But supercar maker is still making money
31 July 2009

Lamborghini's profits plunged in the first six months of 2009, but in contrast to many car manufacturers it is still making money.

Lamborghini reported a first-half profit of £4.6 million, down from £29.8 million in the same period last year. Turnover was £137.7 million, down 43.3 per cent.

Those figures are the result of car sales that were down 37 per cent, at 825 cars, compared with 1309 in the first six months of 2008.

The markets showing the sharpest decline were the economies worst hit by the worldwide recession. Sales in the US were down 52 per cent, for instance, from 431 to 207 cars. Sales in Germany were down 52 per cent and in the UK they were down 46.6 per cent.

However, sales in some regions have held up: in Italy 122 cars were sold, in contrast to 130 in the same period last year.

In the Middle East, which is the fourth-largest market in the world for Lamborghini, 61 cars were sold (79 last year).

However, in China 29 cars were sold in the first six months of 2009, a growth of 32 per cent year on year.

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"As was expected, we are not immune to the global recession," said Lamborghini president and CEO Stephan Winkelmann.

"Our business strategy continues to be driven by two fundamental principles that allow us to react to the present economic situation and preserve the success of our brand. Firstly, we will maintain the profitability of the company, a target confirmed by the results of the first six months of 2009.

"Secondly, we continue our investment into the future with product technology and innovation alongside a firm ecological stance."

Winkelmann also reiterated Lamborghini's long-term strategy of announcing at least one new product a year.

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