Ferrari's first fully electric car has yet to reach a single customer, yet the company says its entire planned 2027 output is already spoken for. CEO Benedetto Vigna made the point on 3 November, when Ferrari reported third-quarter results ahead of analyst expectations and raised its forecasts for the year for the second quarter in a row.
Luce allocated before deliveries begin
According to Vigna, the 2027 sales planned for the Luce are "already fully allocated". On the earnings call he added that a new customer would now have to wait about a year for a car. The first deliveries are scheduled for the current quarter, with media and customer test drives planned for early 2027.
Ferrari has never said how many Luce cars it intends to build, so "sold out" does not reveal the size of that order book. Vigna would only say that buyers form a good mix in terms of clients and geography. The figure matters because the Luce, a five-seat EV priced from about 615,000 dollars and designed by Jony Ive, drew heavy criticism at its May debut and pushed Ferrari's share price down at the time.
Fewer cars, more money
The quarter itself showed the usual Ferrari pattern. Between July and September the company shipped 3,368 cars, 33 fewer than a year earlier, while revenue rose 7% to 1.9 billion euros. Adjusted EBITDA increased 12% to 753 million euros, beating the 739 million euros expected in a Reuters poll of analysts. Over the first nine months shipments fell by 318 units to 10,170, mainly because of fewer deliveries to the Americas and to China, Hong Kong and Taiwan.
Ferrari credits much of the improvement to personalisation, the paid options with which clients tailor their cars. It said this business was stronger than expected, led by the 296 Speciale family. Deliveries of the F80, the limited-edition hypercar priced at about 3.6 million euros, also improved the product mix.
New targets
Ferrari now expects 2026 revenue of 7.65 billion euros instead of 7.6 billion, adjusted EBITDA of at least 3 billion euros instead of 2.97 billion, and industrial free cash flow of up to 1.65 billion euros. Beyond personalisation, the company cited smaller currency headwinds and its second place in the Formula 1 championship.
Vigna also said the order book now reaches into 2028 and that two more model launches are planned before the end of the year. Ferrari has not said which models they will be.