Lamborghini CEO Stephan Winkelmann has stated that the luxury vehicle manufacturer is still experiencing a surge in demand, resulting in an 18-month backlog.
Initially, the backlog was due to supply chain constraints translating to a delay of 12 months, and the recent demand has already seen the 2023 production schedule sold to buyers,” Financial Review reported on August 2.
Notably, the demand has translated into the company recording its highest six-monthly profit ever despite the prevailing economic uncertainty. During the first half of 2022, Lamborghini’s global deliveries surged to 5,090, a growth of 4.9%.
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Elsewhere, the firm’s operating profit spiked 70% to €425 million while sales grew 31% to €1.33 billion.
New model’s driving Lamborghini’s surging demand
Additionally, the spiking demand and sales have been attributed to the introduction of new vehicle lines. Most specifically, the URUS SUV model accounted for 61% of sales, with the United States remaining the firm’s number one market.
The sales have surged despite the high inflationary environment, and Lamborghini is set to adjust its vehicle prices. Notably, the company has maintained the price rises below the inflation level, but the interest rate hikes are triggering a change in tact.
Lamborghini’s flourishing amid crypto meltdown
Overall, Lamborghini appears to be flourishing in a tough financial environment that has seen asset classes like cryptocurrencies lose value as inflation skyrockets. As reported by Finbold, Lambo owners have held their value better than cryptocurrencies since November 2021.
Interestingly, Lamborghini is among symbols of accomplishment for individuals getting rich from cryptocurrency.
Since the last crypto bull market, leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have lost their value by over 50%, with some related businesses plunging into bankruptcy.
Furthermore, data shows that the value of a pre-owned Lamborghini has remained relatively the same across 2022 as the crypto and stock market tumble.
The relationship between cryptocurrencies and luxury cars is further highlighted by Chief Operating Officer Luke Willmott of AutoCoinCars. He noted that purchasing luxury cars using crypto has doubled sales to $12 million in the past year while maintaining a stable growth rate.
