Last February, Lamborghini’s manager for the Asia Pacific region, Christian Mastro, predicted a cooling in the Chinese market
at a time when other luxury brands were still bullish on increasing sales there.
It turns out that Mastro was right, and Lamborghini is seeing decreasing demand for its supercar products in both China and Europe. Lamborghini’s CEO, Stephan Winkelmann, confirms this, admitting to Bloomberg TV
that demand for ultra-luxury cars won’t grow in 2013.
Despite this, Winkelmann remains optimistic for the future. The U.S. economy, Winkelmann believes, is showing signs of recovery, and the number of millionaires in India is expected to double by 2015. Sales in Singapore and Hong Kong remain strong, so Lamborghini will be targeting buyers in these markets to make up for slowing sales in China.
Demand for the range-topping Aventador remains strong, with buyer still facing an 18-month wait list. A replacement for the aging Gallardo and a topless variant of the Aventador
will likely help invigorate sales, as will upcoming supercars (like the McLaren P1
, the Porsche 918 Spyder
and the Ferrari F70
) from rival manufacturers.
Lamborghini parent Volkswagen isn’t quite as optimistic on market potential as Winkelmann, and word is that the Urus SUV
has been put on hold until the global economy shows signs of improvement. Will that limit Lamborghini’s growth in the coming years, especially in markets like China and India? The Volkswagen Group is betting the answer is no.