As central banks hike rates and inflation forces most consumers to trade down, Lamborghini reports it is not being affected in the least.
Based in Sant’Agata Bolognese, the Italian supercar maker has orders on the books out to 2024, equal to about 18 months of production, according to CEO Stephan Winkelmann in an interview with Bloomberg Television.
Winkelmann said “With high interest rates and high inflation, we’re still going strong. With the prices of energy skyrocketing, especially in Europe, we have not seen any slowdown yet.”
Lamborghini reported it just had the best first half in the company’s history, delivering 5,090 units globally through June, an increase of almost 5% from one year prior. Even more impressive, the company reported a 70% surge in operating profits. 61% of its sales during that period were for the company’s SUV, the Lamborghini Urus, which has seen more demand than even the company’s iconic supercars.
The Volkswagen AG-owned carmaker also reported its energy prices have more than doubled, however it added that it does not expect any major price increases next year.