Last year was Lamborghini’s biggest ever for turnover, topping €2bn for first time
Financial success will steady business as it electrifies model range
For many, 2022 was a tricky year in which purse-strings were pulled and supply issues dogged trade, but for low volume, high end car maker Lamborghini it was boom time as it set a new record for turnover, deliveries and profitability.
The popularity of the Urus super-SUV, which racked up 5,367 deliveries worldwide (58 per cent of the total volume, and up 7 per cent on 2021), helped the Sant’Agata Bolognese company to boost operating income by 22 per cent over the year before, resulting in more than €2bn turnover for the first time ever.
The uptick in fortunes marks an even more significant turnaround from just five years before; in 2017 the supercar brand turned over half the amount achieved in 2022.
The Urus also boosted profitability, with segment-leading profit margins of 25.9 per cent. That enabled an operating income of €614m; up 56 per cent on 2012, the previous record year for the firm and the fifth annual profit increase in succession.
The 9,233 cars delivered was also a record for Lamborghini. The Huracan followed the Urus in terms of sales volumes, with 3,113 vehicles finding homes, while the range-topping Aventador supercar saw 753 deliveries in its final year of production (the last model left the factory in September).
The Asian market contributed most to Lamborghini’s record-breaking year, with a 14 per cent increase in sales on the continent, while America and Europe also saw significant increases of 10 and seven per cent respectively. The USA remains the brand’s biggest market overall, with 2,721 Lamborghinis bought Stateside in 2022.
Investing in the future
The increased profitability will ease the strain as Lamborghini moves to electrify its entire range. Later this year a replacement for the Aventador will be released, featuring a 1,001bhp plug-in hybrid (PHEV) V12 power unit.
In 2024, the Huracan will be replaced by a model with a PHEV powertrain of a similar type – though with a smaller engine and less power (though it won’t be a slouch, of course).
The Urus will also be hybridised in 2024 before a pure-electric version of the SUV is launched in 2029.
A fourth Lamborghini model, known to be a pure-electric grand tourer, will arrive the year before.
In total, €2.5bn of investment has been earmarked before the end of 2028.
“Our business continues to grow,” said Stefan Winkelmann (below), Lamborghini’s chairman and CEO, “and we can proudly confirm the achievement of truly remarkable targets once again in 2022.
“These figures come in a very important year for the company, which is marking its 60th anniversary and entering the second phase of the Direzione Cor Tauri programme: an unparalleled investment plan that that will guide our growth, lead to further improvements in our financial performance, and boost the value of our brand and our company.”
The year ahead looks to be another profitable one for the company, with an 18-month waiting list meaning that, despite unprecedented production volumes, the company has many more orders than it can fulfil.
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