Lamborghini sees ‘huge’ growth opportunity in India as number of HNIs rise

Italian supersports luxury carmaker Lamborghini sees a "huge opportunity" of growth in the country thanks to the rising number of ultra high net-worth individuals who are driving demand, the brand's Chairman and CEO Stephan Winkelmann told PTI.

File photo of Lamborghini logo used for representational purpose only (Bloomberg)
File photo of Lamborghini logo used for representational purpose only

The company posted a record sales of 69 cars and a growth of 86 per cent in 2021 in the country, and is also mulling on introducing hybrid vehicles in the country as part of its global strategy towards electrification. “I think in India there's a huge opportunity for growth, because there's a big wealth around the Indian market, and we will see how this is developing," Winkelmann said.

He added that Lamborghini had one of the highest growth in terms of percentage last year, so there also are opportunities for the future. “What we can see in the Indian market is that we have more and more ultra high net-worth individuals entering the market," he added.

Also Read : Lamborghini can make up for lost sales in Russia through other markets, says CEO

Considering the results of last year and the demographic situation of the Indian market, there are young wealthy people entering the market and wealth in general. "We think that there is a growing demand also in the Indian market in years to come," Winkelmann said in the interaction.

The company is also working towards electrification of its vehicles globally by first going hybrid followed by full electric cars in the second part of the decade. In India too, though the company plans to roll-out hybrid vehicles, Winkelmann said that the exact timeline is not yet available. “This is not only valid for India, but this is a general issue we are still evaluating," he added.

However, considering that the Indian government policy favours fully electric vehicles and not hybrids, Winkelmann said, "We have other markets where it's easier to have (hybrid vehicles) in terms of legislation, but we have to find a right balance between what is the task of the government and the demand of our customers."

First Published Date: 27 Mar 2022, 13:47 PM IST
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