Connect with us

Hi, what are you looking for?

Stock buzz

Lamborghini Eyes Tier I, Tier II Cities For Growth In India

Already Sold Out For The Year In India, Says Lamborghini Top Executive

Lamborghini started its India operations in 2007.

New Delhi:

After establishing a presence in India’s top cities, Italian automaker Automobili Lamborghini is now looking at customers in smaller centers to generate additional volumes, according to a top company official.

The super sports car maker is bullish on massive road infrastructure development to fuel the country’s economic growth, rise of first generation entrepreneurs and future business growth.

Sharad Agarwal, head of Lamborghini India, told PTI that a few years ago the demand was largely concentrated in big cities and metros, but now it is well spread.

“We launched a program and reached out to potential customers in 100 cities. Today we have 50 cities in India where you can find a Lamborghini owner and these Tier I and Tier II cities now contribute to over 25 per cent of the business. So these cities are becoming very important for us,” he said.

Lamborghini started its India operations in 2007. Last year it sold 92 units in India, a growth of 33 per cent as compared to 69 units in 2021.

The Italian brand sells three models in the country – the – SUV Urus and two super sports cars Huracan Tecnica and Aventador, with prices starting upwards of Rs 3 crore.

See also  Assets Of 9 Major Ports Being Considered For Monetisation: Minister

Mr Agarwal said the company now has customers in places like Amritsar, Shillong, Lucknow, Udupi and Ajmer as the demand is wide spread.

“So it’s not just limited to big cities.. a lot of first generation entrepreneurs are buying, then there are women who are coming and buying.. earlier it was third or fourth generation entrepreneurs buying our cars, ” They said.

Its luxury sports utility vehicle Urus is the leader in the country with a 60 per cent share in total sales, he added.

Aggarwal said that more than 80 per cent of the Urus buyers are first-time Lamborghini owners.

In addition, 10 per cent of Urus buyers also went ahead and bought Lamborghini sports cars, he added.

Aggarwal said, “If we look at the country’s scenario, wealth is not limited to big cities..the overall scenario is changing, people are traveling across the globe and they want to reward themselves with the same lifestyle.” want.”

He added that India is already one of the biggest markets for the Italian brand and the country has huge growth potential in the days to come.

See also  Toyota Kirloskar Motor Focussing On Hybrid Vehicles: Chairman

“Look at the current status of the number of billionaires in the country…also the kind of infrastructure that is being built in the country, the number of expressways that are being built..the new race tracks that are being overall if we look at the whole scenario India has immense potential for development…” Mr. Aggarwal said.

He added that the company remains in regular touch with the headquarters for more units for the Indian market with the existing order book having a waiting period of over 18 months.

Agarwal said, “We are always making our request to the headquarters because if you see the waiting period of 18 months is quite long. So we are always trying to strike a balance between the waiting period and the supply.”

He added: “Lamborghini is an exclusive brand, so we’re not chasing numbers, we’re chasing the right experience for our customers, so I think it’s always going to be a difficult balance. Keep asking how and how we can achieve more.” We can reduce the waiting period a bit.”

See also  Rupee Rises 10 Paise To Close At 82.28 Against US Dollar

Mr. Aggarwal said that the company’s focus is to continuously grow the business and provide great customer experience.

“By doing this, we have a strong long-term future in the market,” he said.

Globally, Lamborghini delivered more than 9,300 cars last year, up 10 percent from 2021.

(Except for the headline, this story has not been edited by Our Source staff and is published from a syndicated feed.)

featured video of the day

Nirmala Sitharaman says all GST compensation will be paid


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Bitlocus – a global emerging fintech company based in Lithuania – announced on Thursday that it has partnered with Estonia-based fintech company Striga, which develops tech infrastructure...


The Total Value Locked (TVL) in Decentralized Finance (DeFi) platforms has slumped below $200 billion, down from the $230 billion towards the end of...


Multi-stage investment platform, White Star Capital, has announced the first close of its second Digital Asset Fund (DAF II),  with backing from top investors...


Institutional investors can now access all of the Decentralized Finance (DeFi) applications on the Terra blockchain protocol on Fireblocks, as announced by the firm...

%d bloggers like this: