The global economy is really heating up, at least in some segments. Take the world of automobiles; strong rebounds appear across every segment in terms of new car sales as well as the higher echelon of luxury and exotics. That's more than evident in Italian supercar-maker Lamborghini.
First quarter deliveries for 2021 hit an all-time record for the brand, which saw 2,422 cars delivered in Q 1, a 25% increase over the same number in 2020, but also 22% higher than the same period back in 2019, another record-setting quarter that was not affected by the pandemic. Stephan Winkelmann notes that while Q 1 was strong, the rest of the year could be even better.
We started the year with an order bank of pre-sold cars, let's say, of nine months covering the year 2021, he told Yahoo Finance. And now I can say that this is still even better after the first quarter, that we have 9 months of solid order bank for the year. So basically, the next nine months of production at the factory in Sant'Agata, Italy, is already spoken for, meaning that an order placed today would have a December date of January building date.
Q 1 was profitable for Lamborghini, and 2020 was actually a good year for Lamborghini too- it's the most profitable.
And this includes a factory shutdown earlier in the year due to COVID 9, not to mention Winkelmann joining Lamborghini as its CEO in the middle of the pandemic, following a successful run as its CEO from 2005 to 2016. The high-end luxury customer was n't nearly as affected by the pandemic, or at least this buyer recovered quickly.
And a vehicle they were buying after recovery was the Urus SUV. It is a game changer, the Urus, for us, because it more than doubled the sales volumes, Winkelmann says, and having the Urus the Lamborghini brand stable is a prerequisite to being successful, and to be able to invest in the future of our super sports cars like the Aventador and Huracn.
Speaking of these supercars, Winkelmann is most excited about the release of the upcoming Lamborghini Hurac n STO, which is basically a street-legal race car and the purest form of the Hurac n sports car that customers can buy.
While Winkelmann says the response to the STO has been very positive, as he looks to the future, changes will have to be made and brand will have to adapt.
And this all comes down to what the governments want here and abroad when it comes to emissions and reducing greenhouse gases, he said. We must adapt without jeopardizing our DNA- in other words, we have to change everything to continue to be the same as before, Winkelmann said when asked about electrification.
It's likely not exactly an easy subject to discuss when big-headed clients want these big V 12 and V 10 engines in the back of their sports cars. It's a tough task, but Winkelmann says in a few weeks all will be revealed when it comes to Lamborghini's future with regards to electrification and hybrid technology.
Fans of the brand are waiting with bated breath, but at the rate Lamborghini is going, they will likely be clamoring for more. After all, success is what Winkelmann has known over two different stints as Lamborghini's CEO since being able to lead that famous charging bull back to relevance.
Pras Subramanian is a reporter for Yahoo Finance.
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