By Giulio Piovaccari
MILAN – Italian luxury sports car brand Lamborghini can easily make up for lost sales from its decision to suspend business in Russia following Moscow’s invasion of Ukraine, Chief Executive Stephan Winkelmann said on Monday.
Winkelmann said Lamborghini, part of the Volkswagen Group through Audi, sold a record of around 200 cars in Russia last year, out of a record of 8,405 globally.
“The cars we have planned to produce for Russia this year can be easily absorbed by other markets,” he said in a web press conference.
“We’re waiting to see how the situation evolves in Ukraine, but if it does not change we’ll have no problem to absorb that demand, thanks to our strong order book and waiting lists.”
Lamborghini plans to start offering hybrid vehicles from next year and make its entire lineup – the Huracan and Aventador sports cars and the Urus sport utility vehicle (SUV) – plug-in hybrid between the end of 2024 and 2025.
Its first full-electric vehicle will follow in the second half of the decade. Its production is expected to take place at the brand’s historic headquarters near Bologna, northern Italy, Winkelmann said.
“There is room here to increase production,” he said, without providing a target on Lamborghini future car output.
The carmaker will present during this year two new versions of the Huracan and a ‘face lift’ of Urus, Winkelmann said.
Lamborghini posted a margin on its operating profit of 20.2% last year versus a target of between 22%-25% for the coming years, the CEO said.
(Reporting by Giulio Piovaccari; Editing by Bill Berkrot)