Lamborghini sets new sales record amidst hybrid push

A Lamborghini car is parked in front of Panerai and Loewe boutiques in Via Monte Napoleone, a famous upscale shopping street in Milan, on April 9, 2024. (Photo by GABRIEL BOUYS / AFP)

Berlin, Germany — Lamborghini set a new sales record in 2024, the Italian sportscar maker said on Thursday, defying the gloom that has hit mass-market car companies.

Lamborghini sold 10,687 cars last year, a rise of six percent on 2023, which was itself a record year.

Deliveries were up six percent in Europe and the Middle East, Lamborghini’s largest market by volume, and up seven and three percent in the Americas and Asia-Pacific respectively.

“The results highlight the success of strategically balancing supply and demand, along with a well-calibrated order portfolio, strengthening the brand’s desirability and the residual value of our products”, said Stephan Winkelmann, chairman and CEO.

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2024 was a transition year for the brand with a bull, with Lamborghini, whose parent is the Volkswagen Group, moving to produce only hybrid cars.

Lamborghini has enough orders for the Revuelto, its first hybrid supercar, to last until 2026 and its Urus SUV will soon be available only as a hybrid.

In August, the carmaker presented the hybrid Temerario, with a top speed of 211 mph, intended to replace the entry-level Huracan model.

Lamborghini is in no hurry to make electric-only cars, though it developed an electric concept car in 2023.

“The market for electric cars won’t be mature in 2025 and it won’t be too late to have an electric model by 2030”, Winkelmann told French daily Le Figaro in December.