Summary
Companies Revenues up 6.7% in H1 to 1.42 bln euros
Operating income up 7.2% in H1 to 456 mln euros
Shipped 5,341 cars globally in H1, 1,625 in the U.S.
EMEA largest region with 2,285 cars shipped in H1
MILAN, July 31 (Reuters) – Lamborghini could sell 10,000 cars 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 this year was a “feasible goal”.
“It is not something we are obliged to achieve, but it’s important to show what the health of the company is and how big (clients’) willingness to buy our cars is,” Winkelmann said.
Supported by the success of its Urus SUV, which costs around 200,000 euros ($219,900) before tax, Lamborghini has in recent years expanded its output, relying on solid demand from wealthy car lovers. It delivered over 9,200 vehicles in 2022.
Rival Ferrari (RACE.MI), whose headquarters is less than 40 kms (25 miles) away, shipped more than 13,200 cars last year.
In the first half, Lamborghini’s revenues grew 6.7% to 1.42 billion euros and its operating income rose 7.2% to a record 456 million euros, the company said.
Lamborghini is investing 1.9 billion euros to 2027 in its shift to hybrid and electric cars, but further investments are expected.
The carmaker earlier this year presented its first plug-in hybrid model, the Revuelto, adding to the Huracan 10-cylinder sports car and the Urus in its current range. The line-up is set to become all hybrid next year with the new Urus and a new sports car replacing the Huracan.
Lamborghini plans to launch its first fully-electric model in 2028 – three years after the first promised by Ferrari – followed by a battery version of Urus in 2029.
“What matters is to be there at the right time, when we know we are at our best and the market is ready,” Winkelmann said.
He added the use of so called e-fuels was an option, but only for the brand’s sports car models. But any decisions about possible e-fuel powered models for the next decade would depend on future regulation in different parts of the world, not only in Europe, Winkelmann said.
($1 = 0.9095 euros)
Reporting by Giulio Piovaccari Editing by Mark Potter
Our Standards: The Thomson Reuters Trust Principles.
Lamborghini could hit 10,000 sales this year, CEO says
