Speaker 1: I'm Matt Miller and I'm Hannah Elliott and this is Hot.
Speaker 2: Pursuit, and uh, you are back state side, so I'm
Speaker 2: back state side.
Speaker 3: I'm really excited to hear about your time in Rome,
Speaker 3: mainly because I want to hear about Ola, but also
Speaker 3: about the car that you were driving, the c LA,
Speaker 3: and you also have wrangled us a pretty awesome interview
Speaker 3: for today.
Speaker 1: Stefan Winkelman or Stephen Winkleman defending you say it the
Speaker 1: German way.
Speaker 3: I do, And but he's actually from Italy.
Speaker 4: So Berlin. Well he's but also Berlin.
Speaker 3: Yeah, I'm wait, wait we so he grew up in Italy.
Speaker 3: Maybe he was born at Charity and then he grew
Speaker 3: up in Rome. Yeah, so he has a German sounding name,
Speaker 3: but he's like actually an Italian dude. And of course
Speaker 3: he's always worked with like German companies.
Speaker 1: Yes, and we should say he's the CEO and chairman
Speaker 1: and CEO of Lamborghini and has been for many years now,
Speaker 1: so he's really kind of indelible with the brand in
Speaker 1: my mind at this point.
Speaker 3: He was there for a while and then he left
Speaker 3: and then he came back. So there was uh Winkleman
Speaker 3: in one point. Oh, and then when he left Domenicali
Speaker 3: step Stephan Domenicali ran Lamborghini. Then now he's running F
Speaker 3: one and then and Winkleman was running Bugatti.
Speaker 4: Well yeah, and.
Speaker 1: For a while, remember when Winkleman was running Bugatti and
Speaker 1: Lamborghini at the same time.
Speaker 4: Yes, which seems like a lot.
Speaker 5: Yeah.
Speaker 1: Now he's just at Lamborghini again, which feels like really
Speaker 1: his spiritual home.
Speaker 3: Exactly, And to me it feels like that too. But
Speaker 3: I think he enjoyed this time at Bugatti, and I
Speaker 3: got to drive some Bugattis with him at the track,
Speaker 3: which was lucky. Pretty I've driven Lamborghini's with him at
Speaker 3: the track and I've driven Bugatties with him at the track.
Speaker 4: So he was driving and you were in the passenger
Speaker 4: seat both.
Speaker 3: Yeah.
Speaker 4: How good a driver was he?
Speaker 3: He is? I think he's more concerned with the business,
Speaker 3: of course than the but I mean he's you know,
Speaker 3: obviously he's a better driver than I am, because I'm not.
Speaker 1: Yeah, I was just curious if he was like very aggressive,
Speaker 1: like really trying to show off taking corners, or just
Speaker 1: more relaxed.
Speaker 3: No. I think, well, when you're driving a Bugatti, certainly
Speaker 3: your first order of business is not wrecking it.
Speaker 4: Yeah, don't wreck the car, you know, it's number one.
Speaker 4: And that was the rubber down and the steal up.
Speaker 3: That was on a pretty tight track in Germany. The Lamborghini.
Speaker 3: I went to drive the evented Door Svo with him
Speaker 3: in Barcelona on the Formula one track, so there's a
Speaker 3: lot more room to run off cool, although I didn't.
Speaker 5: Wreck that either.
Speaker 1: I've said this before, but I have this one great
Speaker 1: memory of him. I was driving in Rome and I
Speaker 1: saw him in a Bugatti with someone else who was
Speaker 1: very beautiful, and it was just the classic Italian sighting.
Speaker 4: It was great.
Speaker 3: Probably his wife. She's very beautiful. She's like supermodel. Like
Speaker 3: when you see her, you're like, oh my god, she's famous.
Speaker 1: But you like coler than me, Yes, I know, Yes,
Speaker 1: I love a woman who's coller than me.
Speaker 5: All right.
Speaker 3: So and anyway, you were just in Rome. This is
Speaker 3: not the time that you saw Stephan Winkleman, but you
Speaker 3: were just in Rome with Ola Collenius, who runs the
Speaker 3: Mercedes Benz group.
