jony Ive helped create the car, which Ferrari said would sell for a starting price of 550,000 euros ($640,000).

AAPLRACE