(Bloomberg) — Automobili Lamborghini SpA reported file outcomes for the primary six months of 2024 as a lot of the remainder of the auto trade struggled with declining gross sales, lowered expectations and plummeting inventory values.
The Italian supercar maker delivered 5,558 autos by the top of June, producing income of €1.6 billion ($1.762 billion)—up 14.1% from the identical interval in 2023—and repairing a slight drop within the US within the first quarter of this yr. Working revenue reached a file €458 million in comparison with the primary half of 2023.
Throughout an earnings interview with Bloomberg on July 18, Chief Government Officer Stephan Winkelmann credited the corporate’s full order books and wholesome distribution worldwide to taking a “balanced” method in the case of electrical autos. That’s, harnessing the efficiency and tangible thrill of inside combustion engines with the diminished emissions supplied by hybrid expertise, reasonably than going full velocity forward into EVs.
“That is one thing which helps keep the emotion of driving the automobile whereas additionally supplying you with a lift when you’ve gotten to develop energy at low revs,” he stated.
This technique has thus far allowed Lamborghini to keep away from having to stroll again EV plans like Basic Motors Co. and Mercedes-Benz Group AG. The corporate has generated sturdy income and working revenue on the again of simply three fashions: the Urus SUV, the Huracán supercar and the Revuelto hybrid. The US stays the highest marketplace for Lamborghinis, with 1,621 autos delivered there thus far this yr, adopted by Germany (595); the UK (514); Japan (354); mainland China, Hong Kong and Macau (337); and Italy (268).
Order books on the corporate’s three fashions stay full, with the anticipated anticipate a Revuelto projected at greater than two years, Winkelmann stated. Wait instances for the Urus SE, a hybrid model of the bestselling SUV that Lamborghini unveiled in April on the Beijing Worldwide Automotive Exhibition, are anticipated to be a yr.
On July 23 the corporate launched the Urus SE to South Korea, “a rising market that’s crucial for us,” Winkelmann stated throughout a televised interview in Seoul to advertise. The nation was the automaker’s seventh-largest market final yr, receiving 434 autos—a file quantity of Lamborghinis bought there.
Lamborghini’s upbeat outcomes got here after Stellantis CEO Carlos Tavares advised Bloomberg Tv July 25 that “the auto trade is in turmoil.” Renault, Ford Motor, Nissan Motor, Tesla and Stellantis have all reported lackluster earnings. And Porsche AG minimize its outlook for the yr after taking its greatest intraday blow since its September 2022 preliminary public providing; guardian firm Volkswagen will report earnings on Aug. 1.
In August, Lamborghini will announce the V-8 hybrid successor to the Huracán throughout Monterey Automobile Week in Carmel, California, marking the completion of the hybridization course of throughout the model’s whole lineup.
Whereas the corporate has toyed with the thought of going electrical, even creating an idea EV, a absolutely electrical Lamborghini stays within the distant future, Winkelmann stated: “The hybrid is basically one thing which goes to remain for so long as potential from our viewpoint.”
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