88 Units Sold in Seconds: Ferrari’s First Electric Car Dominates China, the Market It Was Born For

We don’t recall a Ferrari model stirring as much controversy in the history of the brand. Since the Ferrari Luce was unveiled it has triggered all kinds of reactions in the United States and Europe, most of them visceral, nostalgic, and among purist followers—and not so purist ones. Whether by coincidence or not, the brand has even dismissed its head of marketing.

But neither the US nor Europe matter, because we are beginning to see that Ferrari’s strategy with the Luce has been to conquer China from the start: after the launch of 88 units, at more than half a million euros per unit, the Luce has sold out almost instantly.

First Batch of the Luce, Sold Out

The news was brought by Cars New China: the Ferrari Luce has sold out in the Asian country as soon as the 88 units allocated to this market went on sale. The public price of the grand tourer is 3,988,000 yuan, about 514,000 euros. It should be noted that the Luce’s price in China includes a discount of roughly 7% compared to its European price, which hovers around 550,000 euros.

Does this mean it is sold out in China? From Beijing Business Today, a Ferrari sales representative in Beijing has stated that the Ferrari Luce is still available for direct orders, and its official presentation in Beijing will take place from July 3 to July 5, so it is highly likely the Maranello firm will sell more units there. Many more.

The success of the Ferrari Luce in China can be explained by several factors: on the one hand the high taxes on luxury cars equipped with internal combustion engines, and on the other the long registration times for this type of propulsion.

In fact, this is the reason behind Ferrari’s sales decline in the Asian country, together with the difficulty of obtaining a license plate for a car with an internal combustion engine in the large cities: getting a plate in Shanghai can take one to two years if you’re unlucky and you don’t win the license plate lottery.

The Luce will help Ferrari regain market share in China

For example, the Ferrari F8 with a 4.0-liter twin-turbo V8 costs 104% more in the domestic Chinese market than in foreign markets, while electric vehicles are exempt from the consumption tax (40% of the price) and can obtain a license plate almost instantly in the major cities. Here the main competitor to the Luce is BYD’s Yangwang U9, but it costs half as much, charges faster, accelerates from 0 to 100 km/h more quickly, and offers more than 200 additional horsepower.

Even so, the Chinese buyer continues to seek status, and this 100% electric grand tourer from Ferrari can deliver it. Perhaps that is why the Maranello brand created the Luce—to lure a market it needs to re-enter.

According to data gathered by Cars New China, Ferrari states that only 10% of its production is allocated to China, but its sales there have fallen steadily in recent years. In 2022, it sold around 1,500 cars, representing 11.7% of total sales. In 2025, the figure dropped to about 900 units, 6.9% of total sales.