The breakdown isn’t bad. It’s actually working out better than expected.
Emanuele Carando. That’s Ferrari’s global marketing director. He says he’s ‘very pleased’. Not just okay with it. Very pleased.
They braced themselves for backlash. Controversy? Yes. This much? No one saw this coming. Not in their wildest nightmares or marketing seminars. The Luce debuted in late May and it looks… different. Shockingly so. Like, “is that a Ferrari?” different.
“Everybody has a right to say something about them.”
Carando told Edmunds the reaction magnitude stunned them, but he’s riding the wave. People love the brand, sure, but they also love to hate what it changes. And change this does.
CEO Benedetto Vigna isn’t hiding behind the marketing department either. He defends the EV. Says interest is ‘strong’.
Really? With this car?
Yes. New clients are showing up. Deposits are flying in. Some report says they sold out in China late last month. Maybe. They are still taking orders though, which is the tell-tale sign of supply playing catch up with hype, or at least confusion.
The Former Boss Hates It
Luca di Montezemolo. He ran the show from ’91 to 20’14. He is not a fan.
He didn’t want to trash his former employer publicly, but the truth was too heavy. He says the Luce risks destroying a legend. A legend. Can you believe we use that word for car designs in the 21st century? He wants them to take the prancing horse badge off the nose. Just peel it off. Throw it in a bin.
He also threw shade at Chinese copycats, claiming they certainly won’t want to copy this thing. Harsh? Sure. Accurate? Debatable.
Even Wall Street flinched. US shares dropped 4.6% the morning after the reveal. Classic reflex action. Fear first, ask questions later. They’ve bounced back since then. Money likes uncertainty until the balance sheet proves otherwise.
What do you think it’s worth?
Motor1’s Take
Ferrari is acting bullish. Too bullish? Maybe they are saving face because there is no other option now. The money is in. The EV era is here.
Wait until late July. Second-quarter earnings will drop then. That is when the internet gets the real number. How many actually want it versus how many just complained. We will see.
Until then the hate is loud and profitable.
