‘India can become one of the top 10 markets for Lamborghini’

With product launches, its Indian arm seeks to maintain its lead over peers as well as grow in India.

By:February 11, 2020 8:00 AM

Buoyed by an impressive 15% growth in calender 2019, Italian luxury carmaker Lamborghini sees India with a huge potential. With product launches, its Indian arm seeks to maintain its lead over peers as well as grow in India. On a long-term basis, India can be one of the top 10 markets in the next few years for the Italian car major, Lamborghini India head Sharad Agarwal tells R Ravichandran in an interview. Edited excerpts:

How has been the performance of super luxury car segment in India?

The super luxury car segment in India has been growing in an erratic manner over the years due to constant changes in taxes/duties. With the increasing number of millionaires, the perception against super luxury car segment is gradually changing now. While the segment grew in 2018, it declined by close to 18% in 2019 to around 265-270 units. However, it has the potential to grow in coming years.

Can you shed some light on the performance of Lamborghini India in 2019?

Despite higher import duties and other challenges, Lamborghini India was the exceptional OEM (original equipment manufacturer) to register a strong 15% growth over 2018 with 52 units. Lamborghini India competes with the likes of Ferrari, Aston Martin, Range Rover, Rolls-Royce, Bentley and certain models of Porsche, BMW, Audi and Mercedes-Benz in the above `2.5-crore category in India.

What were the reasons for your strong growth in 2019?

The reason for us to report an impressive growth in 2019 was primary driven by new products. We have been probably one of a few OEMs to bring in new models to India as early as they get globally launched. The product launches have been aimed at creating excitement and gain demand while providing customers an unique experience. Moreover, we offer customisation in every product as per customer’s choice. We have over 30,000 combinations to choose from, through our lab. In fact, almost all cars being sold in India are customised ones. We have nearly eight models under three category — four under Avantedor, three under Huracan and one under Urus, which is the top seller for us.

Which region in India contributes more to Lamborghini’s overall sales?

Southern region has been the largest for us in India. It alone accounts for 50% of our sales and is growing annually. The primary reason is that economic activities and investments continue to take place in this part of country. The aspiration is also high to own Lamborghini brand. However, India still lags behind China, South Korea, Japan, Australia, Taiwan and Singapore, among Asia Pacific countries. We see a lot of room for us to grow in India.

What are the new products and growth projections for this year (2020)?

We are excited to announce Huracan EVO RWD (rear-wheel-drive) in India, right after its global launch 25 days ago. Taking the Huracan legacy forward, the new vehicle dynamics have been developed and refined to produce a car whose performance relies on the harmony between man and machine. Driving skills and the Huracan EVO’s RWD mechanics deliver perfectly balanced dynamics, physical feedback and a pure performance. We will be launching the Spyder version of Huracan EVO RWD in the second half of 2020. Though it is too early to project any growth for this year, we hope to do better than 2019 in India during the year.

Your short/long-term plans for India?

Globally, we have sold a little over 8,150 units in 2019. We want to see or make India as one among the top 10 markets for Lamborghini parent globally. But, we cannot fix any time frame at this point of time as we see India holds immense growth opportunities for us to grow year after year.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Auto News