LONDON (Bloomberg) -- Lamborghini CEO Stephan Winkelmann said global demand for ultra-luxury sports cars will probably not increase next year as the European debt crisis drags on and China’s economy slows.
“We are very cautious for next year,” Winkelmann said in a Bloomberg Television interview in Singapore. “The Europe crisis is not over.”
The maker of the 2.1 million-euro ($2.7 million) Aventador J supercar is expanding in markets including Singapore and Hong Kong to make up for slower sales in Europe and China. The Italian supercar maker opened a second dealership in April in India, where the number of millionaires will more than double by 2015, according to Julius Baer Group Ltd. and CLSA Asia-Pacific Markets.
Demand in Hong Kong, Singapore and Southeast Asia continues to grow, said Winkelmann. Lamborghini’s sales are “a bit below last year” in China, its second-largest market after the U.S., he said. Demand in the U.S. is recovering and globally there’s a waiting list of as long as 18 months for the Aventador, he said.
The ultra-luxury unit of Volkswagen AG hasn’t made the decision whether to introduce an SUV, Winkelmann said. Lamborghini unveiled an SUV prototype -- the Urus -- at the Beijing car show this year.
“This is a broader decision of the group, we hope it’s going to come soon,” the CEO said. “To engage in such a project, it’s adding a third model, and for us, this will be a huge step and huge investment.”