Lamborghini had a record run last year not just globally, with over 10,000 cars sold, but also in India where it crossed the 100-unit sales mark for the first time. Speaking to our sister publication Autocar Professional recently, Stephan Winkelmann, CEO of Automobili Lamborghini said, “India is still a small market, but it's developing very fast.”
While the volumes may be modest, India is often discussed at Lamborghini's headquarters in Bologna, and the company keeps a close eye on the development of other luxury product categories like fashion, watches and accessories to track the trend amongst the Indian youth.
Nearly 200-unit order backlog in India
Consider this. The Revuelto's order book is shut for the next three years, it has orders for the Urus plug-in hybrid till 2025 and the current Huracan is sold out till the end of production. The bookings for the PHEV version of the Huracan will be opened in Europe at the end of the summer.
The company currently has an order book of almost 20,000 units globally, and in India, the majority of its cars are booked until 2025. This translates to an order book of over Euro 6 billion (over Rs 48,000 crore) globally, and in India, sources say that there are 200 orders pending.
A landmark of 10,000 units annual sales in 2023 was not by "chance or pushing," says Winkelmann. The core focus has been on building the brand. In some markets, the residual value of the brand is higher than the acquisition price, so the car appreciates because of scarcity and waiting time.
While there is a long wait, Winkelmann assures that the company will ramp up capacity if needed. "Ideally, the waiting should be more than a year; today, we have a waiting list that’s a bit too long, but it is still better this way than a short one. We could add more capacity, but we are not pushing volumes. We want to have the right balance. If the market is stable and growing, we will adapt our capacity,” he added.
Lamborghini to add another dealership in India
Francesco Foscini, head of sales at Lamborghini, says that the market is ripe for future growth given the rising number of millionaires in India and the growing economy. “India is amongst the top 5 biggest economies; it will soon break into the top 3 or 4. The market has remained modest due to high taxation, the saving culture and the quality of roads.”
"We are taking the right steps. The target is to grow year on year in a rational and responsible way, and not try to overshoot," he added.
Lamborghini currently has three dealers, and Foscini says he sees the potential to add another dealership in India.
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