WEBVTT - Lamborghini CEO Stephan Winkelmann Talks Debut Models

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Let's get back to Monterey Carweek. We're going to go

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<v Speaker 2>back to the quail. We are now joined by Lamborghini

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<v Speaker 2>CEO Stephan Winkleman. And Stephan first of all, great to

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<v Speaker 2>see you really excited about the new products that you

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<v Speaker 2>have to show this weekend and that you have for

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<v Speaker 2>customers to buy. But I first want to ask you

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<v Speaker 2>about the business side of it. You have the same

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<v Speaker 2>certainty now at a slightly higher level, right fifteen percent,

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<v Speaker 2>but you have the same problem that Frank Stephen Wallaser has.

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<v Speaker 2>You can't make Lamborghinis anywhere else. They have to be

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<v Speaker 2>built in Santa Agaita in Italy, and that's part of

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<v Speaker 2>the reason people buy them. Right, So are you going

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<v Speaker 2>to have to raise prices?

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<v Speaker 1>Well, we have not. The taught is at fifteen percent

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<v Speaker 1>right now, but they are twenty seven point five for sure.

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<v Speaker 1>We hope that they're going down to fifteen. That would

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<v Speaker 1>be a solution which we can live with. But we

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<v Speaker 1>are for free trade, so the best would be not

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<v Speaker 1>to have targets at all around the globe. Yes, we

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<v Speaker 1>are increasing the prices a bit for all the lineup,

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<v Speaker 1>but we are taking the bigger share of it.

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<v Speaker 2>Has it had? Okay, so now you're at twenty seven

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<v Speaker 2>point five the target is fifteen. I get that has

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<v Speaker 2>had the price increases that you've pushed through any effect

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<v Speaker 2>on demand because at the same time as you're pushing

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<v Speaker 2>through these price increases, we have all time record highs

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<v Speaker 2>in the US stock market. The rest of the world

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<v Speaker 2>is doing even better than the US in terms of

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<v Speaker 2>risk assets. Bitcoin is trading. I think it hit one

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<v Speaker 2>hundred and twenty five thousand dollars or thereabouts a couple

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<v Speaker 2>of days ago. So are you having any problem with demand?

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<v Speaker 1>One of the things which for sure is impacting business

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<v Speaker 1>is uncertainty. So we need to have a certain idea

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<v Speaker 1>of what is going to happen, and then it will

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<v Speaker 1>be let's say a Kalma situation. For sure, there is

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<v Speaker 1>a VFC because people are not knowing what is going

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<v Speaker 1>to happen, so they wait but for the moment. Together

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<v Speaker 1>with our partners, the dealers, we have had some delays,

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<v Speaker 1>but we think that we will be back on track

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<v Speaker 1>in the next month.

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<v Speaker 2>You've got a lot of new product out and a

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<v Speaker 2>little bit of a pivot for the typical Lamborghini right

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<v Speaker 2>We're used to these fire breathing, naturally aspirated twelve cylinder motors,

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<v Speaker 2>and you still have that, but they're now paired with

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<v Speaker 2>electric drive trains, so hybrids in the Revuelto, in the Tamorrio,

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<v Speaker 2>in the Urus. How are customers reacting to the hybridization

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<v Speaker 2>of Lamborghini's.

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<v Speaker 1>You know, we always said we don't need to be

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<v Speaker 1>the first one to do the things when it comes

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<v Speaker 1>to the hybridization, but when we get there, we have

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<v Speaker 1>to be the best ones and the market has to

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<v Speaker 1>be ready. Now, oh, the lineup is hybridized, and our

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<v Speaker 1>customers and not only accepting it in a very positive way,

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<v Speaker 1>but we also have a very solid older bank which

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<v Speaker 1>is exceeding one year for the lineup, so we are

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<v Speaker 1>very happy about this, and this is a phenomenon which

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<v Speaker 1>we observe worldwide.

