Latest news with #Winkelmann
India Today
06-05-2025
- Automotive
- India Today
Lamborghini delivers 2,967 cars globally in Q1 2025
Lamborghini has kicked off 2025 with impressive momentum in the first quarter despite a turbulent global economic backdrop. The Italian luxury automaker delivered 2,967 vehicles and generated 895.2 million euros (Rs 8,550.68 crore) in revenue, marking a 29.6% year-on-year increase. Operating income soared to 248.1 million euros (Rs 2,369.71 crore), up 32.8% from Q1 2024. Chairman and CEO Stephan Winkelmann credited the brand's continued success to its resilient strategy. 'The results from the first quarter confirm the strength of our brand, even in an uncertain economic context,' Winkelmann said. 'We remain committed to performance, innovation and exclusivity, while ensuring top-tier quality and personalisation.' The robust performance was largely driven by full-scale production of the Revuelto, Lamborghini's first V12 plug-in hybrid, and the launch of the Urus SE, a new hybrid iteration of the brand's flagship SUV. Both models have broadened Lamborghini's customer base and reinforced its global standing. Paolo Poma, Managing Director and CFO, emphasised the company's commitment to sustainable growth. 'Even amid international trade uncertainties, we remain focused on long-term value creation, with a foundation rooted in financial discipline and environmental responsibility,' he said. Lamborghini's global reach was evident in its regional deliveries: EMEA: 1,368 units (+7%) Americas: 1,034 units (+21%) APAC: 565 units (+14%) The United States led the charge with 933 vehicles delivered, followed by Germany (366), UK (272), Japan (187), and Italy (143). Other top markets included South Korea, the Middle East, Switzerland, Australia, and France/Monaco. With a two-year waiting list for the Revuelto, Lamborghini's order book remains strong. The company is closely monitoring ongoing geopolitical developments and trade policy shifts, particularly between Europe and the US, though it reports no impact on Q1 results so far. Lamborghini reiterated its support for open, rules-based global trade, asserting that cooperative economic relationships are vital to growth and competitiveness. Subscribe to Auto Today Magazine
Arab Times
22-03-2025
- Automotive
- Arab Times
Young, wealthy consumers fuel luxury car boom in India
Lamborghini is exploring the possibility of opening a fourth showroom in India. NEW DELHI, March 22: Lamborghini and Mercedes-Maybach are set to expand their presence in India as the country's rapidly growing base of young, affluent consumers increasingly splurge on super-luxury cars, helping to drive sales to record levels. Lamborghini, coming off a year of record sales, is exploring the possibility of opening a fourth showroom in India. Meanwhile, Mercedes-Maybach sees the country as a potential top-five market by sales, executives from both companies revealed. "India, for us, is an asset... there is huge potential for the future," said Stephan Winkelmann, Lamborghini's CEO, during a virtual roundtable with reporters. "There is the idea of having maybe a fourth dealership, but this is still something in the early stages." This optimism is fueled by the changing demographic landscape in India, with a growing generation of younger customers driving the shift. Winkelmann noted that the average age of a Lamborghini buyer in India is under 40, making it the youngest market for the brand, following China. "You have a lot of successful startups in India, and young, high-net-worth individuals stepping into this type of car. So this is positive for us," he added. India's rapid economic growth has led to a fundamental shift in attitudes toward luxury purchases, particularly among younger generations. These buyers differ from their older counterparts, who were traditionally more focused on saving. Today, executives from successful startups cashing out after public listings and younger members of family-run businesses spending with fewer reservations are driving demand for luxury goods – from cars and watches to homes. However, luxury car sales still make up just over 1% of India's 4 million vehicles-a-year market, with super-luxury vehicles accounting for an even smaller share. Lamborghini had its best year in India in 2024, selling 113 cars, a 10% increase compared to 2023. Winkelmann anticipates further growth in 2025, buoyed by a strong order book that stretches 18 months into the future. Half of its sales came from the Urus SUV, which carries a starting price of around $500,000 before taxes, while the remaining sales were driven by the Huracan and Revuelto sports cars. Mercedes-Maybach, in contrast, achieved 145% growth in India in 2024, selling 500 of its super-luxury cars, each priced upwards of $325,000, in a market where the average car costs about $15,000. Daniel Lescow, head of Mercedes-Maybach, said that India had already reached the top 10 markets for the brand and has the potential to break into the top five, depending on the pace of growth in the luxury market. "I'm convinced there's so much more potential... so many opportunities here," Lescow told Reuters, expressing confidence in India's future as a key market for Mercedes-Maybach.
