Lamborghini makes record profits amid COVID-19 lockdown
Lamborghini recorded high profits in 2020 despite a mandatory two-month factory shutdown because of the COVID-19 pandemic.
The luxury car brand delivered 7,430 cars in 2020, down only nine per cent from the records it made in 2019. Profits increased due to customers ordering more pricey, highly customised cars.
Lamborghini CEO Stephan Winkelmann told CNBC the company already had nine months of orders booked for 2021.
“It’s a bit like with the stock markets,” Mr Winklemann said. “The buyer’s spirits are up. They can’t wait for the moment to get out again and to enjoy life.”
Lamborghini (owned by Volkswagen Group) gained from its $220,000 SUV model, the Urus.
The company’s total production doubled since it started delivering the Urus in 2018, accounting for 59 per cent of the firm’s sales worldwide last year.
For the first time, China is expected to become the company’s second-largest market this year, replacing Germany.
The U.S. took delivery of only 2,224 cars in 2020.
Though the brand has not made any official announcements for an electric car model, Mr Winkelmann hinted that announcements could be coming in April.
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