Italian ultra-luxury carmaker Automobili Lamborghini is set to see exponential growth in India, driven by the world's youngest customer base, which could make it a top market in the Asia-Pacific region in the long term, a company executive said.
In 2023, Lamborghini will surpass 10,000 units sold worldwide and at the same time, surpass 100 units sold in India. (Image/Pixaybay)
The company plans to sell a record 103 units in India in 2023, and Automobili Lamborghini's Asia Pacific director Francesco Scardaoni said the company aims to exceed 150 units sold in India per year by 2026.
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“In terms of volume, India is 14th in the world and sixth in the Asia-Pacific region. In terms of percentage, it is the fastest growing market,” Scardaoni told PTI.
In 2023, Lamborghini crossed the 10,000 unit mark globally and also crossed the 100 unit milestone in India at the same time. In the first half of 2024, global deliveries are still on an upward trend year-on-year and India is on the same trend, he added.
Last year, Lamborghini's largest market in the Asia Pacific region was China, with 845 units sold, followed by Japan (660 units), South Korea (434 units), Australia (263 units) and Taiwan (131 units).
Asked how far India could rise in the rankings of major markets in the region, Scardaoni said: “It's still a long way to get to third, second and first place but we believe it is possible in the long term for a country like India. In the medium term I believe India can grow very rapidly.”
“We believe that all the right indicators are in place to see that India is poised for truly exponential growth,” he added.
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Asked when Lamborghini would achieve annual sales of 150 units in India, he said: “My hope is 2026. When that happens, that's my hope.”
When asked why the company is bullish on India, he said, “It has to do with the economy. India is the fastest growing economy in the world and we also need to recognise that our customers here in India are the youngest of our customers globally.”
“India is a country of start-ups so we have a lot of young customers coming from emerging economies. India has become an incubator for start-ups,” he added.
The average age of Lamborghini's Indian customer is under 40 years old, whereas in key markets such as the US and Europe, the average age is between 40-45 years old.
Scardaouni further said that the Indian government is also making great efforts in developing roads and infrastructure in the country.
“We are seeing an amazing trend of developing and connecting major cities with new highways – this is a massive project. Once this infrastructure is completed, I believe the market for super sports cars will grow even more,” he added.
Lamborghini sells ultra-luxury cars in India starting at Rs 3.8 crore.
Regarding current demand from India, he said, “India has its production well covered up to 2025 and the situation is quite stable.”
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