The Tifosi are furious, and they are aiming at the wrong target. The Ferrari Luce, Maranello’s first production electric car, was unveiled near Rome on 25 May to a wave of revulsion. “A Nissan Leaf with a prancing horse,” said the internet. Nissan, delighted, leaned in and thanked Ferrari for the compliment. The market was less amused. Ferrari shares fell more than eight per cent in Milan and over five per cent in New York the next morning. For a marque that has sold beauty for almost eighty years, that is a remarkable thing to do with a single reveal.

But the styling is not the story. The styling is a symptom.

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