Winkelmann, on his first visit to the country in 10 years, said the improvement in India’s infrastructure has “surprised” him. He’s also excited that women are increasingly gravitating toward the brand, even in India.
The consumer mood in the country is buoyant and if the tax regime continues to remain stable, opportunities to expand sales are robust, he said. “There have been a lot of changes and in terms of infrastructure – this is striking immediately. And for sure, also in our type of business now; the car industry has exploded,” he said. “We think that everybody is in the right place to do business and we have grown as Lamborghini, which is very positive… I think we’re very well-positioned.”
The size of the automotive super luxury segment is about 1,000 cars a year, he said. Its primary rivals in India are Ferrari, McLaren and Aston Martin.
The taxation structure has remained stable in the last five years. Like in the rest of the world, there is also a drop in the age profile of those acquiring luxury brands. The awareness of buyers is also increasing, he said. “I think all (luxe) brands are in the right position, and I’m not only talking about the luxury car business, but also what is around us now, be it fashion, accessories, watches, jewellery,” he said, adding that India is still a market that has huge potential.
Automobili Lamborghini sells three models in India – Huracan, Urus SUV and plug-in hybrid Revuelto – priced from ₹3.22 crore to ₹8.89 crore (ex-showroom). In 2023, the company crossed the three-digit mark for the first time in India, selling 103 vehicles. Global sales grew 10% to 10,112 units in this period. India levies 28% goods and services tax (GST) on automobiles, with 1-22% additional cess depending on the type of vehicle. Fully built imported cars, like Lamborghinis, attract customs duty of 60-100% based on the size of the engine, cost, insurance and freight. Winkelmann said that while a stable tax structure enables consumers to get “used to this type of expenditure,” an expansive network of highways ensures not only more sales, but also an increase in “trade and all the things connected to it.”The demographics make for an added growth impetus. “Our customers in India are very young. Like in most of the countries that we are in, we are pretty male-driven as a brand. But we have more and more women stepping into it, also here in India,” he said.
At a time when several major economies such as the UK, Germany and Japan are beset by economic troubles, Winkelmann said the mood in India is “very positive.” Lamborghini expects the double-digit growth rate in the market here to continue. He also said work has commenced on reducing carbon emissions.
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