MILAN, March 20, 2025 (Reuters) — Lamborghini’s CEO, Stephan Winkelmann, has raised concerns over potential U.S. tariffs on European-made products, which could impact the luxury carmaker’s revenue. Despite this, Lamborghini posted strong financial results for 2024, with revenues rising 16% to 3.09 billion euros ($3.31 billion) and operating profit up 15.5% to 835 million euros, surpassing the 800 million euros mark for the first time.
Lamborghini’s growth was supported by a record 10,687 vehicle sales, including approximately 3,000 units in the U.S., its largest market. However, the CEO warned that any new tariffs could add uncertainty to the already challenging luxury market, which contracted by 10% last year. The company’s order book currently extends for 18 months, and Winkelmann emphasized the importance of “controlled growth” moving forward.
“If tariffs go beyond a certain point, we risk losing volumes,” Winkelmann said. He noted that the company would need to evaluate its competitors’ responses and gauge how U.S. customers react to potential price hikes. The luxury car sector has faced pressures, particularly in China, where there has been a significant market contraction post-COVID.
Looking ahead, Lamborghini plans to expand its offerings with an entirely hybrid lineup, including the Urus SE SUV, the Revuelto sports car, and the new Temerario sports car. The company is also preparing to launch its first fully electric model in 2029.
In response to increasing demand, Lamborghini has added 1,000 new hires over the past two years, expanding its workforce by 30%. Despite the broader contraction in the luxury vehicle market, Lamborghini remains focused on long-term stability and growth.
The impact of potential U.S. tariffs remains a critical issue for the company, and the carmaker will be monitoring developments closely to mitigate any adverse effects on its volume sales in the key American market.
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