Uncertainty about tariffs has kept even the wealthiest buyers of Lamborghini supercars down purchases, CEO Stephan Winkelmann told CNBC.
The White House recently announced an agreement with Europe on a 15% tariff rate, but that rate has not yet occurred on cars. Lamborghini and other European automakers are paying a 27.5% tariff rate on exports to the US, at prices of Lamborghini starting at $400,000. Many buyers choose to wait for a more stable tariff fee before purchasing.
“Some people are waiting because they want to make sure this is the final number they’re in place,” Winkelman said. “Other people are fine with that, otherwise we’ll have negotiations.”
But wherever the final tariff charges have settled, Winkelmann said taxation will have some impact on the company’s business. He said Lamborghinis cannot be produced in the US because the promise “made in Italy” is at the heart of the brand. And he said that even wealthy people are sensitive to rising prices.
“They are billionaires or billionaires for reasons, so they know what they’re doing and why they’re doing things,” he said. “For us, free trade is the right approach. We all know that it’s what we want. But there’s a reality and we’re in business, so we have to deal with the complexities. …We’re ready to face what’s coming.”
For now, the company has a large backorder, which makes it quite isolated from the immediate drop-off of demand. The cars delivered today were ordered a year or two years ago. Lamborghini announced to dealers this summer that the Temerario and Urus models will see prices rise by 7% and Revuelto 10%.
Owned company VolkswagenThe Audi Group is also riding higher from the waves of new models. It reported record revenue of 3 billion euros ($3.5 billion) and delivery of 10,867 vehicles in 2024. Three new models have been released since 2023. All plug-in hybrid: 8-cylinder Temerario to replace the Harakan. A 12-cylinder revuelto replaces the Aventador. Urus SE, hybrid SUV.
For the upcoming fourth model, Lamborghini has unveiled all-electric grand touring cars that will debut in 2028. However, Winkelmann is considering releasing it as a hybrid instead due to slowing demand for EVs, and will decide by the end of the year.
“It’s flattered to accepting electric cars not only in the high-end and exclusive supercars, but also in the general market,” he said. “So this trend will generally be lagging behind. We need to make a decision. For a car like the Lamborghini, being the first car to show new technology is not important, but being there when it’s accepted at the time is not important.”
Last week, during Monterey Car Week, Lamborghini unveiled a new limited-edition supercar called the Phenomeno. It is the fastest and most powerful Lambo ever, boasting 1,080 horsepower and 0-60 in 2.4 seconds, combined with a 6.5-liter V-12 engine and three electric motors.
Lamborghini only makes 29 phenomenos, part of what Winkelman calls the “countless” strategy of the super rare and hyper-performance version of its current lineup for top clients.
Also support the company: The surge in wealth around the world is becoming younger and more diverse. Lamborghini owners have an average of five cars in their garage, while expensive Lambor owners have an average of 10 cars. He said the average age of Lamborghini buyers is currently under the age of 45, and in Asia it is under the age of 30.
“We have a lot of countries with very young clients,” he said. “We have second generation wealth, but we also have a very young customer base of entrepreneurs who make money on their own.”
However, compared to global wealth growth, Lamborghini production remains small. And while the US remains the largest market, Lamborghini carefully manages supply of all countries to ensure that the brand remains exclusive and special, Winkelman said.
“We always want to keep one market out of crowds and always have a global view of selling cars,” he said.
He said women will also become important drivers. Urus welcomes more female buyers to the brand, and Lamborghini hosts events focused on more women, like a “she drives a lambor” driving gathering.
“We’ve always been a very male-driven brand and are very appealing to men with design and performance,” Winkelman said. “But on the other side, along with Urus, we see more women stepping into the brand and being confident in it.”
