Lamborghini — There are plenty of luxury cars on the market for those who can afford them, but the wealthy appear to be more inclined towards Lamborghinis.
The Italian luxury sports car brand has been a symbol of wealth for the past two decades, and its popularity seems unlikely to die down in the near future.
Every so often, the company releases a unique and limited edition variant.
Recently, a hybrid supercar reached a staggering $600,000 buyout, which is positive news for the brand as it suggests the brand’s future is in safe hands.
Lamborghini CEO Stephan Winkelmann revealed that its latest hybrid supercar underwent a quick sellout.
For Winkelmann, the purchase is proof that wealthy car buyers are still spending.
The company already has a waiting list for the Revuelto, Lamborghini’s first ever plug-in hybrid that launched in March.
Furthermore, the luxury sports car brand has two years worth of order for the hybrid supercar.
The globe is experiencing an economic meltdown as financial markets are going through a turmoil, while recent months have also seen banking systems hitting a shakeup.
Despite the ongoing chaos, the orders still came through.
“The resiliency of our customers, with everything that is happening in the last 24 months, is incredible,” said Winkelmann.
“We don’t see any slowdown in order intake for buying cars like ours.”
The pouring orders for the Lamborghini Revuelto and other supercars show the continued strength of the wealthy consumer amid slowdowns in other segments of the consumer economy.
Data also revealed that the share price of Ferrari is up by 27% in 2023, flying high on the back of continued demand for trophy cars, particularly in the United States.
In 2022, several luxury car brands reported record sales and production, including:
- Rolls Royce
Production and the new landscape
Lamborghini hit a record manufacturing of 9,233 vehicles worldwide in 2022, an increase of 10% compared to the year before.
Despite the good news, Stephan Winkelmann is wary of counting his chickens before the eggs hatch, saying it’s too early to anticipate production in 2023.
However, if the orders continue at the same pace of the first quarter, Lamborghini could either match or go beyond last year’s record.
Regardless, the greatest challenge imposed on the luxury sports car manufacturer is how it can define its brand in an age where electric cars have been the consumers’ choice.
Supercars are prized for their powerful, thunderous engineers, but makers have shifted their strategies.
Instead, they are focused on developing silent, high-performing electric vehicles that can be distinguished from other brands like Tesla, allowing them to command higher premiums.
After the launch of the Revelto, Lamborghini has made it a goal to launch every model as a hybrid.
Plug-in versions of the Urus SUV and Huracan sportscars are expected to hit the pavement in the following years.
Additionally, Lamborghini is looking to launch its first fully electric model between 2028 and 2029.
The launch of the Revuelto indicates that Lamborghini is moving to a new direction.
The luxury sports car manufacturer has designed the hybrid vehicle to become the best of both worlds, installing three electric motors with a new 6.5 liter, naturally aspirated V12 engineer to create a combined horsepower of 1,001.
The hybrid has a top speed of over 217 miles per hour, and it can go from 0 to 62 mph in under 2.5 seconds.
The hybridization allows the Revuelto to be 30% more fuel efficient.
According to car collectors, part of the appeal in the latest Lamborghini model is owning one of the last generations of V12 supercars sold and built.
“The team worked hard on this car for years,” said Stephan Winkelmann.
“The reception of the customers is positive in two ways, because on one hand, they recognize it’s a true Lamborghini. And on the other side, there is no fear about having a hybridized car.”
The Lamborghini CEO also said the Revuelto is likely to sell well, if not better than its top-of-the-line Aventador model, which the Revuelto is replacing.
The luxury car manufacturer has sold over 10,000 Aventadors over its endeavor.
Winkelmann said the demand has been particularly strong in the United States, the brand’s largest market.
However, the China market remains unknown as the country only recently reopened from lockdown.
South Korea witnessed an explosive demand in 2022, while Australia and Central Europe have also been strong.
“In the US, California, Florida, Texas, and the Northeast are always good for positive surprises,” said Winkelmann.
The Revuelto will undergo production in the second half of 2023, with the first cars making their way to the United States in the fourth quarter.
“And then next year, we go full speed and we will see how the market is moving,” said the Lamborghini CEO.