Lamborghini has already sold all its cars until 2024

Luxury goods seem to be unaffected by global economic uncertainty

File photo

By AFP

Published: Tue 23 Aug 2022, 7:29 PM

Last updated: Tue 23 Aug 2022, 10:37 PM

Italian sports car maker Lamborghini has already pre-sold the entire production run to early 2024, its boss told AFP on Tuesday, with luxury goods seemingly unaffected by global economic uncertainty.

The Volkswagen subsidiary is enjoying "high demand" and has an order book covering the next 18 months, CEO Stephan Winkelmann said.

Wealthy customers are flocking to the brand despite the global financial fallout from the Ukraine crisis.

"We have more and more stepping into Lamborghini. Because they trust the brand, they see how beautiful the cars are, how (high) performing they are," Winkelmann said.

The global economy only has to "stay a bit stable" for that to continue, he added.

The long order times are also the result of a shortage of components, particularly chips needed for new electric models.

Lamborghini is planning a hybrid version of each of its models by 2024 and the first fully electric Lamborghini in the second half of the decade.

This is "a lot in just two years" and the company is doing "as much as we can, as fast as we can to keep all the things updated and rolling in a positive way", Winkelmann said.

Lamborghini in early August reported the best half-year in its history with record sales and profits.

The carmaker's operating margin reached 32 per cent, while operating profit jumped to 425 million euros on 5,090 cars sold.

Fellow luxury carmaker Ferrari also posted record results in the second quarter and raised its annual forecast, with orders at record levels.

In late July, the world's top luxury consumer goods group LVMH also reported a jump in sales and profits in the first half of the year despite the uncertain economic environment.

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