Speaker 1: Yes he's actually Swedish speaking of countries, but I would Yes,
Speaker 1: I was with Ola and we took a drive in
Speaker 1: the New CLA Sedan, which is Mercedes entry level sedan.
Speaker 1: It's going to be the most affordable car that they
Speaker 1: have debuted, and it's the most advanced, which I find
Speaker 1: really interesting because they are choosing to develop all this
Speaker 1: new technology and not put it in their top of
Speaker 1: the line AMG stuff or S class or my box stuff.
Speaker 1: They're putting truly this supercomputer that they've developed in house
Speaker 1: into their entry level sedan, which is really interesting. I
Speaker 1: think this is going This is them going straight for
Speaker 1: Tesla and really trying to capture some more of the
Speaker 1: market in China. But yes, I rode around with Ola
Speaker 1: in Rome in the car and it was great. We
Speaker 1: had a whole conversation. The car should start around fifty
Speaker 1: thousand euros. They haven't finalized pricing for the US, but
Speaker 1: kind of beautiful. I actually thought it might be a
Speaker 1: little bit of a boring car because lately some of
Speaker 1: the Mercedes have tended to just look like jellybeans. But
Speaker 1: it actually had some great defining lines. The grills very cool,
Speaker 1: the dashboard spans from pillar to pillar inside the vehicle,
Speaker 1: and it's it is really well done. I have to say,
Speaker 1: it doesn't feel entry level when you get inside.
Speaker 3: That's good to hear. And yeah, man, there's never been
Speaker 3: a better time to go straight after Tesla, right exactly.
Speaker 4: I mean they couldn't have planned it better.
Speaker 3: There can be some some would be buyers that are
Speaker 3: just not willing to fork out for a Tesla, But
Speaker 3: that's cool that you that you liked it, and that
Speaker 3: isn't a jelly being because I always think, or lately
Speaker 3: I think of Mercedes they're like Moorish you know, palaces
Speaker 3: where from the outside it's like mah, but then you
Speaker 3: get inside and you're like, oh my god, this is awesome.
Speaker 1: Yeah, yeah, this is I think it's step. It's it's
Speaker 1: a it's not it's not a massive change, but I
Speaker 1: can feel a shift back. It's the ship is writing itself.
Speaker 1: The ship is slowly turning. And the other interesting thing
Speaker 1: about this CLA is they're introducing the electric version in
Speaker 1: the US and then next year they're bringing a hybrid version,
Speaker 1: which also is a little bit counterintuitive. I would think
Speaker 1: you'd start with the hybrid and then follow up with
Speaker 1: the EV, but they've they've flipped it, and this is
Speaker 1: again a pivot. I think at one point they would
Speaker 1: not have even bothered with bringing a hybrid version to
Speaker 1: the US, but now they realize they do need to
Speaker 1: still maintain combustion options for people.
Speaker 3: Right, there's like Scout, Scout did the same pivot, right, yes,
Speaker 3: or we'll do the same pivot, you know, now that
Speaker 3: you mention it. I'm looking at the CLA, the older CLA,
Speaker 3: and I just had this BMW, which I liked very much.
Speaker 3: But I've been noticing Audi's on the road that if
Speaker 3: you take the badges off of sort of late model,
Speaker 3: more entry level German cars, they all could look exactly
Speaker 3: like one another. I mean, there's hardly a differentiator.
Speaker 1: I know, especially the big sedans and the subs.
Speaker 3: Take off the grill, take out the kidney beans or
Speaker 3: the star or the four rings, and then you don't
Speaker 3: know what you're looking at. It's all the same.
Speaker 1: It actually makes it pretty difficult to review them because,
Speaker 1: like you say, you know, they're all owned by the
Speaker 1: same three companies or the same two companies, depending on
Speaker 1: what we're talking about, and there's a lot of part
Speaker 1: sharing going on. So yeah, it's I do since that Automakers,
Speaker 1: and you know, mister Winkleman says too, it's important to
Speaker 1: differentiate yourself a bit, and I think they realize that
Speaker 1: because everything just tends to blur and gloss over, and
Speaker 1: that's not actually good in the long run for developing
Speaker 1: brand loyalty, among other things.
