Lamborghini customers have been waiting for a car for more than 12 months, CEO says

The wait time for a new Lamborghini SUV or supercar is currently more than 12 months as demand from wealthy car enthusiasts shows no signs of slowing down, the automaker’s chief executive told CNBC Wednesday.

Despite stock market volatility and growing economic uncertainty, demand for Lamborghini cars is “higher than ever,” said Stefan Winkelmann, Lamborghini’s CEO.

“It’s incredible,” Winkelmann said. “It is difficult to make predictions about what will happen before the end of 2022. But speaking to customers, speaking to all of our executives, we don’t see any slowdown in terms of orders.”

The result was a waiting list that now stands at more than 12 months. Before the pandemic, the typical waiting list for Lamborghini was six to nine months. Asked if the company’s waiting list will return to “normal” and ever return, Winkelmann said demand for high-end cars may have fundamentally risen to a higher level, given the sheer amount of wealth created over the past two years. of the year.

“We see more and more people around the world who are able to buy a car like ours,” he said. “After the pandemic, people wanted to reward themselves. And we have markets that have been flooded with money. I think we are on a very high plateau. I don’t know if this is the new normal.”

In addition, Lamborghini has become a favorite of young rich people who made their newfound fortunes from cryptocurrencies, stocks, technology companies and legacies. Winkelmann said 70% of Lambo buyers will be under 40 in 2025.

“We are definitely seeing a shift towards much younger customers,” he said.

Stefan Winkelmann, CEO of Lamborghini

Credit: Lamborghini

Lamborghini posted record profits and production last year, driven largely by its Urus SUV. Sales increased 19% to $2.1 billion and 8,405 vehicles were delivered, up 13% from 2020, including sales of 5,021 Urus models, 2,586 Huracans and 798 Aventadors.

Winkelmann said production hasn’t slowed down this year due to supply chain issues as the company gets priority for chips and other parts from parent company Volkswagen. He said that production this year should be even higher than last year.

“We have improved our production, so we believe we have improved output,” he said. “We will see. But it’s definitely a possibility.”

Due to long waiting times, some dealerships charge customers five- and six-figure surcharges to get cars that will be available sooner, either by canceling other customers or by demo models. One buyer told CNBC he paid $100,000 to get the Urus within a month instead of waiting.

Winkelmann said the company is doing its best to control pricing practices and prevent “phantom orders” from dealers. But with many used Lamborghini now priced at 140% of the price of a new sticker, the profit temptation for dealers with vehicles available now remains strong.

“We do not share this view that people are allowed to pay for stickers,” he said. “When we talk to our partners, our dealers, we always make our position very clear.”

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