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The Economic Times

Lamborghini expects 30% growth driven by non-metros

lambhorgini-bccl
Lamborghini expects to close 2019 with sales of about 60 units, up from 45 last year.
MUMBAI: The super-luxury car segment, with a price tag upwards of Rs 2.5 crore, is likely to remain stagnant for the second consecutive year in 2019 but Italian carmaker Lamborghini anticipates a 30% growth in its sales on the back of increased demand from non-metro cities and new model launches.

Almost a quarter of Lamborghini’s sales come from cities other than key metropolitan areas such as Mumbai, Delhi, Bangalore, Chennai, and Hyderabad, Sharad Agarwal, head of Lamborghini India told ET. “Five years ago, this was in single-digits,” he said.

The iconic Italian brand launched four new cars here this year, indicating its strong belief in the Indian market, Agarwal said, speaking at the launch of the company’s newest product in India, the Huracan Evo Spyder.

Lamborghini expects to close 2019 with sales of about 60 units, up from 45 last year. Over half of this number will be through the sales of the Urus SUV, which the company launched in India last year, Agarwal said. The super luxury car segment in India is estimated to be about 300 units a year. Agarwal said that this number does not reflect the latent demand in the market.

“In terms of potential, we have not even scratched the surface. The super luxury car segment in India is very small. If you look at the size of the country, the number of millionaires we add every year, this segment is bound to grow,” he said. Inconsistent policy framework and taxation has prevented this segment from growing, he added.

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