Electric Car Lease News – The Ferrari Luce back in the headlines with a $40 million sale!

A $40 million sale for the Ferrari Luce - Electric Car Lease News

At the time of its launch, the Ferrari caused an unimaginable stir in the automotive markets (globally). While Ferrari had announced their commitment to some form of electrification, the end product did not quite meet the expectations of many prancing horse fans!

The Luce EV was somewhat different from any other Ferrari we had witnessed previously and, in some ways, this was a positive thing. Battery propulsion is fundamentally different to combustion and sometimes colluding the two platforms can create branding and product issues. In moving the Ferrari into two distinct forms, this ensures that the combustion-hardy are not insulted by the BEV alternative and vice versa.

With some more direct critique likening the upcoming Luce EV to the car Homer Simpson designed back in 1990s, there was not much hope of an uptake.

However, last week (17 August 2026) a very different headline emerged when an American billionaire paid some $40m for the Luce at a charity auction! Reaching the headlines of the BBC , the news was that Herbert Wetheim paid this amount, at some 36 times the auction original estimate. 

The 87-year-old philanthropic inventor with his near $5 billion net worth, acquired the Chassis “0” Ferrari. The first production car, this could be, as Sotheby’s state, a “tangible expression of innovation, responsibility, and long-term vision for future generations." With a special white finish and white wheels, this could be an iconic EV for the future.

While this is just one example of what can happen with the Ferrari, it is fair to say that the brand is not yet out of the fire. The market in the UK for luxury and performance BEVs is perhaps more limited than we would like. In some ways, more cost-effective EV options offer performance and luxury on an affordable scale, so only more wealthy individuals and businesses will consider the vehicles which are £100,000 and above.

For brands like Ferrari and Rolls-Royce, who are looking for £500,000 commitments, this does alienate the pool of potential customers. Yet that doesn’t mean that the UK will not be transacting them.

In the UK, there are incredible tax reasons for utilising an electric car via your business. If you opt for a purchase, then HMRC will allow you to enjoy a 100% first-year allowance. What this means is that the business can write-off the full cost of the vehicle purchase against Corporation Tax.

For a highly profitable business, which will pay significant Corporation Tax every year, the ability to reduce tax exposure is a worthy incentive. With the tax rate at 25%, this is not a small saving in 2026 / 2027. If you do decide to lease / contract hire the Ferrari, then any rentals can be wholly offset against tax.

The big difference between the two finance products is your appetite to risk – do you want to own and be responsible for the product? Or do you want to use and return it.                             

Want to build and order your Luce electric car lease? Just head to the Ferrari manufacturer website and build your preferred option.

How will the Ferrari Luce EV perform?

• Luce - with a usable battery of 115kWh this AWD luxury option offers 772kW (1035hp), top speeds of 193 mph and 0-62 times of 2.5 seconds. Real-world ranges suggest a combined 305 miles in colder weather with warmer temperatures to allow for 405 miles (on a full charge) – 360 miles combined . The 22kW AC allows for 0-100% charging times of 6 hours and 15 minutes with the 350kW DC enabling 10-80% in 23 minutes. This EV has no Bidirectional charging. It has a 127 mpg equivalent and 597L cargo volume. The car cannot tow.

Want to know more about going into an electric Ferrari?

Head to our dedicated Ferrari special offers section or speak to our experts directly on 01942 910 001 or by emailing us at [email protected]