Lamborghini to launch two new models in 2024, sees India as a promising market for the future

Lamborghini to launch two new models in 2024, sees India as a promising market for the future

Italian luxury car manufacturer Lamborghini plans to launch two new models in 2024, revealed Stephan Winkelmann, Chairman and Chief Executive Officer of Lamborghini, in an exclusive interview with CNBC-TV18.

Winkelmann, while sharing a positive outlook for the company’s future, said, “We wouldn’t have made the record last year if we didn’t have the rock bank for 2024.”

In January 2024, the carmaker, Volkswagen’s German subsidiary, delivered a total of 10,112 sports cars and SUVs last year, up from more than 9,200 vehicles in 2022.

He highlighted the United States as Lamborghini’s biggest market, with equal distribution in growth in Asia-Pacific, Europe and the Middle East. He noted, “England, Germany, and Italy are important markets, in Asia it is Korea, China and Japan.”

Winkelmann, turning his attention to India, described it as “great promise for the future”. He said, “India ranks 14th in our markets,” adding, “Indians as a community

The Europe, Middle East and Africa (EMEA) region saw the biggest increase in deliveries for Lamborghini last year, rising by 14% to almost 4,000 vehicles. Sales in the Americas region rose 9% to 3,465, while they grew 4% in the Asia Pacific region to 2,660.

Commenting on the electric vehicle (EV) market, Winkelmann acknowledged the challenges, saying, “Subsidy cuts in some countries have slowed EV growth.” He identified price, range and charging time as factors that determine demand for EVs. He said, “Sometimes the law is ahead of the technology, EV growth will be slow but it will come.”

Winkelmann believes that the nature of the law will determine the penetration of EVs. He said, “If you want to achieve zero emissions then EVs are the only way.” He also mentioned synthetic oil as an alternative, which will continue to pollute.

He acknowledged that in some countries, laws have preceded what technology can provide and that other limitations should be ignored by laws. He emphasized that sustainability will not stop in the automotive industry; it’s an issue for all kinds of industries.

Winkelmann concluded by explaining Lamborghini’s mission to reduce greenhouse gas emissions by 40 percent in the value chain by 2030. He mentioned the power supply system as a major challenge but expressed confidence in the company’s flexibility to adapt to what is coming.