Lamborghini says India-EU trade deal won't benefit its business
What's the story
Italian luxury carmaker Lamborghini has said that the proposed India-European Union free trade agreement will not benefit its business. The reason? The deal currently doesn't include plug-in hybrid vehicles, which are the only type of cars Lamborghini sells in India. Chairman and CEO Stephan Winkelmann confirmed this while expressing hope for future growth in the Indian market due to changing consumer trends.
Market presence
Lamborghini's presence in India
Lamborghini's Indian lineup includes the Urus SE, Temerario, and Revuelto, which are priced between ₹4.47 crore and ₹8.70 crore (ex-showroom). The company has crossed annual sales of 100 units in India. Despite the trade deal not favoring their business model at present, Winkelmann said he expects stable growth in the market due to rising demand.
Growth strategy
Winkelmann on future growth in India
Winkelmann said future growth will depend on how the Indian market matures. He stressed that Lamborghini is investing in new products and brand development globally. "So we will see how the situation is evolving and we will be ready as soon as the market is," he said. This shows Lamborghini's commitment to adapting its strategy based on changing consumer preferences and market conditions in India.