Lamborghini could hit 10,000 sales this year, CEO says

The supercar maker sold 5,341 cars in the first half. The U.S. was Lamborghini's largest single market followed by the U.K. and Germany.

July 31, 2023 04:24 AM

Reuters

Supported by the success of its Urus SUV (shown), which costs about 200,000 euros ($219,900) before tax, Lamborghini has expanded its output.

MILAN -- 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 Group, sold 5,341 cars between January and June, up 4.9 percent 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, costing about 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 more than 9,200 vehicles in 2022.

Rival Ferrari, which has its headquarters less than 40 km (25 miles) away, shipped more than 13,200 cars last year.

The supercar maker earlier this year presented its first plug-in hybrid model, the Revuelto.

In the first half, Lamborghini's revenues grew 6.7 percent to 1.42 billion euros and its operating income rose 7.2 percent to a record 456 million euros, the company said.

Lamborghini is investing 1.9 billion euros by 2027 in its shift to hybrid and electric cars, but further investments are expected.

The supercar maker 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 lineup 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 full-electric model in 2028 -- three years after the first promised by Ferrari -- followed by a battery-powered 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 that using 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 around the world, not only in Europe, Winkelmann said.