Lamborghini eyes double digit growth in 2020

Mumbai: Sustained demand for Urus SUV and several new cars lined up for 2020, has spurred Italian super sports car maker Automobili Lamborghini to target double digit growth in a falling super luxury car market for those priced above Rs 2.5 crore.
Lamborghini retailed one vehicle every week in India and crossed 50 units annual sales mark for the first time in 2019. The company registered a healthy growth of over 15% in a market that declined over 18%.

Matteo Ortenzi, CEO of Asia Pacific region at Automobili Lamborghini told ET, the growth in India matched the growth for the brand around the world. With the new Urus and other new additions during the year, Ortenzi expects the momentum to sustain.

"Despite the low volumes, India remains a key strategic market for the brand, given the sheer size of billionaire population of the country. We expect the market to take off in the years to come and our strategic vision is to see India breaking into top five markets in APAC region and top 10 markets globally in the years to come," added Ortenzi.

The company has already cornered a fifth of the overall super luxury car market in India at the end of 2019 with a rise of 4% market share. A 20% market share is amongst the highest share enjoyed by the brand in a high-end market priced above Rs 2.5 crore, better than its rivals Ferarri, Aston Martin or Bentley.

Driven by huge demand for super sports utility vehicle Urus, Lamborghini is eying global volumes of 8000 units per annum.

Launching the new Hurucan Evo, rear wheel drive (Rs 3.22 crore), Sharad Agarwal, head of Lamborghini brand in India, said the market was tough last year, yet the brand registered a healthy growth in 2019.

"The sentiment is much better when compared to six months ago. The discussions with customers are more frequent. In the recent months, the interest to buy is increasing. We expect the year to be better for the market and we seek to outpace the market," Agarwal said.

The company has set itself a target to sell over 60 cars in 2020 and along with the new Hurucan Evo rear wheel drive, the company plans to add a couple more new products, which will sustain the excitement for the brand.