Last year, Lamborghini in India hit the all-time high of 100 plus cars. Going forward, what kind of growth potential do you see in the Indian market?
These are continuous growth paths, not just that one year where we will do a big number and then it will decrease. This is in line with the overall strategy of Lamborghini and we tend to forget that we are a company that is working on demand being higher than the supply on offer. So we are also distributing the production accordingly and also want to preserve the business model of having higher demand than supply.
In India, I’ve seen a big growth in the economy and we can also see infrastructure growth, that is growing not only in tier one cities but all over. Hence, the potential for long-term is promising. That said, the segment is not growing so fast but I think it’s just a matter of time. We will not run for peaks but we are running always for consistent growth. So we will always aim to grow compared to previous year but as far as I can see in the next two to three years I see a continuous growth without any major spikes.
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In India, super luxury segment’s growth has been lower than forecasted. What factors that are holding back the growth in in your opinion?
We have also been trying to understand this better because this is a big question that everybody’s asking. It’s a market of nearly 1.4 billion people and has been one of the fastest growing economies globally in the last four or five years after Covid-19.
I think it’s a matter of a maturity that is not yet there in terms of evolution, because for sure I see a total potential. It’s a mix of things including infrastructure and also the taxation, which I have to say, in the last three, four years has been stable and unchanged so that’s a good thing. Another important point is that the wealthy people are very much spread around beyond large cities such as Delhi, Bangalore and Mumbai. We are seeing that other cities are picking up fast, and we need to be ready to cater to these markets from a sales and service perspective.
With multiple super luxury brands present in India, what is Lamborghini doing right to lead the segment?
I don’t know what we are doing better but I know what we’re doing well. First, it’s the product lineup, something that is very strong, especially the Urus. It’s an incredible car and not just in India, it has been is a game changer for us worldwide. Also, the Urus is well-suited for Indian roads as our customers can get the Lamborghini experience in a comfortable SUV without having to worry about damaging the car on bad roads.
In addition, in each and every country, we are doing a very good job in the one to one experience with our customers. This is not something that is to be underestimated because when you’re buying a Lamborghini, you’re not buying just a car but you’re also opening up the possibility to be inside a community with your kind of interests.
You have dealerships only in certain cities, but you still reach out to customers in tier two places. As your sales grow in the market will you look at adding dealerships in any of the tier two cities?
What we’re doing is very much consistent with the volume. We don’t want to have too many dealers because we care about profitability as a leader, and we need to open a sales spot only for potential that is realistic and concrete. Based on our parameters, we have identified three potential cities and probably in the next few years to come, we will expand in the Eastern part of the country.
Lamborghini India sold 100 cars last year. Do you have any target or percentage growth in mind for next year?
No, I think that for sure we have a milestone. And the next milestone for sure is when we are adding to the model range by 2026. But as I told you, we are very much optimistic and happy to have invested in India long time ago.
From being the 14th market for Lamborghini globally, do you see India featuring in the top 10?
I think it’s fair to be transparent so in the next two three years, I don’t see India becoming a top 10 market based on present indicators but never say never. I see that there will be growth and it will be continuous in India for Lamborghini.