How Ferrari lost its sex appeal

Accustomed to near-universal adoration for its internal combustion and hybrid supercars, Europe’s most famous manufacturer cannot have anticipated the collective snort of derision that greeted its first battery-electric model, the Luce, in May. Unprecedentedly negative coverage in the mainstream press, and the kind of social media vitriol usually reserved for singers, left a substantial dent in Ferrari’s share price, with the outpouring of scorn quickly becoming a story itself. Former company chairman Luca di Montezemolo said that the new car risked “destroying a legend” and that he wished the manufacturer’s logo could be removed from its nose. On 23 June, Ferrari announced the departure of its marketing chief. Never before has a new sports car prompted such an international response — eve