Record Lamborghini Sales Despite Switch to Hybrid?

Lamborghini Sets New Sales Record, Anticipates Continued Success

Lamborghini has achieved a record-breaking number of deliveries in the first half of 2024, and the outlook for the rest of the year remains positive despite major shifts in their lineup and political uncertainties in key markets.

Lamborghini's Sales Surge

Lamborghini's performance in the first half of 2024 has been remarkable, with the company delivering a total of 5,558 vehicles globally between January and June. This unprecedented figure includes 3,152 Uruses, 2,043 Huracans, 355 Revueltos, and eight remaining Aventadors. The impressive sales have driven revenue up by 14.1% compared to the same period last year, reaching €1.6 billion ($AU2.7B). Operating profit also hit a record $AU759M, reflecting a robust 28.7% margin.

Market Highlights

In terms of regional performance, the United States led as Lamborghini's top market, with 1,621 deliveries. Following were Germany (595), the United Kingdom (514), Japan (354), and a combined total for Mainland China, Hong Kong, and Macao (337). Italy accounted for 268 deliveries. Notably, Europe, the Middle East, and Africa collectively surpassed the Americas in sales, with 2,498 vehicles sold compared to 1,849. The Asia-Pacific region saw 1,211 deliveries.

In Australia, Lamborghini saw a significant increase with 130 cars delivered, marking an 83% rise from the previous year.

Confident in Future Growth

Lamborghini Managing Director and CFO Paolo Poma expressed satisfaction with the company’s continued growth. "The positive trend and strong order bank reinforce our confidence that, even amid the transition to hybrid models, we will maintain growth in key financial and business metrics, showcasing the brand’s resilience in the luxury and super sports market."

CEO Stephan Winkelmann is optimistic about sustaining the positive performance throughout 2024, despite potential uncertainties. He noted that past experiences with different U.S. administrations suggest no major negative impacts are anticipated from the upcoming U.S. election.

Exciting Developments

Lamborghini is set to unveil the successor to the Huracan, potentially named the Temerario, at Monterey Car Week in California this August. This new model will feature a 4.0-liter twin-turbo V8 engine combined with three electric motors and a plug-in hybrid battery.

The Urus super SUV has transitioned to a plug-in hybrid-only lineup with the introduction of the Urus SE, replacing the previous petrol models. The entire Lamborghini range is expected to be fully electrified by the end of 2024.

Winkelmann highlighted the success of the Urus SE, with strong demand extending through the end of 2025. He also noted that the Huracan Evo appeals to younger buyers, averaging under 40 years old, while the Urus has a notable percentage of female customers, with Australia having one of the highest proportions globally.

Looking ahead, Lamborghini’s first electric vehicle, previewed by the Lanzador concept in 2023, is projected for a global release around 2028. Additionally, the successor to the Urus is expected to debut in the early 2030s, transitioning to electric power.

With these exciting developments and a strong order backlog, Lamborghini is well-positioned to continue its impressive trajectory in the luxury car market.