ITALIAN car maker Lamborghini will struggle to find another China as sales of its super-sports cars in the world’s biggest auto market have hit the skids due to a government campaign against conspicuous spending, chief executive Stephan Winkelmann said yesterday.
However, Automobili Lamborghini, owned by Germany's Volkswagen, sees long-term potential in the nascent Indian market and hopes better-than-expected sales in the United States, its biggest market, will offset the China sales slowdown.
“Unfortunately, there are not so many Chinas around the corner. And China for us is a challenge right now,” Winkelmann told reporters in New Delhi.
“Still it’s a big market, it’s our number-two market. But I think, you know, as much as I know about the local policies, and what the government is doing, for the time being it is a little difficult to buy these type of goods.”
Lamborghini sales in China grew steadily in recent years to about 230 cars last year, making the country the fighting bull brand’s second biggest market after the US.
Sales of the car are expected to fall to around 200 this year, said Winkelmann.
The China slowdown is due in part to the new political leadership’s campaign against lavish spending and graft.
Super luxury brands, such as Lamborghini, are seen as especially vulnerable to the crackdown on lavish spending as pricey sports cars have come to symbolise corruption.
City A.M. Reporter