Ferrari Shares Drop 3% After Launching $640,000 Luce EV in Rome
Updated
Updated · CNBC · May 26
Ferrari Shares Drop 3% After Launching $640,000 Luce EV in Rome
4 articles · Updated · CNBC · May 26
Ferrari fell 3% before the U.S. open after unveiling Luce, its first fully electric vehicle, at a Rome launch event.
The drop followed a sharper selloff in earlier trading after the debut of the $640,000 model, which marks a major strategic shift for the luxury sports-car maker.
Luce has already drawn online criticism over its styling, adding pressure as Ferrari pushes into an EV market where several luxury rivals have pulled back amid weak demand.
The launch comes with Ferrari stock already down nearly 27% over the past 12 months, underscoring investor caution about the brand's electric transition.
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