Lamborghini Chief Executive Officer Stefano Domenicali said on Tuesday the luxury automaker expects to at least double production to 7,000 vehicles a year by 2019 once it rolls out a new SUV.
Domenicali told Reuters that the automaker plans to cap yearly production of its supercars at 3,500. He also expects SUV production will be at least as high but could be higher depending on demand. The Italian automaker is part of Volkswagen Group.
Domenicali, who was named CEO of the automaker in February, said Lamborghini also plans to boost its worldwide dealer network by about 20 percent to 160, from the current 132.
About 30 percent of its dealers and sales are in the United States, its largest market. Lamborghini sold a record 3,245 vehicles worldwide in 2015, including just over 1,000 in the United States.
Lamborghini is adding 500 employees and doubling the size of its Sant'Agata Bolognese plant in Italy as part of an investment worth hundreds of millions of euros announced in 2015. The new SUV will go on sale in 2018 starting at around $200,000.
Lamborghini is joining a number of luxury carmakers that have entered the profitable SUV market, including VW's Porsche unit.
Domenicali said he wants to keep brand volume limited. The company unveiled its Centenario Roadster in California, and said the company had already sold out of the 20 roadsters it was building at a starting price of 2 million euros before taxes.
Lamborghini plans to introduce a plug-in hybrid electric version of the SUV by 2020, and could eventually add a zero emission vehicle.
Lamborghini is owned by Volkswagen through its Audi brand. (Reuters)
Source: www.businessworld.ie
