Why investors aren't loving Ferrari's new Luce EV

Added: 2026-05-27

[00:00:00]Let's just start with the new EV. Walk us through it. Horsepower, price tag, what do we need to know?

[00:00:05]>> That's not important, Josh. It is important.

[00:00:08]>> The lead, my friend. I have you on. Show us the car. Show us the car. Show us the car. The reason why I bring this up is because this is all that anyone's talking about. That's this is why the stock's down. The stock is down because people are >> uh let's to put it lightly, the this design departure for Ferrari is kind of a big deal. Uh you see this here it's very kind of you know uh sculpt not so sculpted more smooth lines very Appleesque because this is Johnny Ives firm right that that did this interior >> Johnny IV and and by the way prize that's sir Johnny Iive to you right correct Johnny I of course the legendary Apple designer >> correct correct uh his company love from had the full design brief here for interior and exterior car comes out uh uh Monday night uh the the unfortunately the design was uh was not received well by Ferrari fans.

[00:00:57]>> Why? What's the issue? What are people saying?

[00:00:59]>> You know, when they think of Ferrari, they think of emotionally driven kind of uh design, right? Think of like sculpted arches, uh low slung, wide, super aggressive intakes, uh hard angles, right? You think for think Tessterosa, right? You think F40, you think of these classic cars, the sports cars that that that we know of Ferrari. This is a very big departure for them. Why? Because it's an EV and it's a whole new market that they want to that they want to go to. They were originally targeting 80% new customers, right? So, what do you do? You go for a totally new segment.

[00:01:26]You say this is the Ferrari VVs. You mentioned the statistics, right? Quad motor over 1,000 horsepower, 0 to 60 m per hour, 2 and a half seconds. There's crazy stats. I mean, look, I bet it drives like a maniac. Uh the underpinnings of it are in in unbelievable in terms of the design and the mechanical nature of it all. It's just the exterior design is is is kind of polarizing at the moment for for for a lot of Ferrari fans and that's hitting the stock.

[00:01:50]>> So, the worry here is demand. Is that what we're talking about? We're worried that it's not going to be the demand for this. Yeah, I think the worry I think um every ISI was talking about that is that they potentially expected the fact that there would be a negative reaction to this car, but they're really concerned about the fact that you know what's going to happen when this car actually comes out. They're hearing channel checks at the dealers, not much demand.

[00:02:10]Right now I spoke to Enrico Gallier who's the chief commercial officer and he said actually uh demand or reaction from our clients is very positive both from uh existing clients which he thought which he was surprised by but also the new the new clients that they have not bought for as they've seen the vehicle they're also positive on it.

[00:02:27]We'll see in a couple quarters when this car comes out what the sales are.

[00:02:30]>> What have other luxury automakers what's their what's been their EV strategy and how does does Ferrari dovetail with rivals? Are they breaking apart? How do you compare and contrast them?

[00:02:40]>> For the most part, it's not been good.

[00:02:42]Uh I would say the one exception is Rolls-Royce with a Spectre >> because that makes sense, right? That car looks like like a like like an actual Rolls-Royce. It looks the part looks very amazing design, >> but because it's Rolls-Royce, you expect it to be quiet.

[00:02:55]>> Yes. The noise.

[00:02:56]>> You don't even really think about people go into like, "Oh, what kind of engine?

[00:02:59]It's like no engine. It's it's an electric electric vehicle." Oh, right.

[00:03:03]Cuz it's so quiet, you know. So, that works right for that that that specific brand. But uh Bentley's and push has pushed back their EV. It's going to come out still but pushed back a lot.

[00:03:11]Lamborghini cancelled their EV because they said the CEO said next to zero demand for it for a luxury EV. So at that level, right?

[00:03:20]>> Forgot to mention the price of the Ferrari is going to be $550ish,000. I'm sorry, 550ish,000 over $600,000.

[00:03:27]>> So >> couple that with the price and you wonder who is this product for? Maybe it's young people. Maybe it's uh people in the in the east. U maybe it's tech for people in Silicon Valley >> who like Johnny IV.