Many automakers expect the global market to recover by the end of this year but Italian automaker Lamborghini don’t foresee a market recovery until at least 2011. Lamborghini Chief Executive Stephan Winkelmann revealed the gloomy outlook earlier today at an event in Paris.
Lamborghini managed to post record numbers in 2008, but has seen sales decline by 30 percent so far this year. Lamborghini says it remain profitable even at current sales levels, but doesn’t expect the market to pick up until 2011.
“We could stay profitable with sales that are dropping at 40 percent (in 2009). We are foreseeing a scenario that is staying on the same level next year and coming back in 2011,” Winkelmann told Reuters. “I’m prepared to face another tough year in 2010.”
Lamborghini sold 2,430 vehicles last year, but that figure could dwindle to around 1,500 cars this year. Lamborghini’s largest market, the United States, has seen a 40 percent drop off in sales through the first 5 months of 2009.
Overall, Lamborghini has cut its production by about 30 percent this year. Despite the production reduction, Lamborghini’s waiting time for delivery has fallen from 12 months to just 6 months. Lamborghini – based in Sant’Agata Bolognese, Italy – posted a pre-tax profit of $84.66 million in 2008, a 27 percent increase over 2007.
