Lamborghini could hit 10,000 sales this year for the first time, its CEO said, as the luxury sports carmaker reported a rise in profit and revenues for the first half. The Italian brand, a subsidiary of Germany’s Volkswagen (VOWG_p.DE), sold 5,341 cars between January and June, up 4.9% on the same period last year. The United States was its largest single market, with 1,625 deliveries. Chairman and CEO Stephan Winkelmann said it was not easy to make forecasts due to market uncertainties, including with raw materials, but added that selling 10,000 cars was a “feasible goal.”
In the first six months, the company posted a profit of 55.4 million euros ($61. million) and revenue of 1 billion euros. Both figures topped expectations. The strong performance shows that Lamborghini has the financial strength to invest in new technologies, such as hybrids and electric vehicles. It also has a strong order book, with the Urus SUV and Huracan 10-cylinder sports car in high demand. The company partly owes its profitability to the fact that it has only three models for which special editions are regularly launched, such as the Huracan Tecnica and Urus Performance. The company can also use the platforms of other brands within the Volkswagen Group, such as the Audi Q7, Audi Q8, and Bentley Bentayga, which allows it to introduce new products without spending big on research and development.
Lamborghini has shifted its focus to hybrids and battery-powered vehicles as the world shifts from traditional internal-combustion engines. It is also investing in artificial intelligence and autonomous driving. It is also reshaping its product line to meet changing consumer demands and future regulations. For example, it plans to offer a range of SUVs alongside its sports cars and has earmarked an investment of 1.9 billion euros by 2027 to develop hybrid and electric vehicles.
Moreover, it is expanding its production to meet rising SUV demand, particularly in the United States. It shipped 1,625 SUVs to the country in the first six months, more than double that of rival Ferrari.
Lamborghini is also shifting its focus to electric vehicles and considering using e-fuels, but the decision will depend on future regulations in different regions worldwide. It will also depend on whether it can offer its sports cars in a cost-effective and competitive form.
