Lamborghini sees tariff threat to US volumes after strong 2024 results

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Reuters

Thu, Mar 20, 2025, 12:03 AM 2 min read

MILAN (Reuters) - Potential U.S. tariffs connected European-made products could deed gross astatine Lamborghini, its CEO said, arsenic the sports carmaker posted beardown results for past year, contempt a contraction successful the luxury market.

The Italian carmaker, portion of the Volkswagen radical (VOW3.DE), said connected Thursday its revenues roseate 16% past twelvemonth to 3.09 cardinal euros ($3.31 billion), portion its operating nett was up 15.5% to 835 cardinal euros, topping the 800 cardinal euros threshold for the archetypal time.

Chief Executive Stephan Winkelmann said the institution present had an bid publication covering 18 months and its purpose was to sphere it successful coming years, to execute "controlled growth", arsenic imaginable U.S. tariffs could adhd further uncertainty to an already contracting luxury market.

Lamborghini sold a grounds 10,687 vehicles past year, with astir 3,000 units successful the United States, its azygous largest market.

Asked astir the automaker's quality to walk connected imaginable U.S. tariffs to car buyers to sphere margins successful the country, Winkelmann said successful a media telephone that determination was a "sweet point".

"If you spell beyond that you suffer volumes, that is simply a fact," the CEO said. "We request to measure what our competitors bash and however American clients react, but determination is simply a hazard connected volumes for sure."

Winkelmann said the wider luxury car marketplace saw a 10% contraction past twelvemonth versus 2023.

"Our feeling is that a post-COVID bubble is over," helium said.

"While specified abrupt maturation successful our marketplace was unexpected, we knew it could not past forever. In peculiar determination has been a contraction successful the Chinese (luxury) market. Our marketplace is present stabilising".

Lamborghini's maturation has been accompanied by 1,000 caller hires successful the past 2 years, with a 30% summation successful the company's nonstop workforce.

British luxury automaker Bentley, besides owned by Volkswagen, connected Wednesday posted its lowest yearly gross since the COVID pandemic struck successful 2020.

Lamborghini, which plans to motorboat its archetypal fully-electric exemplary successful 2029, present has an wholly hybrid three-model line-up, with the Urus SE SUV, the Revuelto sports car and the caller Temerario sports car, whose archetypal deliveries are expected betwixt the extremity of this twelvemonth and aboriginal 2026.

Selling prices for Lamborghini cars commencement from implicit 260,000 euros. ($1 = 0.9341 euros)

(Reporting by Giulio Piovaccari; Editing by Keith Weir)