Lamborghini expects India to break into its top 10 global markets

Italian super sports car maker Automobili Lamborghini expects India to break into its top 10 global markets in the next five years with its new sport utility vehicle (SUV) Urus, set to help drive up volumes in the country, a top company official said on Thursday.

The firm, which sold 26 units in India last year, expects to double that in the next two years, with Urus drawing a complete new set of buyers. “India is not yet in the top 10 markets of Lamborghini, but I see huge potential here to beat some of those already in the list,” Automobili Lamborghini CEO Asia Pacific Matteo Ortenzi said. When asked by when India can break into top 10 global markets of Lamborghini, he said, “In the mid-term, say five years, we have a good opportunity to be there.” In 2017, Lamborghini's top ten global markets were the US, Japan, the UK, Greater China, Germany, Canada, Middle East, Australia, France and Monaco, and Italy. While the US sold 1,095 units, Italy at tenth position sold 119 units last year.

Bullish on the Indian market, Ortenzi said the company’s products, coupled with India's economic growth and rapidly improving infrastructure, “gives us the opportunity in three to four years to be in a different level than the one we are in today”. With the launch of the Urus at a starting price of ~31 million, the company has expanded its portfolio which includes Huracan and Aventador models.

Stating that the firm has sold out the Urus for this year and first half of 2019 in India, he said the super SUV has attracted new customers due to its functionality. “Globally, around 70 per cent of Urus customers are new to the Lamborghini brand. In India it is 68 per cent,” Ortenzi said. Lamborghini India head Sharad Agarwal said, “Urus is drawing customers from super luxury, luxury and premium segments. The pie from where customers of Urus is coming is around 500 customers.”