Ferrari's debut into the electric car world hasn't gone over well with Wall Street. A day after the Italian automaker unveiled the Luce, its first all-electric model, shares in the company tumbled, reflecting unease among both investors and longtime fans about what the car signals for the brand's future.

In the United States, Ferrari's stock dropped 4.6 percent shortly after trading opened Tuesday morning, and the shares are now down 30.2 percent for the year. The decline was even steeper overseas, with Ferrari's stock in Milan falling about 8.1 percent by late Tuesday morning local time, and sliding a further 5.3 percent by Wednesday morning.

The Luce represents a dramatic shift for Ferrari, a brand built on the roar of combustion engines and track-bred performance. The five-passenger EV was designed with help from LoveFrom, the design studio led by former Apple design chief Jony Ive, giving the car a look that breaks sharply from Ferrari's traditional styling language. According to CNBC, that bold reinvention is exactly what's spooking shareholders.

Michael Field, chief equity strategist at Morningstar, told CNBC that enthusiasts are unhappy to see Ferrari fully embrace electrification, fearing it waters down the supercar identity the brand has spent decades cultivating. At the same time, investors are wary of the steep research and development costs tied to building an EV from the ground up.

Anthony Dick, an auto analyst at Oddo BHF, was even more blunt, calling the Luce "the furthest deviation from the brand's ethos we've ever seen." That sentiment appears to be driving the market's negative reaction.

Despite the pushback, Ferrari CEO Benedetto Vigna is framing the Luce as a turning point rather than a misstep, describing its launch as the beginning of "a new chapter" for the company. Vigna said he expects the car to draw in new customers while still appealing to Ferrari's existing base.

Whether that optimism proves accurate remains to be seen. The Luce looks unlike anything Ferrari has built before, a gamble that could expand the brand's audience or alienate the purists who built its legacy. For now, though, investors seem more focused on the risks than the reward, as Ferrari bets big on an electric future that may not resemble its storied past.

Source: Motor1.com

Before this, we covered: Ferrari to Reveal Third-Quarter 2026 Financial Results on November 3