Bloomberg Audio Studios, podcasts, radio News, Lamborghini so to debut it's first electrified suv, the hybrid Lamborghini urus Se joining us. Now, I am thrilled to say we have Stefan Winkelmann. He is the Lamborghini CEO. So this is your second plug in at of course Lamborghini and I thought it was interesting because it comes at a time when we've really
seen consumer demand for EV's really cool off. When it comes to hybrids, though, does the demand picture look the same or is there more strength there now?
The strengths is very good on our side. I can speak for Lamborghini. The plug in hybrids are digested. People are accepting what we are telling them and they know that we are let's say, not only myket tears, but it's a true product. So we always say that the products which are coming next, they have two things. They will be more performing and this is even though they have hybrids them and they will have less SEO two
a mission. So we will continue to promise this. And the things are going very well on the Riuerlto And also now that we presented the Uru's essay, it's something which is astonishing or the feat big is very very positive.
Well, let's talk a little bit more about that, because of course deliveries don't start until early twenty twenty five, but give us an early peak at demand.
What does that look like on the Uroso in general on Ulu's very positive because today we are sold out on the actual one. We open up the system for the new one last week and we already had pre orders. They will now be translated into the system and I can tell you that already now we are almost at the end of twenty twenty five, so we have already another bank of one year after one week.
Have to imagine that feels pretty good. I think a lot of automakers would envy that position there. But so you have two plug in models right now when you think about fully electric cars, so true, evs is that something that Lamborghini would ever do.
We have a clear strategy. The first thing, we have three models today. You know, the first two we are hybridizing now the world to Nurus. Then there will be the third one, which we will present in the second half of the year here also in the US will be the world premiere and this will be then let's say, the closing of the first step of our strategy to have all the lineup hybridized, and then we're looking forward by the end of this decade to have a fourth model,
which will be then our first full electric car. Interesting, yes, it's interesting, but we also see that the things change, we will see we don't need to decide a lot on the three models we have today for the future, so we have more time to decide what to do next if we stay hybrid or if we go for electric.
So there's two things I want to get into there, both the timeline and the fourth model. Let's talk about the fourth model. First off, what could that like? Are we talking about, you know, another SUV maybe a four door sedan.
If you look into let's say the lineup of a super sports car company, you have the pure supersports cars like the Euelto and then for us, due to our tradition, we had also the first SUO v and in the eighties which was the LM zero zero two, So the urles came naturally. So what is missing in a lineup like hours and also due to our DNA was a coup No A two plus two, a GT car, so we have but in a modern interpretation, so we have
more ground clearance. It's a two door and a four seata, so something which we are looking forward to and I think it's going to be very successful.
Well, definitely going to stay tuned there. That sounds really interesting. Let's talk a little bit though about the timeline for fully electric because even when it comes to the hybrids, I mean you've taken a very deliberate approach. Some would call it slow relative to a lot of your competitor and I mean I really can't imagine what the EV landscape looks like by the end of the decade. Why move so slowly here?
But we always said we want to be the best when we arrive, but we don't have to be the first ones. When it comes to design and performance, we always want to be the best. But this type of technology, it's about acceptance. And for us, we are not selling mobility, we're selling dreams. So it's very important to continue to have people which are really dreaming about our type of cars.
We continue to work where the other saw and I think that also in terms of the full electric cars, there will be a time in place whether we'll be more accepted also for our type of customers, not for the super supposed cards that we have more time, but for more for the daily users because infrastructure. But also let's say the technology is going to help us in five to six years from now. And also there will be a new generation stepping in of buyers which are more into sustainable products.
Well, I told you a little bit before the interview that it's going to be a while before I can afford a Wamborghini. But we'll see there in that new generation of buyers. And on that point, let's talk about pricing power. Obviously you can command very very high price tags for your cars. Where are we in the cycle when it comes to pricing power?
You know, for us it's important to always sell less than demand. So actually we have an older bank which average is lasting two years on all the products. And when you buy these type of cars, you accept that you have to wait. It's good because on the other side, when we speak about residual values, they have to be very high. And if you want to buy a Lamborghini today, usually it's above MSRP, even if it's a used card,
because you don't want to wait. And this is a good moment and we want to keep it like this. And we are in a let's say an environment of thirty two forty thousand cars. There are some brands and they all move in the same direction. Some has more success, the other's less. And we are in the best shape ever. So our purchasing power is good and we had the best year Everso in terms of profit last year we
had the best turnover. We had we delivered for the first time more than ten thousand cars, and we had a profit of seven hundred and twenty three million, which is on ours of twenty seven point two percent. So we are really proud and happy about that.
So, like you said, twenty twenty three record year for Lamborghinia on a number of different metrics. And you actually said in January this year, late January, that you're sold out of cars until twenty twenty six. Is that still the.
Case, Yes, it's still the case under the work. It's even more so on top of the line the B twelfth with a plug in hybrid. It's the lasting three years. So area already at the end of twenty six.
And are youre noticing any trends when it comes to geographic demand, what it looks like region to region.
We are well balanced between the major regions so we have the US which is our top market, followed by the German market, then comes China, then comes to the UK, then comes to Japan, and then we have markets like Korea, the Middle East, Italy, so and then Canada. So if we look at it, we are very balanced in the different regions of the world. And this is also, let's say, keeping us on the safe side when there are local crisis.
Well, you've mentioned China and actually wanted to go there because there is a lot of anxiety over Chinese demand when it really comes to pretty much every industry out there. When you take a look at you know, lambo in China, does the market that urine sort of rise above some of the demand fears that we're seeing in the other industries.
No, the luxshy business in general is under heavy pressure in the Chinese market. There is a Fierest price battle, and we are not participating, so we are less exposed than others in the Chinese market. We have less than ten percent of our sales in China, and we want to keep it this way because even if China is the biggest market in terms of automotive, it's a very small market in terms of luck fit cars.
All right, Sefan so enjoyed this conversation, really thrilled that we could make it work. Our thanks, of course to Safun Winkleman, the CEO of Lamborghini