Recession-proof? Lamborghini is sold out into 2024
Exotic car company cannot keep up with its orders
Lamborghini is navigating the rough seas of the economy just fine.
The exotic automaker reported Monday that it sold 7,430 vehicles this year through September, an 8% increase over the same period in 2021.
That included 4,834 Urus SUVs, its best-seller, and 15 $500,000 Aventador Ultimae supercars that were rebuilt after the originals were lost on the Felicity Ace cargo ship, which sank in the Atlantic Ocean after a fire in March.
Lamborghini had to restart the assembly line for the out of production Aventador to fulfill the orders.
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Lamborghini CEO Stephan Winkelmann said the company has 18-19 months of orders. (David Paul Morris/Bloomberg via Getty Images)
It has plenty more where that came from.
"We already have 18-19 months waiting period for a new car," Lamborghini CEO Stephan Winkelmann told FOX Business in an exclusive interview.
"We are selling more cars than we are able to produce."
The Aventador Ultimae was the final version of the Aventador before production ended this year. (Goodwood Estate. Photo by Martyn Lucy/Getty Images)
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Winkelmann said the company expects to finish the year strong and then settle into a few years of stable sales as it refreshes its three-model lineup through 2025. This process starts with a replacement for the Aventador that arrives next year, as a hybridized V12-powered two-seater that Lamborghini already has 3,000 orders for.
The Urus accounts for over 50% of Lamborghini's sales. (Martyn Lucy/Getty Images / Getty Images)
Between those and the rest of the pre-sold cars, Winkelmann said the brand is well-positioned to weather a downturn in the economy if it happens.
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"It enables us to ferry boat the Lamborghini brand from one shore to the other," he said.
Lamborghini's profit per car has also increased as more customers request custom-finished models from its individualized programs.
"They want more and more cars that which are not looking like any other car," Winkelmann said.