Lamborghini had its most profitable year in 2020, despite its two-month closure of its Italian factory during the pandemic.
“We are amazed,” said chief executive Stephan Winkelmann.
While sales were slightly lower than last year, Lamborghini sold more expensive, customized supercars, pushing for higher profits.
Urus SUV Sales
China has developed much demand and will overtake Germany as its second largest market this year.
The new Lamborghini sports car (SUV) is called Urus and has been a huge success, accounting for 59% of the company’s global sales last year.
Chinese car buyers have made a bid for luxury SUVs from the likes of Roll-Royce, Bentley and Lamborghini.
“Urus is giving us peace of mind in terms of return on investment and also earnings, and the earnings are giving us the confidence to reinvest in the future,” Mr Winkelmann added.
The car manufacturer, which is owned by Volkswagen, sold 7,430 cars worldwide in 2020, following second only to 8,250 it brought in 2019.
But Lamborghini has seen revenue from its highly profitable “special series” brands.
“We have already covered with customer orders nine months of the year for 2021,” Mr Winkelmann said. “So we are looking at the year 2021 in quite a positive bent.”
He told CNBC: “It’s exactly like the stock market:the buyer’s spirits are up. They can’t wait to the moment to get out again and to enjoy life.”
Demand From China
China is expected to become the company’s second-largest market this year, replacing Germany for the first time. The US is the largest Lamborghini market, with 2,224 vehicles delivered by 2020.
The biggest challenge for the Lamborghini is the tightening of global carbon emissions regulations and switching to electric vehicles.
Lamborghini has not announced plans for an electric supercar, although an announcement could be coming in April.
“We have to anticipate also a change of mind of our customers and the enthusiasts as well. This is a very crucial moment for super sports cars, where you have to really set the marks for the future,” Mr Winkelmann added.
Responding to speculation that Volkswagen could sell the Lamborghini, Mr Winkelmann said “Volkswagen Group is the perfect match for Lamborghini”.