Speaker 3: All right, well, let's get into our interview with Stephan Winklman,
Speaker 3: the CEO of Lamborghini.
Speaker 4: It's such an.
Speaker 1: Honor as always to talk with you, mister Stephen Winkleman,
Speaker 1: the chairman and CEO of Automobile Lamborghini, and you come
Speaker 1: with happy tidings. I know you guys have just released
Speaker 1: earnings for twenty twenty four. Can you just give us
Speaker 1: a top overview. It looks like you have a very
Speaker 1: strong year.
Speaker 5: Yes, in fact, today is a very good day.
Speaker 6: We are announcing again a record year for the year
Speaker 6: twenty twenty four.
Speaker 5: The turnover for the first time is exceeding that.
Speaker 6: Three billion, with approximately three point one billion euro with
Speaker 6: an operating profit of eight hundred and thirty five Also,
Speaker 6: this is a record high. And also the deliveries to
Speaker 6: customers with ten thousand, six hundred and eighty seven cars
Speaker 6: again something incredible.
Speaker 5: And also your record high.
Speaker 6: The ROS is at twenty seven percent, so we are
Speaker 6: well established and this again is not something we are
Speaker 6: doing to have a record or running for the peaks.
Speaker 6: We are doing it by having a solid order bank,
Speaker 6: which time being is lasting one and a half years.
Speaker 5: So exclusivity scarcity is the talk of the day.
Speaker 6: And it's also about all the lineup renewed and this
Speaker 6: is that's a good sign for the future of LOM
Speaker 6: Can I ask?
Speaker 3: I mean, I just want to ask about the breakdown.
Speaker 3: So ten thousand, more than ten thousand cars, and how
Speaker 3: many of those are you know, Revuelt's and how many
Speaker 3: are uruses?
Speaker 6: We have about the US is a bit more than
Speaker 6: five thousands, so around five thousand, five hundred. We have
Speaker 6: around fourteen hundred reuelto and the rest is Hurakan So
Speaker 6: we have more les.
Speaker 5: Fifty to fifty between the two.
Speaker 6: Let's say type of cars, the supercars on one end
Speaker 6: side and the Urus on the other side.
Speaker 4: I think that's so interesting.
Speaker 1: Can you talk a little bit about the breakdown since
Speaker 1: we're talking about breakdowns of hybrids versus combustion engines. Of course,
Speaker 1: everyone last year seemed to be a little surprised evs
Speaker 1: weren't selling more. You guys have said you're really going
Speaker 1: to stay in the hybrid and combustion range for a while.
Speaker 4: What's your update with that.
Speaker 5: I think that.
Speaker 6: Now speaking the twentieth March, twentieth of March and twenty five,
Speaker 6: the decisions we talk in the last years were the
Speaker 6: right ones because we said, we don't need to be
Speaker 6: the first ones to do the things, but when we
Speaker 6: do it, we have to do it right, and we
Speaker 6: have to do and we have to keep the promise
Speaker 6: of being more performing and less emitting your two emissions.
Speaker 6: With all the three cars we are doing it, and
Speaker 6: the customer reception is very good.
Speaker 5: We have.
Speaker 6: Done what, in my opinion, was the right approach, not
Speaker 6: to courageous, but the right steps at the right time.
Speaker 6: The next step would be by the end of the
Speaker 6: decade we have an additional card, which would be then
Speaker 6: the first full electric car, and I think by that
Speaker 6: time it's okay we have three plug in hybrids so
Speaker 6: with strong combustion engines like the BE twelve and the
Speaker 6: V eights, and one additional car, which then is a
Speaker 6: good roundup of our product range.
Speaker 3: By the way, with the fully electric vehicle be one
Speaker 3: of the supercars or do you think you could put
Speaker 3: out a fully electric suv first?
