“Revenge Spending” cleans Lamborghini for most of 2021

“Revenge Spending” cleans Lamborghini for most of 2021

Lamborghini has said it is almost sold out for a year as calming the pandemic opens up a free-spending stance among consumers who have been restricted from home for months.

The Italian super car brand will see “significant growth” in 2021 and has been sold out of production capacity for 10 months, CEO Stephan Winkelmann said in an interview at the Monza Motor Show in Milan. The Volkswagen AG unit showed the Huracan on an STO outdoor ride near the Duomo Cathedral of the fashion center around the world.

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“Despite being closed for two months as a result of the pandemic, Lamborghini ended 2020 in its second-best year,” said Winkelmann, a crowd that included more than 60 brands on the show including Ferrari NV, Porsche and McLaren Automotive Ltd. A sign of a return to normal life in major cities like Milan. Lamborghini shipments rose nearly 25% in the first quarter.

As buyers continue to pull out performance cars like the track-adapted Aventador, Lamborghini is embarking on a transition to electrifying its lineup. It is registering 1.5 billion euros ($ 1.8 billion) to offer plug-in hybrid versions of each model by 2024 and plans to launch the first battery-only vehicle in the second half of the decade. Manufacturers of super cars like Ferrari and Lamborghini have been making machines with a history marked by strong EV engines.

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“Lamborghini doesn’t want to be the first engine at all costs,” Winkelmann said. “In electrification, we have to choose the right time when the market is ready and we think we can really be the best.”

VW ended deliberations on a possible sale or listing of Lamborghini at the end of last year to better target the Audi and Porsche division, which are key drivers of its profits. Winkelmann confirmed that the brand was not for sale when it announced last month that VW had received a € 7.5 billion offer. They said there was no plan to list Lamborghini, which increased revenue by 5.4% in the first quarter to 509 million euros.

This story has been published without text changes from a wireless agency feed.

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