Lamborghini sales drop 40%...OUCH!!
03-05-09, 05:20 PM
#1
Lexus Fanatic
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Lamborghini sales drop 40%...OUCH!!
Luxury sports car manufacturers are having a tough year in 2009, despite their successes last year. Earlier this month we heard from Porsche, who had experienced a massive drop in sales for the first six months of fiscal 2008/2009 following their record profits last year and now a similar story is unfolding at Lamborghini, with sales dropping by around 40% in the wake of canceled orders.
Despite selling the most cars in the brand's history last year, the drop in sales is still in line with a global fall in demand for luxury cars in 2009. Lamborghini CEO Stephan Winkelmann stated that Lamborghini's main focus this year will now be to stay "in the black", rather than attempt to break any sales records. The drop in sales came suddenly, and Winkelmann mentioned that customers were even foregoing their down payments on the cars that had already been ordered for them.
Some warning of an impending crisis at Lamborghini was available - despite last year's record sales, its U.S. sales fell by around 20% in the same period. Nevertheless, the difference was made up in emerging markets such as the Middle East and South East Asia. But now with the world economy in tatters it means that "there is no immunity for luxury brands", according to Winkelmann.
Lamborghini claims that the sudden drop in orders can be attributed to two major causes; the fact that many Lamborghini customers worked in finance and were no longer able to afford their cars, or that it would be a little insensitive for customers to show up in a brand new Lamborghini while their friends and family struggled with finances.
Despite all the doom and gloom in the world luxury car market, there is a silver lining to this cloud at least: the waiting time for a new Lamborghini has dropped from 1 year to just six months.
Despite selling the most cars in the brand's history last year, the drop in sales is still in line with a global fall in demand for luxury cars in 2009. Lamborghini CEO Stephan Winkelmann stated that Lamborghini's main focus this year will now be to stay "in the black", rather than attempt to break any sales records. The drop in sales came suddenly, and Winkelmann mentioned that customers were even foregoing their down payments on the cars that had already been ordered for them.
Some warning of an impending crisis at Lamborghini was available - despite last year's record sales, its U.S. sales fell by around 20% in the same period. Nevertheless, the difference was made up in emerging markets such as the Middle East and South East Asia. But now with the world economy in tatters it means that "there is no immunity for luxury brands", according to Winkelmann.
Lamborghini claims that the sudden drop in orders can be attributed to two major causes; the fact that many Lamborghini customers worked in finance and were no longer able to afford their cars, or that it would be a little insensitive for customers to show up in a brand new Lamborghini while their friends and family struggled with finances.
Despite all the doom and gloom in the world luxury car market, there is a silver lining to this cloud at least: the waiting time for a new Lamborghini has dropped from 1 year to just six months.
03-06-09, 12:02 PM
#7
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Lamborghini = new money. Ferrari = old money. Thats the diffrence. All the new money people are losing right now because of the terrible economy. Hence why sales have dropped.
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03-06-09, 12:12 PM
#8
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I highly doubt that. I like to see Ferrari sales report and I bet they are in the negative territory as well.
03-06-09, 01:08 PM
#9
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http://www.motorintelligence.com/m_frameset.html
Click link on page for new vehicle sales.
03-06-09, 01:12 PM
#10
Speaks French in Russian
Link provides Jaguar sales too. Down 8.8% so far for the year. Everyone else outside of Hyundai is showing double digit declines. XF seems to be doing pretty good in this economy. Good for them.
03-06-09, 01:31 PM
#11
A lot also has to do with the Calabasas Lambo dealership that just went under (which was supposedly the biggest dealership in the US. My brother bought his Lambo from there and got it for a steal before they went under.
What I heard was that the Owner was pocketing the money from customers and selling the cars around $40,000-$50,000 under sticker and then fled the country back to Lebanan I believe with the money instead of sending pay Lamborghini.
What I heard was that the Owner was pocketing the money from customers and selling the cars around $40,000-$50,000 under sticker and then fled the country back to Lebanan I believe with the money instead of sending pay Lamborghini.
03-06-09, 06:04 PM
#12
A lot also has to do with the Calabasas Lambo dealership that just went under (which was supposedly the biggest dealership in the US. My brother bought his Lambo from there and got it for a steal before they went under.
What I heard was that the Owner was pocketing the money from customers and selling the cars around $40,000-$50,000 under sticker and then fled the country back to Lebanan I believe with the money instead of sending pay Lamborghini.
What I heard was that the Owner was pocketing the money from customers and selling the cars around $40,000-$50,000 under sticker and then fled the country back to Lebanan I believe with the money instead of sending pay Lamborghini.
03-06-09, 07:29 PM
#13
I always wondered how my brother got his for $50,000 below sticker price plus got an additional $40,000 worth of options for free. And here I thought he was a great negotiator.
03-06-09, 10:31 PM
#15
you are correct. My brother heard from the sales guy where he bought his, that this owner almost single handly ruined Lamborghini's North American sales because he was selling all his Lambos so far below sticker!
I always wondered how my brother got his for $50,000 below sticker price plus got an additional $40,000 worth of options for free. And here I thought he was a great negotiator.
I always wondered how my brother got his for $50,000 below sticker price plus got an additional $40,000 worth of options for free. And here I thought he was a great negotiator.
