Despite the negative impacts of Covid-19 in the world last year, Lamborghini was able to record a huge positive financial turnover.
Lamborghini 'Surprised' With Successful 2020
According to Stephan Winkelmann, the president and CEO of Automobili Lamborghini, “We were surprised. An ideal model mix and the growing customization of our products pushed profitability to the highest levels. In such a difficult year, the brand demonstrated great strength and continued its growing appeal, bucking the trend in the global luxury industry.”
Winkelmann infers that the Lamborghini Urus outsold low-volume supercars. Winkelmann also claims that the company has been making serious progress in 2021. According to him, “2021 opened with a very positive outlook: deliveries in the first two months of this year have already surpassed those of the previous pre-pandemic period, and the orders placed thus far already cover nine months of production.” Hypercar maker Bugatti posted a successful 2020 as well despite the pandemic.
Lamborghini failed to specify its specific operating margin or the percentage increase from previous years, but the accompany claimed to have ended the year with a financial turnover of $1.93 billion, which is 11% lower than its turnover in 2019. The company claimed that the decline was as a result of the 70-day production stoppages in spring 2020 which was in compliance with the Italian government’s directives and to protect the health of workers.
The company was able to handle the difficult period by utilizing careful cost management and ensuring continuity in the launch plan. Lamborghini isn’t the only giant company to experience a decline, Ferrari’s net profits decreased by almost 13% in 2020.
Incredible Figures For Lamborghini
In 2020, Lamborghini delivered 7,430 cars worldwide, which represents its second-best sales result ever. The year 2019 remains Lamborghini’s best-selling year, as the company delivered 8,205 cars. The United States of America remains the company’s top market as 2,224 cars were delivered there. A total of 607 cars were also delivered to Germany, despite the German government’s policies and huge incentives to promote eco-friendly cars. There were 604 cars delivered to Mainland China, Hong Kong, and Macao, while 600 cars were delivered to Japan, and 517 cars were delivered to the United Kingdom. Only 347 cars were delivered to Italy.
The company hopes to gain more profits by promoting its growth in China. Lamborghini started the year with a commercial launch of the new Huracan STO which was unveiled by Lamborghini at the end of 2020. The Huracan STO is expected to make huge sales in the United States of America and China.