Last Updated: February 22, 2024, 13:37 IST
Indian Millennials Drive Luxury Car Surge Globally, Says Lamborghini CEO. (Representational Pic) (Photo: Lamborghini)
Lamborghini remains in a strong position with high demand and waiting lists stretching up to 18-24 months globally.
Indians have been setting the pace in the world of luxury purchases, and the trend extends to high-end sports cars like Lamborghinis.
The Italian sports carmaker’s global CEO, Stephan Winkelmann, shared with TOI that the majority of Indian buyers are under 40, setting them apart from their counterparts in developed economies.
During his visit to India, Winkelmann emphasized the changing landscape, stating that Indians are becoming increasingly adventurous in purchasing supercars across international borders. Despite relatively low sales in the country, with 103 Lamborghinis sold in 2023 compared to 10,000 worldwide, Winkelmann sees massive potential in the Indian market.
Interestingly, Winkelmann highlighted a unique trend among Indian buyers who are not only purchasing cars within the country but also acquiring them for properties abroad in the UK, America, Dubai, and Southeast Asia.
Moreover, there has been a shift in consumer behavior regarding sports cars. Winkelmann noted that people are now more willing to experience and own these vehicles, which wasn’t the case previously. This change is evident in the increasing demand for personalized options, with Indian buyers being as discerning as their Western counterparts.
Lamborghini offers over 400 colors and a plethora of options for personalization, ensuring each car is a unique masterpiece.
Despite initial concerns about the impact of the COVID-19 pandemic on luxury car sales, Lamborghini has seen strong demand, which Winkelmann attributes partly to the “revenge buying” phenomenon post-COVID. However, he acknowledges a shift in the demographic of buyers, with more young people worldwide having the means and willingness to invest in luxury cars.
Winkelmann concluded optimistically, stating, “We have an average waiting period of 18-24 months globally, and with models like Huracan and Urus sold out, we are eagerly anticipating the arrival of new cars. We are in a good position.”
