'Luce' Unveiling Triggers 7% Ferrari Stock Plunge Amid Design and Pricing Concerns

*This content was translated by AI.

Italian luxury supercar brand Ferrari has seen its stock price plummet immediately after unveiling 'Luce', its first all-electric vehicle in the brand's history, amid a cold market response.

At an event held recently in Rome, Ferrari showcased Luce, the culmination of its electrification vision. The model, which means 'light' in Italian, was developed with participation from former Apple Chief Design Officer Jony Ive and his design firm LoveFrom. Luce is Ferrari's first four-door, five-seater vehicle, priced at approximately $640,000 (about 870 million won). Equipped with a 122kWh large-capacity battery and four electric motors, it delivers over 1,000 horsepower and accelerates from a standstill to 60 mph in under 2.5 seconds. The driving range on a single charge is approximately 500 km.

Inside, the philosophy of Jony Ive, who prefers tactile control, is reflected in a digital instrument panel with an analog feel that combines physical needles. Additionally, to maintain the unique sensibility of internal combustion engines, a virtual sound system that artificially amplifies electric motor sounds has been installed.

Despite Ferrari's ambitious announcement, the market and investors responded coldly. Ferrari, listed on the New York Stock Exchange, saw its stock price drop sharply by approximately 5% to 7% immediately after the Luce unveiling. According to foreign media such as Benzinga, the main reasons for the stock decline were resistance to its unconventional design and skepticism about the high-end EV market. On social media, criticism continued that Luce's exterior design diverges from Ferrari's signature sleek symbolism. Concerns were also raised about whether the high price of $640,000 would translate into actual demand. Furthermore, competitors such as Porsche and Lamborghini have recently scaled back their electrification plans amid slowing global demand, which is also negatively affecting Ferrari. Some pointed out that features like sound amplification could be perceived by loyal customers who prioritize internal combustion engine sensibilities as mere gimmicks.

Major investment banks including Morgan Stanley and Jefferies have lowered their target prices, citing the possibility of growth slowdown due to supply constraints. This result was completely different from the upward trend driven by expectations just before the announcement. Contrary to Ferrari's intentions, market skepticism regarding its foothold in the EV market has grown. Above all, it is analyzed that the sense of loss regarding the design has been a major setback.

From a technical analysis perspective, Ferrari's stock is showing a bearish trend, trading below both short-term and medium-term moving averages. Over the past 12 months, the stock has fallen by approximately 30%, leading to a contraction in investor sentiment. However, even amid macroeconomic headwinds such as high interest rates, Ferrari has maintained an industry-leading profit margin of approximately 22%, and all new vehicle orders through 2027 are already closed. A share buyback program worth 3.5 billion euros is also being continuously executed.

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*This content was translated by AI.