Lamborghini in China: Is Explosive Growth Sustainable and Expected?
Lamborghini, the maker of the $1 million Aventador LP 700-4, is expecting more muted demands for luxury cars in China, which has been a boon market for automakers across the board. “If you look at the economy right now, there may be some uncertainty to make people wait a little,” Christian Mastro, Lamborghini’s Asia Pacific general manager, said. He added, “The number of people able to spend this kind of money is limited, it’s not unlimited.”
Rolls-Royce Chief Executive Officer Torsten Mueller-Oetvoes predicted last month that China’s growth will be less “explosive” this year. Total auto sales slowed last year after the end of stimulus measures and the economic expansion showed signs of easing.
Lamborghini is setting the bar low for itself this year: the company aims to boost deliveries in China by just 20 to 30 percent, about half as much as they pushed last year. However, Lamborghini plans to spend 20 percent more on marketing this year and will hold more events such as track drives to spur sales. Fourteen new dealerships will spring up in China’s smaller cities like Xi’an, Nanjing, Changsha and Shenyang.
The typical buyer of a Lamborghini in China is on average 20 years younger than in Europe, according to the company. Chinese customers have to wait at least 18 months before taking delivery of the Aventador, which has a 700-horsepower V12 engine and can accelerate to 62 miles per hour in 2.9 seconds, Mastro said.
Lamborghini plans to make 900 Aventadors globally this year and has sold out all 80 it allocated to China this year, Mastro said. The company has no immediate plan to raise the quota so as to ensure supply for other regions, he said.
photo credit: lamborghini