Lamborghini CEO Andrea Baldi bullish on brand's record sales
Italian automaker is sold out for a year
Lamborghini is charging like the bull on its logo.
The Italian exotic car brand set an all-time global sales record of 6,902 vehicles through the first three quarters of 2021 and is on track to break its best full-year result of 8,205 that was reached in 2019 following the introduction of its best-selling Urus SUV.
Sales dropped to 7,430 in 2020 due to the coronavirus pandemic, but Lamborghini North American CEO Andrea Baldi told FOX Business part of the spike is due to customers treating themselves with the money they didn't spend on travel last year.
"People are just excited to be out in the world again and to be able to buy these cars and drive them there," Baldi said.
Lamborghini currently sells three main model lines, the Huracan, Aventador and Urus, at starting prices ranging from around $220,000 to $520,000, along with limited- edition offerings that can sell for up to $2.5 million each, including the 112 Countach reboots it sold out of within days of its August reveal.
Given the automaker's high returns and relatively low volumes compared to other members of the Volkswagen Group, semiconductor supplies haven't been an issue for production, but its capacity remains limited.
"It will be even better if we are at industrial flexibility to catch up this demand and reduce the waiting time of the customers every time it jumps up that way, but then we have some constraints that you can imagine for a small manufacturer," Baldi said.
Baldi doesn't foresee the company adding too much volume, in an effort to retain its exclusivity, but would like to reduce the wait time, and production of the next generation of vehicles with hybrid powertrains coming in 2024 will be better matched to demand.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
One new initiative aimed at improving the customer relationship is the launch of a network of Lamborghini lounges separate from its dealers that are more like low-key private clubs where people can come to custom configure their cars and attend exclusive owner events.
Two are currently in operation in New York and Tokyo and Baldi said about 10 will be rolled out around the world.
"It's where we work with the most challenging customers and make sure they really have a special treat when they come here," Baldi said over the phone from the New York location.