Lamborghini had its most profitable year in history during the COVID-19 pandemic. Although revenues may have been down for the auto maker due to 70-day production stoppages during the spring of 2020, the right mix of successful SUVs and supercars such as the $3.3 million Sian led to high profits in 2020.
According to Stephan Winkelmann, the President and CEO of Lamborghini, an ideal model mix and growing product customisation increased profitability for the famous Italian sports car manufacturer. “We were surprised,” he explained to Bloomberg.
While Lamborghini did not disclose its exact net profits for 2020, the turnover for the year end 2020 was €1.61 billion ($1.93 billion), which was 11 percent less than Lamborghini's turnover in 2019. However, it is important to note that competing automotive companies such as Ferrari witnessed a decrease in its net profits during this time, as reported by Bloomberg.
Moreover, the United States continues to be the top market with 2,224 Lamborghini vehicles delivered, followed by Germany and China.
In addition to this, the Italian automaker also witnessed more customer orders and delivered more cars in the first two months of 2021 than it did in the same months in 2020.
Moving forward, the company plans on focusing more on the commercial launch of the Huracan STO and two other cars in the next year.