In a development that should surprise absolutely no one who has ever observed the relationship between public ridicule and wealthy buyers, Ferrari's first electric car - the much-maligned, Jony Ive-designed Luce - is sold out. The five-seater EV, which debuted in May to widespread mockery and a corresponding dip in Ferrari's stock price, has apparently transcended the criticism. CEO Benedetto Vigna confirmed Tuesday during the company's third-quarter earnings call that the 2027 production run, starting at about $615,000, is "fully allocated." Every car Ferrari plans to build next year already has a buyer. "If someone comes, he has to wait one year to get the cars," Vigna said, presumably while mentally counting the money.

First deliveries of the Luce are expected in the fourth quarter. How many cars that actually represents remains a mystery, as Ferrari has never publicly disclosed Luce production numbers. The Financial Times reported earlier this year, citing unnamed sources, that Ferrari planned to sell just under 500 units this year, with a longer-term target of 2,500 units by 2030 - roughly 600 a year. So the sold-out 2027 run is somewhere in the hundreds, which is either impressively exclusive or just Ferrari being Ferrari.

As for who these buyers are - possibly the founders of multibillion-dollar AI labs, if you enjoy speculation - Vigna declined to provide a breakdown, offering only that it was a "good mix in terms of client, it is a good mix also in terms of geography." He later added there is no specific pattern or demographic among Luce buyers, which is exactly what you'd say if the pattern were "people with $615,000 and a tolerance for controversy."

While the Luce faithful wait, Ferrari's existing lineup and a growing appetite for personalized options kept the financial engine humming in the third quarter. Revenue from customizations accounted for more than 21% of revenue from cars and spare parts, helping boost profits. The company credited deliveries of the F80, its limited-run hypercar, and customization options with reflecting clients' "ever-deepening desire" to make each Ferrari uniquely their own - a desire that apparently extends to paying extra to make a car that was widely panned uniquely yours.

Ferrari, which enjoys some of the highest profit margins in the auto industry, reported third-quarter revenue of €1.9 billion, up 7% from a year earlier, and net income of €431 million, up 13%. Operating profit was €563 million, for an operating margin of 29.7% - meaning the company kept roughly 30 cents of every dollar of revenue as profit from its core business. The company also raised its full-year guidance, now expecting adjusted earnings of at least €3 billion ($3.36 billion), up from €2.97 billion. Not bad for a company whose latest model was mocked into a stock-price dip just a few months ago.