Zawya
21-03-2025
- Automotive
- Zawya
Young, rich Indians rev up Lamborghini and Mercedes-Maybach sales
Lamborghini and Mercedes-Maybach plan to expand in India as a growing tribe of young, rich Indians splurge on super luxury cars, driving their sales to record levels. Italian supercar maker Lamborghini, fresh from a year of record sales, is exploring a fourth showroom in India, while Mercedes-Maybach sees the country as a potential top-five market by sales, company executives said. "India, for us, is an asset ... there is a huge potential for the future. There is the idea of having maybe a fourth dealership but this is still something in the early stages," Lamborghini's Stephan Winkelmann told reporters at a virtual roundtable. The optimism is driven by "a change in generation" in the country with "momentum from younger customers", he said, adding that the average age of a Lamborghini buyer in India is below 40 years - making it the youngest market after China. "You have a lot of startups in India which are very successful. You have very young, high net worth individuals which are stepping into this type of car. So this is positive for us," he said. Rapid economic growth in India has wrought a fundamental shift in attitude towards luxury purchases among its younger generations that differs from their elders, who were more concerned with saving. Executives at startups cashing out after record public listings and younger generations of a family business spending with less guilt are driving up sales of all things luxury - cars, watches, bags and even homes. But luxury car sales in India make up just over 1% of the 4 million vehicles-a-year market, and super luxury cars are an even smaller percentage. Lamborghini had its best year in India in 2024, selling 113 cars, up 10% on 2023. Winkelmann expects growth again this year, on the back of a strong order book lasting 18 months. Its Urus SUV, which has a starting price tag of close to $500,000 before taxes, made up half its sales, with the rest coming from the Huracan and Revuelto sports cars. Mercedes-Maybach achieved 145% growth in India in 2024, selling 500 of its super luxury cars priced upwards of $325,000 in a market where the average car costs about $15,000. Daniel Lescow, head of Mercedes-Maybach, said India was already in its top 10 markets and had the potential to be in the top five, but the speed of growth would depend on how the luxury market develops. "I'm convinced there's so much more potential ... so many opportunities here," Lescow told Reuters.
Reuters
21-03-2025
- Automotive
- Reuters
Young, rich Indians rev up Lamborghini and Mercedes-Maybach sales
NEW DELHI, March 21 (Reuters) - Lamborghini and Mercedes-Maybach plan to expand in India as a growing tribe of young, rich Indians splurge on super luxury cars, driving their sales to record levels. Italian supercar maker Lamborghini, fresh from a year of record sales, is exploring a fourth showroom in India, while Mercedes-Maybach sees the country as a potential top-five market by sales, company executives said. Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here. "India, for us, is an asset ... there is a huge potential for the future. There is the idea of having maybe a fourth dealership but this is still something in the early stages," Lamborghini's Stephan Winkelmann told reporters at a virtual roundtable. The optimism is driven by "a change in generation" in the country with "momentum from younger customers", he said, adding that the average age of a Lamborghini buyer in India is below 40 years - making it the youngest market after China. "You have a lot of startups in India which are very successful. You have very young, high net worth individuals which are stepping into this type of car. So this is positive for us," he said. Rapid economic growth in India has wrought a fundamental shift in attitude towards luxury purchases among its younger generations that differs from their elders, who were more concerned with saving. Executives at startups cashing out after record public listings and younger generations of a family business spending with less guilt are driving up sales of all things luxury - cars, watches, bags and even homes. But luxury car sales in India make up just over 1% of the 4 million vehicles-a-year market, and super luxury cars are an even smaller percentage. Lamborghini had its best year in India in 2024, selling 113 cars, up 10% on 2023. Winkelmann expects growth again this year, on the back of a strong order book lasting 18 months. Its Urus SUV, which has a starting price tag of close to $500,000 before taxes, made up half its sales, with the rest coming from the Huracan and Revuelto sports cars. Mercedes-Maybach achieved 145% growth in India in 2024, selling 500 of its super luxury cars priced upwards of $325,000 in a market where the average car costs about $15,000. Daniel Lescow, head of Mercedes-Maybach, said India was already in its top 10 markets and had the potential to be in the top five, but the speed of growth would depend on how the luxury market develops. "I'm convinced there's so much more potential ... so many opportunities here," Lescow told Reuters.
