India (Common Wealth) _ Although the statistics are small, India has emerged as the fastest growing market globally for supercar manufacturer Lamborghini, as the Italian business – part of Germany’s Volkswagen group – expands its presence in the country with new models.
Lamborghini sales (cars costing around Rs 4 crore in India) increased 86% in 2021 (on total sales of 69 cars), outpacing the 55% growth achieved in China (935 units), 16% in Germany (706), 9% in the United Kingdom (564), and 3% in Italy (359).
The company, which sells models such as the Urus SUV and the Aventador and Huracan sports cars, has been increasingly focused on India, which is seen as the “next big promising market” as sales of super luxury and sports cars pick up, despite concerns about the economy, inflation, and other macroeconomic factors.
According to Sharad Agarwal, the CEO of Lamborghini in India, demand for super luxury vehicles remains strong. We have been expanding as a brand. Our client reach has grown from 16 cities in 2016-17 to 43 cities at the end of the year. Apart from metros and larger locations, we are now selling and servicing smaller towns like Ludhiana, Kanpur, Shillong, Guwahati, Salem, Surat, Madurai, and Indore, according to Agarwal.
The addition of the Urus SUV to the lineup has been a major factor in the company’s success. Among our sports car lineup, he noted, the Urus is a full-bodied SUV that has added to our strength in India. Despite problems throughout the Covid times, we have sold 200 copies of the model since its inception in 2018.
Agarwal stated that, in addition to expanding into smaller towns and cities, Lamborghini has profited from a rising number of new-generation entrepreneurs and millionaires. A third of our buyers are first-generation business owners. This is a positive indicator for our company and demonstrates the market’s underlying strength, he said.
Lamborghini sold 52 automobiles in India in 2019, however sales were down in 2020 due to the epidemic. “2021 was a strong year, and we expect similar double-digit growth this year. “While praising market progress, Agarwal stated that concerns such as high taxation and infrastructure impediments must be solved in order for supercar quantities to increase.
