In calendar year 2022, the Italian super sports carmaker Automobili Lamborghini sold 9,233 cars worldwide, an increase of 10% over the previous year.
The Indian market, however, contributed just 1% to global sales, with 92 cars sold in 2022.
“But this number is a significant increase of 33% over a year earlier sales of 69 cars,” Stephan Winkelmann, chairman & CEO of Automobili Lamborghini, told FE over a video call.
Prior to that, Lamborghini India had sold 37 cars in 2020, 52 cars in 2019 and 45 cars in 2018.
“India is a tiny market in terms of size, but in percentage growth it is performing very well,” Winkelmann said. “India has high taxation on imported cars, and that is limiting the number of cars sold there. But more than that, I believe the biggest challenge is infrastructure, because there are global markets where taxation on imported cars is high, but because their road infrastructure is better, more people buy super-sports cars in those markets as compared to India.”
India imposes 100% duty on fully imported cars with CIF (cost, insurance and freight) value more than $40,000, and 70% on those costing less than the amount. Local registration charges are added onto that value.
China, on the other hand, levies 15% import duties on cars, down from 25% it used to levy until June 30, 2018.
That makes Lamborghini cars in India doubly as expensive as compared to most global markets.
Its cars — Urus, Huracan and Aventador, with their numerous variants — are priced on-road upwards of Rs 4 crore, and with customisation that most buyers opt for, prices can reach Rs 7-8 crore.
As far as global sales are concerned, the US remained in the top spot (2,721 cars delivered); followed by the Chinese Mainland, Hong Kong and Macao (1,018 cars); Germany (808 cars); the UK (650 cars); and Japan (546 cars).
In terms of models, the Urus Super SUV led the way with 5,367 units, followed by the Huracán (3,113 units) and the Aventador (753 units), which reached the end of its production run in September 2022.
Lamborghini is now readying its hybrid models and eventually will go electric. For that, it needs heavy investment and the year provided a good start for the same. It posted record-breaking figures in terms of turnover, which topped 2 billion euros for the first time with a 56% increase in operating income compared to 2021. “These figures come in a very important year, as we are entering the second phase of the Direzione Cor Tauri: an unparalleled investment plan that will guide our growth,” Winkelmann said.
Under Direzione Cor Tauri (Towards Cor Tauri — the brightest star in the Taurus constellation), Lamborghini is celebrating the combustion engine (2021-22) by presenting models paying tribute to the company’s recent period of success.
Then there is hybrid transition (by the end of 2024). In fact, in 2023, Lamborghini will launch its first hybrid series production car, and by the end of 2024 the entire range will be electrified.
Finally the first fully-electric Lamborghini will be launched in the second half of the decade.