Especially if it's a male and depending on your location it can range from $1000 to $4000.
Typically cars of that nature along with larger SUV type vehicles are going to cost more seeing as they are wrecked the most often. Not necessarily sure why any sixteen year old should have a brand new car as their very first vehicle seeing as I'm eighteen years old and would not want that as my first car.
You become much more comfortable on the road when you know that accidents happen and you find driving safely for the sake of other people and yourself rather than being tense and nervous that you might get a scratch on the car and have to tell Mom and Dad.
After a few years of driving in a less expensive car than a brand new sports car, he should be confident enough and good enough of a driver to drive away with a car of that nature for a graduation present.
I've had plenty of friends who went fresh into a brand new car of that nature and it added extra stress to already being a new driver. My best recommendation would be to wait a few months, or a couple of years.
But as for the price, it won't be cheap. Like I said the rates are going to depend on incalculable personal factors but in $1000 - $4000 annually I'd expect it to be on the higher end.