- Strong growth in Middle Eastern and major Asian Markets
- Strongest growth in China
- European Sales stable with growth in Italy and France
- No abandoning of long-term strategic and product plans
In spite of worldwide financial and economic turmoil, Automobili Lamborghini
S.p.A. has delivered another historically very strong year in 2008. The Italian
luxury sportscar manufacturer increased unit sales from 2406 to 2430. This
means a growth of 1%.
Weaknesses in major traditional markets where more than offset by growth in
other markets as well as in new and emerging markets.
The US market saw a decrease of 20.3% with 741 units sold instead of 930 the
year before. The US share of worldwide sales decreased from 38.7 to 30.5%. In
Europe, sales remained stable. While traditional markets like Germany and the UK
showed relatively small single digit decreases, sales in the Italian homeland of the
brand of longstanding tradition increased by 10% to 230 units sold. This sales
growth pushed Italy into the position of second largest market in the world. Good
performances were also recorded in France, which showed growth rates of 27%.
The strongest growth rates were achieved in the Middle Eastern and Far Eastern
Asian core markets. The Middle Eastern region achieved a sales increase of 66%
from 100 to 166 units sold. In the Far East, China more than doubled its sales
from 28 to 72 units sold with an increase of 157%. Additionally, Hong Kong and
South Korea showed high triple digit growth rates of 120 and more than 100%.
The worldwide share of the Middle Eastern and Far Asian sales increased from
15.0 to 21.8%.
“In the light of worldwide economic insecurities and sluggish car markets, this
new record year above all proves the sustainability of our business strategy. We
know that there are tough times ahead now, but we have increased the value and
attractiveness of our luxury brand in so many facets that we are ready to take on
whatever challenges the future might bring us”, said Lamborghini President and
CEO Stephan Winkelmann.
With the youngest and most attractive product line-up in the company’s 46-year
old history, with one new model launched every year, with the consistent
expansion into new markets of the highest potential like the Middle East and Asia,
Automobili Lamborghini has managed to show a strong above-market growth
rate in recent years.
The company’s development marks one of the most respected turn-around
projects in the automotive and luxury industries. Amongst other factors like a
very positive brand image development the workforce has strongly increased in
only four years.
Long before approaching 2009, the company has taken decisive steps to be well
prepared for volatility in demand. Production flexibility is made possible by
cooperative concepts developed with the union representatives. Besides flexible
working hours, it is agreed to also encompass the option to change work time
into training and qualification projects.
Lamborghini does not abandon its long-term strategy. Investment into R&D will
not be reduced, as there will be ongoing expansion of the brand presence on a
worldwide scale. The company sticks to its development of one new model each
year. The latest example of this confidence is the announcement of the new
Lamborghini Gallardo Spyder LP 560-4. Lamborghini is confident to become the
most profitable luxury sportscar manufacturer, the most attractive employer in
its segment.
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