Speaker 6: No, the idea is to have something which is neither
Speaker 6: nor no. We will not go into the supercars and
Speaker 6: not an suv. We are planning what is missing in
Speaker 6: our lineup, which is a gt A two plus two,
Speaker 6: which is the classic no car which every exclusive or
Speaker 6: luxury manufacturer head in his lineup, which we had in
Speaker 6: the sixties and seventies. And I think that this is
Speaker 6: a good head on for our car company.
Speaker 5: You have to see that in average.
Speaker 6: Our customers have around ten cars, so it's never the
Speaker 6: first card they are buying as a Lamborghini, so they
Speaker 6: have a multiple choice to drive the right car in
Speaker 6: the right moment during the week or the months. And
Speaker 6: therefore we think that we have this new body style
Speaker 6: as the first electric car is a perfect match for
Speaker 6: Lamborghini because we leave untouched the two supercars, they will
Speaker 6: be plug in hybrids and also the US.
Speaker 4: So I have to ask about China.
Speaker 1: I'm just so curious because for so many years that
Speaker 1: was the most promising market for almost every automaker, and
Speaker 1: it's been somewhat rough going in twenty twenty four for
Speaker 1: many others. How important is China for Lamborghini to succeed
Speaker 1: in and what are the prospects there what makes sense
Speaker 1: for Lamborghini in China.
Speaker 6: So for me to get let's say China into the
Speaker 6: right perspective, we have to see the China in terms
Speaker 6: of car market is the biggest by far, so it's
Speaker 6: more than twenty five percent of total sales globally is
Speaker 6: the China market. But if we come to the luxury market,
Speaker 6: it's less than ten percent, and for us it was
Speaker 6: always a bit less than ten percent, so we were
Speaker 6: never overexposed. And in China what happened in the last
Speaker 6: years that there was the real estate crisis, which is
Speaker 6: still ongoing. So let's say the luxury market was the
Speaker 6: one suffering the most and it's still suffering.
Speaker 5: So for us, not being.
Speaker 6: That exposed, we had a quite easy task to reallocate
Speaker 6: the cars to other markets. And this is what we
Speaker 6: are still going. And this was let's say, the first
Speaker 6: surprise has happened. But now it's three years in the
Speaker 6: road in the market this week, so already in the budget,
Speaker 6: when at the beginning of the year we have an
Speaker 6: idea on where the market and where the cars are going.
Speaker 6: If they're not going to China.
Speaker 1: Do you guys even need to be in China, particularly a.
Speaker 5: Big market also for automobile. At Borghini, we are not
Speaker 5: yet to win a sprint race.
Speaker 6: We are here to stay and we always have a
Speaker 6: load of strategy, and therefore China is and will stay
Speaker 6: important for us.
Speaker 3: You know, over a third of your cars are sold
Speaker 3: in the US, I believe last year, right, and almost
Speaker 3: four thousand cars sold in the US.
Speaker 5: And three thousand in the US.
Speaker 3: Wasn't it like three thousand, seven hundred am I thinking
Speaker 3: of North America, the entire.
Speaker 5: Reach and so including.
Speaker 6: And also then the rest of the.
Speaker 5: South American So he wrought three thousand to the exact
Speaker 5: number I think give you the exact number was.
Speaker 6: Three thousand, two hundred and eighty four in the US.
Speaker 3: Wow, all right, so about a third, let's say almost
Speaker 3: a third. But it was growth, It was growth, right.
Speaker 6: It was from three thousand to three thousand to one
Speaker 6: at eighty four.
Speaker 3: So the thing is from twenty.
Speaker 5: Three to twenty four.
Speaker 3: I was surprised to see today. Somewhere I saw a story,
Speaker 3: I guess you talked to other news organizations as well,
Speaker 3: and somewhere I saw a story that tariffs could actually
Speaker 3: hurt Lamborghini sales in the US. I figured, you know,
Speaker 3: these products are in a pricing range that makes it
Speaker 3: sort of negligible. But are you concerned that tariffs would
Speaker 3: slow growth in the US and would you then make
Speaker 3: up for it with more sales in Europe?
