Lamborghini targets young, super rich in India to boost sales

Sep 23 2013, 17:26 IST
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Stephan Winkelmann, CEO of Lamborghini, speaks with the media next to a Lamborghini Gallardo LP 550 during an opening ceremony of a new dealership, in New Delhi September 23, 2013. (Reuters) Stephan Winkelmann, CEO of Lamborghini, speaks with the media next to a Lamborghini Gallardo LP 550 during an opening ceremony of a new dealership, in New Delhi September 23, 2013. (Reuters)
SummaryThe company is targeting to sell over 20 cars in the country as compared to 17 units last year.

Italian super-luxury sports car maker Lamborghini is looking to tap the growing number of high net worth individuals in India to almost double its sales in the country in the coming few years.

The company, which opened its second dealership in India here, plans to add a third one in Bangalore for which it is in discussions with a local partner.

"The high net worth individuals, who are our target customers, are fast growing in India... In the coming years, we expect our sales here to be about 30-40 units a year," Automobili Lamborghini SpA President and CEO Stephen Winkelmann told reporters here.

This year, he said, the company is targeting to sell over 20 cars in the country as compared to 17 units last year. In India, Lamborghini sells two model range Ė Gallardo and Aventador, which are priced between Rs 2.8 crore and Rs 6.30 crore (ex-showroom Delhi).

Among the major customers of the company in India are first generation entrepreneurs aged 30-40 years and second generation businessmen, he added."Customers in India are one of the youngest in our global markets, much younger than those in Europe," he said. Winkelmann, however, said the infrastructure and taxation in India were major hurdles.

"More Indian nationals buy our cars abroad, specially in Europe... Here in India the traffic, road condition are not so suitable," he said.

When asked if the overall slowdown in the auto industry has affected the company's sales, he replied in the negative and said the company is optimistic of increasing its sales in India. "We are in the niche super sports car segment, it is disconnected from the general car market. The high-end is not so much impacted," he said.

Despite the challenges, Winkelmann said Lamborghini is working to expand its presence in India. "At present, we are in discussion for a third dealership. Bangalore is the city where we intend to open," he added. Globally, this year the company is looking to sell more than 2,000 units it sold last year, he said without disclosing exact numbers. US and China are the top two markets for the company, followed by the Middle-East, UK and Japan.

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