Lamborghini to launch two new models in 2024, sees promise in India

Team OD Updated: February 23, 2024, 10:00 AM IST

Italian luxury sports cars manufacturer Lamborghini plans to launch two new models in 2024, revealed Stephan Winkelmann, Chairman and Chief Executive Officer of Lamborghini, in an exclusive interview with CNBC-TV18.

Winkelmann, while sharing a positive outlook for the company's future, said, "We would not have done a record year last year if we did not have a rock solid order bank for 2024." In January 2024, the carmaker, a subsidiary of Germany's Volkswagen, delivered a total of 10,112 sports cars and SUVs last year, up from over 9,200 vehicles in 2022.

He highlighted the United States as Lamborghini's biggest market, with equal distribution in growth across Asia-Pacific, Europe and the Middle East. He noted, "UK, Germany, and Italy are important markets, in Asia they're Korea, China and Japan." Winkelmann, turning his attention to India, described it as a "big promise for the future". He said, "India ranks 14th in our markets," and added, "Indians as a community.

The Europe, Middle East and Africa (EMEA) region saw the biggest increase in deliveries for Lamborghini last year, with a 14% rise to nearly 4,000 vehicles. Sales in the American region rose 9 percent to 3,465, while they grew 4 percent in the Asia Pacific region to 2,660. Discussing the electric vehicle (EV) market, Winkelmann acknowledged the challenges, stating, "Reduction of subsidies in certain nations has slowed down EV growth." He identified pricing, range and charging time as factors determining EV demand. He stated, "Sometimes legislation gets ahead of technology, EV growth will be slow but will come."

Winkelmann believes that the nature of legislation will determine the penetration of EVs. He said, "If you want to get to zero emission then EVs are the only way." He also mentioned synthetic fuel as an alternative, which will continue to pollute.

He acknowledged that in some countries, legislation has gone ahead of what technology can deliver and that some hurdles need to be bypassed by legislation. He emphasised that sustainability won't be stopping at the automotive industry; it's a matter for every type of industry.

Winkelmann concluded by stating Lamborghini's commitment to reducing emissions by 40 percent in the value chain by 2030. He described the road to electrification as the biggest challenge but expressed confidence in the company's flexibility to adjust to what's coming up.

Source/Credit: CNBCTV18

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