Ferrari shares fell nearly 8% on Tuesday after critics and investors gave a cool response to the new Luce electric car.
The four-door, five-seat family car, costing €550,000, is a radical departure for the iconic brand. It was developed with former Apple design chief Jony Ive.
Social media comments were largely negative, criticizing the vehicle's design.
Former Ferrari chairman Luca Cordero di Montezemolo called the new model a betrayal of Ferrari's history.
The Luce targets new markets like China and aims to attract wealthy tech buyers from Silicon Valley.
