Exterior view of the 2019 Lamborghini Urus, starting at $ 200,000.
Adam Jeffery | CNBC
Lamborghini posted record profits in 2020 as its high net worth clients – especially in China – rode the global bull market in style.
Despite a mandatory factory shutdown of more than two months during the Covid-19 pandemic, the “raging bull” delivered 7,430 cars to the auto world in 2020, a decline of 9% from the record high of 2019. Sales were at 1.6 billion euros ($ 1.9 billion at the current exchange rate), up 11% from 2019, but the company said profits rose to a record high as customers ordered more expensive, highly customized cars.
The outlook for 2021 looks even better as rising stocks and assets around the world fuel wealthy car buyers. Wealth creation from cryptocurrencies, special-purpose acquisition companies, IPOs, and corporate acquisitions has also spawned a new generation of younger supercar buyers.
Stephan Winkelmann, CEO of Lamborghini, told CNBC that the company had already booked orders for 2021 for nine months.
“It’s a bit like the stock markets,” said Winklemann. “The mood of the buyer is high, they can’t wait to get out and enjoy life.”
The Lamborghini, owned by the Volkswagen Group, also benefits from the success of its $ 220,000 SUV Urus. The company’s total production has more than doubled since the Urus began shipping in 2018.
Winkelmann said China is expected to be the company’s second largest market this year, replacing Germany for the first time. The US is still a long way from Lamborghini’s market. In 2020, 2,224 cars were delivered.
The biggest challenge for Lamborghini and other sports car manufacturers like Ferrari, McLaren and Bugatti is tightening global emissions regulations and switching to electric vehicles. With Teslas rocketing from 0 to 100 km / h in less than two seconds, sports car manufacturers, famous for building ever faster, louder engines and more dramatic designs, must redefine themselves in an electric world.
At the same time, they need to continue to please their customers – wealthy car collectors who love the emotion and feel of roaring V-8 and V-12 engines.
Lamborghini hasn’t announced any plans for an EV, but Winkelmann hinted that announcements could come in April.
“Ultimately, we have to look forward to what will happen in five to ten years and how it will change the way we look at these types of cars,” he said. “We must also expect a change in the minds of our customers and enthusiasts. This is a very defining moment for supercars where you really have to set an example for the future without scaring anyone by clearly admitting what is going on Limit for the future to be in terms of normal internal combustion engines. “
Lamborghini started moving its toes into electrification with the introduction of its first hybrid, the Sian FKP 37. The supercar, which retails for over $ 3.6 million and means “lightning” in Bolognese dialect, has a V-12 engine powered by a lithium-ion supercapacitor. The company quickly sold all 63 Sian coupes and 19 open Sian roadsters that were slated for its limited production.
Winkelmann declined to comment on speculation that VW might spin off Lamborghini or bring it to the public. But he said that given its capital and technology, VW remains an ideal owner of the brand.
“The Volkswagen Group is a perfect fit for Lamborghini because we can freely decide what is our top priority and where we invest our money,” he said. “They also have a lot of specialist knowledge and all of the upcoming technologies, which are the three megatrends – electrification, digitization and, for sure, autonomous driving.”
He said self-driving may not be “the big deal” for the brand, “at least not for now, but the other two are certainly things that are constantly on our agenda.”
Comments are closed.