Lamborghini has sold out until 2027 due to increased demand among young ultra-rich buyers in India, projected to grow significantly. Sales of luxury automobiles have surged post-pandemic, with Lamborghini’s models reaching 100+ units sold. Both Lamborghini and Mercedes-Maybach experience strong interest in the Indian market, which is believed to have substantial room for growth in luxury vehicle sales.
Lamborghini has reached a remarkable milestone in India, as it has sold out its inventory until 2027 amidst skyrocketing demand among the nation’s young ultra-rich population. Recent data from a Knight Frank study suggests that the number of wealthy individuals with assets exceeding $30 million in India will grow by 50%, reaching nearly 20,000 by 2028. Many of these prospective customers are first-generation entrepreneurs eager to indulge in luxury vehicles.
Following the pandemic, sales of super-luxury cars in India have surged, more than doubling to between 1,200 and 1,300 units in 2024. Lamborghini itself reported selling over 100 units last year. The automaker offers three models – the Huracan, Urus, and Revuelto – with prices ranging from Rs 4 crore to Rs 8.89 crore before any applicable road taxes. Importantly, these vehicles are subject to a 100% customs duty due to their fully manufactured status.
During an address, CEO Stephan Winkelmann emphasized Lamborghini’s unique market position, stating, “Our type of business is scarcity, selling less than demand. We are not selling mobility and it is important to underline that. We are selling assets, a value when you buy a car like ours.” Following a successful year in India, where sales increased by 10% to 113 units, Lamborghini aims for a similar growth rate in 2025.
On the competitive front, Mercedes-Benz is also witnessing a robust increase in demand for its Maybach luxury vehicles, with sales flowing from India. In the past year, Mercedes sold approximately 500 units, a staggering increase of 145% from the previous year. Daniel Lescow, global head for Mercedes-Maybach, noted, “India is already in the top ten markets for Maybach globally and going forward there is a potential to grow even further.”
Both Lamborghini and Mercedes-Maybach are capturing the attention of young affluent buyers in India, a demographic shift that Winkelmann attributes to generational change. He remarked, “In India, we have among the youngest customer base … they are below 40 in terms of age.”
The luxury car segment, which encompasses vehicles priced above Rs 50 lakh, currently captures just over 1% of the Indian market, suggesting significant room for growth in the world’s fastest-growing economy. Winkelmann expressed optimism about opportunities in India, saying, “We see pockets of wealth coming up everywhere.”
Lamborghini is also contemplating the establishment of a fourth dealership in India, currently operating two in Delhi and one each in Mumbai and Bengaluru. Meanwhile, Mercedes-Maybach seeks to enhance its presence through additional dedicated customer lounges, with existing facilities currently limited to Hyderabad.
Winkelmann acknowledged the importance of infrastructure and taxation in supporting growth, stating, “There must be a trade-off between volumes and the taxes you can price in a country.” As the new generation of buyers enters the market, the future of luxury vehicle sales in India appears bright.
In summary, Lamborghini’s success in India reflects the burgeoning demand from young ultra-rich buyers in a rapidly growing market. The automaker’s strategic focus on scarcity and asset value has resonated well within this demographic. Similarly, competitors such as Mercedes-Maybach are also anticipating significant growth, bolstered by a favorable economic landscape and changing consumer behavior. Given the evolving dynamics, expansion opportunities remain promising for luxury car brands in India.
Original Source: m.economictimes.com