Arabian Business
20-03-2025
- Automotive
- Arabian Business
EXCLUSIVE: Lamborghini sees Middle East growth moderate to 1% amid luxury market ‘normalisation'
Automobili Lamborghini's Middle East sales grew just 1 per cent in 2024 compared to 5 per cent globally, as the Italian luxury automaker witnessed what its CEO described as a 'normalisation' following the post-pandemic luxury spending surge. 'The Middle East is a very important region… it is the third largest market after Germany and the UK,' Lamborghini Chairman and CEO Stephan Winkelmann told reporters during a Dubai media roundtable. 'On a global level, it is at number six.' The more modest regional growth comes as Lamborghini achieved record global results, with revenues exceeding 3 billion euros ($3.27 billion) for the first time, reaching 3.09 billion euros ($3.37 billion) in 2024, a 16.2 per cent increase over the previous year. UAE remains regional stronghold Within the Middle East, the United Arab Emirates – particularly Dubai – continues to drive the company's regional performance. ',' Winkelmann said, adding that the company maintains a balanced portfolio in the region with approximately equal sales between its super sports cars and its Urus SUV model. 'We have a very good mix in terms of the super sports cars and the SUV. It's almost 50-50, which is where we want to be and where we should be,' he explained. migration of wealthy individuals to the country. 'The UAE, inside the Middle East, even if it's not the biggest car market because it's Saudi Arabia, is the one in terms of high-net individuals and luxury business which is going to have the biggest opportunity also in future,' he said when asked about the influx of high-net-worth individuals into the emirate. End of 'YOLO effect' impacts luxury spending Winkelmann attributed the more moderate regional growth partly to a broader normalisation of the luxury market following a post-pandemic surge in spending. 'After COVID, there was this YOLO effect,' Winkelmann said, referring to the 'you only live once' spending surge. 'This bubble, which surprised all of us a bit, because the market was coming back sooner than expected… now has reached again a normal level.' The CEO disclosed that 2024 witnessed the first decline in the global high-end luxury market in years, with an estimated 8 per cent slowdown, though he characterised the current situation as 'stability' rather than crisis. 'If nothing is going south, we have now a stability on a level which is the one we saw last year. So a bit of a flattening curve, but not a crisis or a stable market we are foreseeing now,' he added. EV plans delayed to 2029 Winkelmann reiterated the company's decision to delay its first fully electric vehicle to 2029, a move first reported by Reuters in December 2024. At that time, Winkelmann told Reuters that 'the market will not be ready' for full electrification in the sports car segment in 2025 or 2026. In Dubai, the CEO expanded on this position, citing a 'flattening curve in the adoption of full electric cars' globally, particularly in the ultra-luxury segment. 'We see a flattening curve in the adoption of full electric cars globally, but also for the luxury market, even a bit more postponed,' he said. 'The market has to be ready; otherwise, even if you have the best car, but it's not in the mind of the customers, you're going not to succeed.' Lamborghini, a unit of Germany's Volkswagen, had previously planned to launch its first EV in 2028. The delay puts it further behind Italian rival Ferrari, which is set to launch its first electric model in late 2025. Record global performance Despite the moderation in Middle East growth, Lamborghini delivered an all-time high of 10,687 vehicles globally in 2024, breaking the 10,000-unit barrier for a second consecutive year with 5.7 per cent growth. The company's operating income rose 15.5 per cent to 835 million euros, maintaining a 27 per cent operating margin. 'Despite the difficulties in the automotive market and the highly competitive climate, in 2024 we recorded growth in all three macro-regions,' Winkelmann said in a statement ahead of the official March 20 announcement. The record performance follows an 18-month period during which Lamborghini completely renewed its product range with three new models: the Revuelto, a V12 hybrid supercar; the Urus SE, an updated version of its successful SUV; and the Temerario, featuring a redesigned engine.
