Italian luxury carmaker Lamborghini has raced to unprecedented success in 2023, marking both its 60th anniversary and a historic achievement. The company, renowned for its Urus SUVs and Revuelto hybrid cars, celebrated record-breaking sales last year, surpassing 10,000 vehicles—a remarkable 10% increase from 2022, marking the first time Lamborghini hit a five-figure sales milestone.
CEO Stephan Winkelmann expressed pride in the company’s accomplishment, stating, “It’s a true source of pride for the whole company to have surpassed the 10,000-car delivery mark. Playing a role in achieving this milestone for Lamborghini is an honor for me.”
The standout performers in sales were the U.S., Germany, China, and Britain. Winkelmann, sharing the news on LinkedIn, stated, “I am so incredibly proud to announce that we have reached another historic milestone.”
Lamborghini’s robust financial performance aligns with the steady increase in demand for its high-end vehicles over the years. Half-year results indicated a 6.7% year-over-year revenue increase to €1.42 billion ($1.54 billion), with Winkelmann expressing confidence in achieving the 10,000 mark for 2023.
The company, based in Sant’Agata Bolognese, Italy, has ramped up production in response to sustained demand for models like Urus and Huracán, priced up to $270,000 and $345,000, respectively.
In the luxury car market, Lamborghini’s success mirrors that of its Italian competitor Ferrari, which experienced an 18.5% increase in total car shipments to just above 13,200 in 2022. Ferrari, anticipating continued strong demand, emphasized the importance of vehicle personalization as a key profit driver.
Despite challenges faced by other luxury industries, Lamborghini’s affluent clientele continues to fuel its success. In contrast, companies like Burberry and LVMH have grappled with sluggish sales and reduced profit forecasts.
Looking ahead, Lamborghini faces the shift towards electric vehicles (EVs), with plans to electrify all its cars—either in hybrid or fully-electric versions—by the end of 2024. The Revuelto cars are already sold out until 2026, indicating sustained demand.
CEO Winkelmann, expressing optimism about Lamborghini’s future in the EV market, stated, “As always, we’re not stopping at individual targets. In fact, we’re more than ready to take on even more exciting new challenges in 2024.”
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