Lamborghini’s CEO Has 10,000 Reasons to Smile – The Detroit Bureau

The success of the Lamboghini Urus SUV and Huracán spots car, and the pending the debut of the Revuelto, led Lamborghini to sell a record 5,341 vehicles in the first six months of 2023, an increase of 4.9% compared with the same period in 2022. 

“We are really excited about these numbers, delivered with only two models in the range, in a year that we can define as special for Lamborghini,” said Stephan Winkelmann, chairman and CEO of Automobili Lamborghini, in a statement.

With the growth in sales come growth in revenue, which rose to €1.42 billion, up 6.7% from the same period in 2022. Operating income increased 7.2% to a record of €456 million, compared to €425 million in 2022. Return on sales registered a healthy 32.1%, but the company will need the cash. 

Who’s buying where

Lamborghini’s three regions, AMEA (Europe, the Middle East, and Africa), America and Asia Pacific all reported healthy numbers, with the AMEA selling 2,285 units, America 1,857 units and Asia Pacific 1,199. The United States was the automaker’s largest individual market, accounting for 1,625 vehicles, followed by the United Kingdom (514), Germany (511), Chinese mainland, Hong Kong and Macau (450), Japan (280) and Italy (270).

“We are proud to once again confirm Lamborghini’s growth path,” said Paolo Poma, managing director and CFO of Automobili Lamborghini. “The positive trend reinforces our expectation that we will close the year with further record results in all the key financial metrics, with profitability that confirms Lamborghini’s place among the leading brands in the luxury segment.”

Given this kind of success, it’s little wonder that selling 10,000 cars this year is a “feasible goal” according to Winkelmann, while speaking to Reuters about the results. But the company would still lag its chief rival, Ferrari, which retailed more than 13,200 vehicles last year. 

Changes are coming

In its transition to hybrid and electric automobiles, Lamborghini is investing €1.9 billion through 2027, although additional investments are anticipated.

The Italian automaker, a subsidiary of Germany’s Volkswagen Group, set records as both the Urus and Huracán sold out through the end of their production, which is expected sometime in the second half of 2024.

Meanwhile, the new Lamborghini Revuelto, the replacement for the Lamborghini Aventador and the company’s first gas-electric hybrid vehicle, which was unveiled in March, already has orders for more than two years of production. But it remains a Lamborghini, with an 814-horsepower, 6.5-liter V-12 and three electric motors.

“2023, in addition to marking the company’s 60th anniversary, has seen the launch of the Revuelto, the first plug-in hybrid in our history, and the presentation of the SC63, the most advanced racing car ever designed by Lamborghini that follows the company’s Direzione Cor Tauri strategy for electrifying the range,” Winkelmann said. 

It’s just the start, as both the Lamborghini Urus and Huracan will have hybrid drivelines by the end of 2024, making Lamborghini a purely gas-electric hybrid automaker. And look for Lamborghini to add a fourth model to its line-up in 2028, when the brand unveils its first battery-electric car, a 2+2 grand touring car. A battery-electric version of the Urus will follow it for 2029.

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• Source: https://www.thedetroitbureau.com/2023/07/lamborghinis-ceo-has-10000-reasons-to-smile/