Lamborghini says witnessing V-shaped recovery in India, aiming record sales in in 2021

PTIUpdated: Sunday, July 18, 2021, 09:52 PM IST
article-image
The company, which sells a range of super luxury cars priced between Rs 3.15 crore and Rs 6.33 crore, is looking to beat its best-ever performance in the country recorded in 2019 when it sold a total of 52 units. |

Italian super sports car maker Lamborghini is looking at a record year in India in terms of sales, riding on a V-shaped recovery in demand post Covid-19 related disruptions and positive sentiments in view of strong vaccination drive, according to a senior company official.

The company, which sells a range of super luxury cars priced between Rs 3.15 crore and Rs 6.33 crore, is looking to beat its best-ever performance in the country recorded in 2019 when it sold a total of 52 units.

It is already witnessing over 20 per cent growth in its business in 2021 as compared to 2019.

"What we are seeing is a strong V-shaped recovery, demand rebounding back to the pre-second (Covid-19) wave level. We are also seeing that there is a strong confidence, which is also coming to the market driven by the strong vaccination drive," Lamborghini India Head Sharad Agarwal told PTI.

Stating that the company is "on track" to beat its record of 2019, he said, "When we look at the first half (H1) of this year, we are already more than 20 per cent of the target that we have set for this year."

Compared to the H1 of 2019, Agarwal said, "In the H1 of this year we are plus 20 per cent in terms of the new order intake, we are plus 20 per cent in terms of the customer delivery."

He further said, "It is giving us positive feedback that yes, we are on the right track to have another record year in terms of business performance in the year 2021." This, he said, is despite the challenges faced in the second quarter of 2021 when the devastating second wave of the COVID-19 pandemic hit the country.

While the uncertainty of the third wave looms, Agarwal said there is an anticipation that the impact on human lives may be limited because of the strong vaccination drive which is going on, thereby making the outlook bullish.

"I anticipate the segment to have good positive growth...as a brand, we have always maintained a positive growth trajectory, except 2020, where we were hit by supply side as well as demand side," he added.

Lamborghini India will continue to work in a positive way so as to bring the growth in the country and the market, he said adding, "We still see that India offers an incredible opportunity in terms of growth, especially the super luxury segment as the size of the segment is still very small. It's still in its infancy and we want to focus on doing the right things."

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Indians continue to see real estate as a preferred asset for investment, as 50% expect rates to...

Indians continue to see real estate as a preferred asset for investment, as 50% expect rates to...

GST authority send Rs 21,000 crore notice to rummy developer Gameskraft, as it bets against online...

GST authority send Rs 21,000 crore notice to rummy developer Gameskraft, as it bets against online...

Investors lose Rs 7 lakh crore to freefall in Indian markets, with further interest rate hikes on...

Investors lose Rs 7 lakh crore to freefall in Indian markets, with further interest rate hikes on...

Apple set to manufacture its latest iPhone 14 in India

Apple set to manufacture its latest iPhone 14 in India

No let-up in rupee depreciation; touches another lifetime low of 81.50 against US dollar

No let-up in rupee depreciation; touches another lifetime low of 81.50 against US dollar