Many buyers of Lamborghini in Indian Diaspora: CEO Stephan Winkelmann
Lamborghini, though sales of its super-luxury cars are limited in India due to high taxes and lack of adequate infrastructure, said the Italian automaker's chairman and chief executive, Stephan Winkelmann. «There are more (Indian) owners than we sell cars in India. What is a bit of a challenge today for the Indian market, for sure, is the high taxation we have for our type of products, and then, the infrastructure,» Winkelmann told ET.
«These are the two main points why the market is not growing as it could. But we have a lot of Indians who are buying both (models) — whether it's Southeast Asia, the UK or North America.»Automobili Lamborghini sells two models, Huracan and Urus, in India, priced between ₹3.21 crore and ₹4.99 crore (ex-showroom). In 2022, the company sold 92 vehicles in India.
India levies a 28% GST rate on automobiles, with an additional cess ranging from 1% to 22%, depending on the type of the vehicle. Fully built imported cars such as the Lamborghini attract customs duty of 60-100% based on the size of the engine and cost, insurance and freight. Winkelmann spoke on a video call with ET after the company announced its half-yearly results.
Lamborghini's global sales grew 5% to 5,341 units in the first half of 2023. Revenue and profit rose faster, at 6.7% and 7.2%, respectively, till June 30. To be sure, India is one of the fastest growing markets for Lamborghini, where the company expects to cross the three-digit mark in sales for the first time in the ongoing calendar year.
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