Supercar brand Lamborghini has continuously been growing in India despite various ups and downs in the super luxury segment, and 2021 is going to be another record year for the company in terms of sales amid Covid challenges, says Sharad Agarwal, Head of Lamborghini India. Agarwal says in order to drive growth, the Italian automaker wants to bring new models in the country at the same time when it starts delivering those to its customers in other parts of the world. Excerpts:
Lamborghini has recorded its best half year ever by delivering 4853 vehicles globally in the first six months of 2021. What is its performance in terms of sales in India during this period?
We said at the beginning of the year that 2021 is going to be another record year for our business performance in India. And, we are comparing the base from 2019, because 2020 was a tough year we all know. It had different challenges. We have a track record where we were consistently growing in the market. We want to grow our business over 2019 in 2021. If you look at our performance in the first half of this year, we are right on track. We are at more than 50% of the goal and we are confident that this is going to be another record year in our business.
In 2019, the company had sold 52 vehicles in India. So, do you expect that the company would be able to surpass that figure in 2021?
Absolutely. That is why we are saying that this is going to be another record year for us. So we will do better than 2019.
What are the factors that will lead to an increased sales despite ongoing second wave of Covid-19?
Yes, we know that there is a challenge which is coming in terms of Covid. But what also we are seeing that the super luxury segment is more about the dreams and aspirations of people. And, these dreams and aspirations are not changed even when you have a scenario like pandemic.
And also, if you look at the segment in India, it is still in its infancy and it has not grown to its potential. If you look at the super-luxury segment in India, in 2018, there were about 320-325 cars sold all brands put together. In 2019, the segment declined and sales were about 265-270 cars. In 2020, because of the Covid, the segment further declined, when around 180 cars were sold. This year what we are expecting is that the segment can come back to at least around 2019 level.
So, it may still not go back to its pick and we may not see growth over the pick. Then, if you look at Lamborghini, it has been continuously growing in this market despite of various ups and downs that you have seen in the super luxury segment. And this is the trend which we want to continue with the brand and business in India. So, that is why we want to return back to growth this year. 2020 was the only year when we saw some aberrations because of the external factors. And, why we are saying that we will grow consistently because we see that there is a huge potential in the market. Even we look at the pick of 320-325 cars in 2018, we believe that it does not truly reflect the potential in the country. Because it is very, very small for a country like India. As a brand, we believe India has a huge potential and we are working on our key strategic pillars to drive the growth in the market. We are market leader in the super luxury segment.
What are these strategic pillars for the company to drive growth in India?
We are working on two key pillars — one is how can we bring the new models faster to the market. So, we want to bring the new Lamborghinis at the same time when we start delivering the new models to our customers in other parts of the world. When we launched Urus (super SUV), India was the top five markets to launch the car. With Huracán EVO, we were the first market in the world to launch the car. So, we are bringing new models faster to the market. We are launching our new model Huracán STO in six cities in the country. The second key strategic pillar on which we are working is how do we create experiences for our customers in India so that they can enjoy their Lamborghinis in Indian environment.
At present what percentage of cars are being sold in tier I and II cities?
Currently 25% of our business is coming from tier I and tier II cities. I think if we go back to four-to-five years, this was a single digit number.
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