The CEO of Lamborghini believes that the market for exotic and ultra-luxury cars is experiencing a decline. However, this does not pose a significant concern for the Italian automaker. Models are already sold out and have long impressive waitlist for Lamborghini. Despite unfavorable conditions in the luxury vehicle market, Lamborghini is still projected to achieve another record-breaking year in terms of sales.
To mitigate the impact of market fluctuations, Lamborghini has introduced new models that have proven to be successful buffers. One such model is the Revuelto, which is the successor to the Aventador. The plug-in hybrid supercar has generated immense demand, with a 30-month waitlist according to the company’s CEO, Andrea Baldi. Additionally, the internal combustion versions of the Urus and Hurican are completely sold out until the end of their production cycle.
Softening market conditions:
Andrea Baldi acknowledges the softening market conditions but asserts that Lamborghini is protected due to their extensive waiting list. Customers who make a down payment and commit to the brand and dealer constitute this list. However, there are signs of change in the market, with fluctuations in used pricing for ultra luxury brands.
Baldi comments that Lamborghini and other luxury brands have witnessed readjustments in their resale values, indicating the market’s response to these changing circumstances.
One example cited by Baldi is the Aventador SVJ roadster. In the previous year, its valuation ranged between $1.1 million to $1.2 million. Presently, its value has declined to approximately $900,000. Nevertheless, this still represents a 50 percent increase compared to the original sticker price.
Golden Age of Lamborghini:
Despite the market challenges, Lamborghini is currently experiencing a “golden age” characterized by high demand and sales volumes. In the previous year, the company sold 9,233 vehicles worldwide. This growth trend has continued into the first half of 2023, the company has set its sights on selling over 10,000 cars globally.
In conclusion, The Italian brand remains unfazed by the softening luxury car market due to its sold out models and impressive waitlist for Lamborghini. While market conditions may have led to declining resale values, Lamborghini continues to experience high demand and record-breaking sales. The introduction of new models and the company’s commitment to delivering exceptional luxury cars has solidified their position in the industry.
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