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<v Speaker 2>We're looking at video here of the revwel To, and

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<v Speaker 2>that's obviously the one I want for my forever car,

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<v Speaker 2>but for my daily driver, I really am starting to

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<v Speaker 2>fall in love with the Temorrio or Temarrio. I'm not

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<v Speaker 2>sure how you pronounce it when you're when you're in Italy,

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<v Speaker 2>but it's a change from the hurricon right, because it's

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<v Speaker 2>down from a V ten to a V eight and

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<v Speaker 2>you know turbos and hybrids, and the look is also

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<v Speaker 2>a little bit softer, I think, Hannah, my friend Hannah

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<v Speaker 2>Elliott would say a little more more elegant. Power customers

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<v Speaker 2>reacting to this new vehicle. And when our delivery is

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<v Speaker 2>going to start happening, when can when can I get

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<v Speaker 2>the high the wheel?

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<v Speaker 1>So the name is the Mera, you know, it's the

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<v Speaker 1>name of a fighting ball. We are going to start

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<v Speaker 1>delivering the cars in the US by the end of

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<v Speaker 1>this year as demo cars, and then in the first

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<v Speaker 1>quote of twenty twenty six, we will have the first

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<v Speaker 1>customer cars. The car so far, without being test drived

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<v Speaker 1>by our customers, is already sold out for the next

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<v Speaker 1>twelve months. So this is a very good sign. And

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<v Speaker 1>it's a V eighty B turbo engine and it's a

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<v Speaker 1>very incredible engine because it drives up to ten thousand rpm.

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<v Speaker 1>So this is something which is also for an environment

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<v Speaker 1>we are in and the Super Sports Cup business unique

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<v Speaker 1>and this is something which the press and for sure

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<v Speaker 1>so Anna Elliott was appreciating a lot when we met

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<v Speaker 1>back some weeks ago in Esturel in Portugal.

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<v Speaker 2>That's right, Hannah's driven it and I haven't, but I'm

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<v Speaker 2>glad at least one of us has because she can

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<v Speaker 2>talk about it on our podcast Hot Pursuit. One of

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<v Speaker 2>the most fun cars I've ever driven in my entire

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<v Speaker 2>life was the Hurricane Stererrato. So that was the predecessor

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<v Speaker 2>to the Temoraio but it had a two inch lift

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<v Speaker 2>off road wheels and just an absolute blast to drive.

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<v Speaker 2>Are any of these other cars going to get the

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<v Speaker 2>Strato treatment? Would you envision, for example, a Tamorario s Toirato.

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<v Speaker 1>You know, we are, let's say, starting the new era

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<v Speaker 1>with older cars and the lineup completely new, so we

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<v Speaker 1>will have a clear dairy reid strategy. But it's a

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<v Speaker 1>bit too early now to speak about a possible Serrato.

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<v Speaker 1>There are others which are in front of this type

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<v Speaker 1>of car, so there will be open versions, faster versions,

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<v Speaker 1>and then we will see what we're going to do

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<v Speaker 1>if we're going to do a Stato. But as I said,

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<v Speaker 1>we have a lot in our pipeline in terms of deiotization.

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<v Speaker 2>What about a smaller Ura s Portia has you know,

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<v Speaker 2>the Cayenne, and then they've come out with the Maccon.

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<v Speaker 2>I'm seeing a lot more of those on the road,

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<v Speaker 2>and there is still demand for I guess a four

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<v Speaker 2>door sedan if it's lifted, you know, a compact s

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<v Speaker 2>u V. Is there room for another vehicle in the

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<v Speaker 2>Lamborghini lineup?

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<v Speaker 1>So when we looked into the lineup of Lamborghini and

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<v Speaker 1>of the super sports card business in general, two supercars

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<v Speaker 1>enough and one suv is very well fitting to Lamborghini

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<v Speaker 1>because in the past we already hit one and what

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<v Speaker 1>is missing is a Grand Turismo or GT car, and

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<v Speaker 1>this is what we're going to do. So we'll be

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<v Speaker 1>a two door two plus two sit and this is

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<v Speaker 1>going to be a model number four.

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<v Speaker 2>All right. I am always probing probing you for future

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<v Speaker 2>product news, and you're very good at holding it back.

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<v Speaker 2>But I'm glad you at least let that go that

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<v Speaker 2>there's going to be a two plus two, a GT

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<v Speaker 2>out of Lamborghini. Very much looking forward to that and

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<v Speaker 2>the Lonesador as well. Stefan, thanks very much. I have

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<v Speaker 2>a fantastic car week. Stefan Winkelman. There the CEO of

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<v Speaker 2>Lamborghini at Monterey