When most people think of Lamborghini, they think of exotic sports cars. However, with the introduction of the Urus back in 2018, Lamborghini has become more SUV makers than sport car maker. In just four short years, the Urus has became Lamborghini’s best selling car. It outsell every other Lamborghini combined.
In first half of 2022, Lamborghini delivered 5,090 car. A new sales record. It made €1.33 billion in revenue, which marked an increase of 30.6% over the first six months of 2021. Operating profit was also 69.6% up, going from €251 million to €425 million. Profit margin is now an Apple like 31.9% vs. 24.6% in the previous year period. The step up in profitability was driven by an increase in volumes, the product mix, higher customization, positive exchange rates, and the fact that a recession doesn’t affect rich people.
The United States is the number one market (1,521 units), followed by Chinese mainland, Hong Kong and Macau (576), Germany (468), the United Kingdom (440) and the Middle East (282).
Key to Lamborghini’s success is the Urus SUV, accounting for 3,105 units, or 61% of all deliveries. It easily blew away the 1,985 Huracán and Aventador delivered during the same period. Now, the company is gearing up to launch three new products in August, with two of them based on the Urus. No doubt about it, the SUV has taken over at Lamborghini!
This Is All Porsche’s Fault
Porsche was the originator of the high performance SUV when it introduced the Porsche Cayenne way back in 2002. The Cayenne proved to the world that it was possible to make a big SUV that handled like a sports car. Since then, SUVs have completely taken over at Porsche. Sales of sports car now make up just 20% of Porsche’s Q1 2022 deliveries. Porsche, like Lamborghini, is a SUV maker cleverly disguised as a sport car company.
Today, SUV sales dominate all the high end car brands. Rolls-Royce’s best selling car is the Cullinan SUV. Bently’s best selling car is the Bentayga SUV. Aston Martin’s best selling car is the DBX SUV. You get the idea. It is any wonder why Ferrari is making a SUV?
Ferrari plans to call their Purosangue SUV a FUV. Ferrari claims FUV stands for Ferrari Utility Vehicle, but we all know the real reason is nothing says FU like a Ferrari.