Currently reading: Lamborghini's record profits
Italian supercar manufacturer announces details of successful 2008

Lamborghini has announced a 27.4 per cent increase in profits for 2008.

Although the company only sold marginally more cars - 2430, up from 2406 the previous year - it attributed much of its increased profit of around £53 million to more efficient working practice.

President and CEO of Automobili Lamborghini, Stephan Winkelmann, said: "With this new record in deliveries and profits we have marked the most successful fiscal year in the history of our company.

"The worldwide economic climate, especially regarding luxury markets, has changed dramatically. However, Lamborghini's stronghold in global presence and brand appeal will enable us to steer Lamborghini through challenging times."

The success was achieved despite a 20.3 per cent drop in sales in the US. European sales remained steady, while sharp increases were recorded in the Middle East, most notably the United Arab Emirates, where sales rose 66 per cent to 166 cars.

However, Winkelmann also warned that the rises would be hard to repeat in 2009, saying that the company's only goal was to make a profit.

"We know that there are tough times ahead now, but we have increased the value and appeal of our luxury brand and we are ready to take on the challenges the future might bring us," he said. "We are confident we will come out of this challenge stronger than we went into it."

Lamborghini has already announced short-time work for 300 of its 1000 employees from February to May, and may extend these cuts.

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