Speaker 6: What we said is that we're working on scenarios and
Speaker 6: that we are waiting for the final, let's say, result
Speaker 6: of what is going to be announced by the beginning
Speaker 6: of April, and then we will act accordingly. But it's
Speaker 6: a bit too earn it out to talk about the
Speaker 6: type of decision we are going to take because.
Speaker 5: We're still working on the different scenarios.
Speaker 6: I never said more than this in all the interviews
Speaker 6: I gave in the last weeks.
Speaker 1: It does seem like in this time every automaker is
Speaker 1: really focused on staying extremely flexible and being very able
Speaker 1: to pivot to respond to multiple factors in the market.
Speaker 1: How nimble is Lamborghini? You guys are actually kind of
Speaker 1: more of a conservative, Like you say, you take a
Speaker 1: long view. How flexible are you to pivot if you
Speaker 1: need to?
Speaker 5: So?
Speaker 6: One of the key elements is the length of the
Speaker 6: other bank. No, we have one and a half years
Speaker 6: waiting list. We are never running for the peaks.
Speaker 5: We look very carefully in the size of the market
Speaker 5: each and every year. We don't We.
Speaker 6: Never try to be over exposed in one market because
Speaker 6: maybe there is in the.
Speaker 5: Moment in time.
Speaker 6: Euphoria buying our types of course, so we are very
Speaker 6: let's say, humble and conservative, as you said in the approach.
Speaker 5: And then when I look back since COVID.
Speaker 6: We had a lot of challenges no geo political ones
Speaker 6: which affected the business regionally and also globally, but we
Speaker 6: always were able to counter balance this with other markets
Speaker 6: and also by seeing how we can with other suppliers,
Speaker 6: let's say, out run the lack of supply. So until
Speaker 6: now the things went into.
Speaker 5: The right way. But it's yeah that there is a
Speaker 5: limit to everything.
Speaker 6: I think that our approach on exclusivity and scarcity is what,
Speaker 6: also in the comparison with most of our competitors, was.
Speaker 5: Positively impact our business.
Speaker 1: How closely are you guys looking at not wanting to
Speaker 1: push just straight volume? I mean ten thousand, I feel
Speaker 1: like you've kind of hovered around ten thousand units for
Speaker 1: the past few years. Is that the ceiling for you
Speaker 1: or would you even go up higher?
Speaker 6: Opportunities for sure to grow a bit, But if we
Speaker 6: grow is because the market demand is rising. At the
Speaker 6: end of the day, they are more high net individuals
Speaker 6: then a decade ago. But for the first time last
Speaker 6: year the luxury market.
Speaker 5: Was decreasing.
Speaker 6: So after the let's say the big rise in the
Speaker 6: years after COVID, for the first time, we reached a
Speaker 6: plateau in twenty.
Speaker 5: Three and now I think we have an adjusted.
Speaker 6: Market which, in our opinion, if nothing big is going
Speaker 6: to happen, will be stable over the next couple of years.
Speaker 6: And we are against the trend because we are still growing.
Speaker 6: So we have to observe this day is a limited
Speaker 6: opportunity and if this is something which is not affecting,
Speaker 6: then they years after we will catch them.
Speaker 1: Talk to us about technology a little bit in the cars,
Speaker 1: and I ask, knowing that younger buyers seem to want
Speaker 1: more tech and they want their car to be very intelligent, seamless,
Speaker 1: you know, have AI capabilities. Are you seeing that with
Speaker 1: your customers as well, that tech is extremely important inside
Speaker 1: the vehicle or is it all still just about engine performance.
Speaker 5: No, it's very important.
Speaker 6: It's maybe less important than in the premium brands because
Speaker 6: they are daily usable card, they are cars where you,
Speaker 6: let's say, have also almost an office, or you have
Speaker 6: such a use which is so extended.
Speaker 5: Over each and every day that you want to have all.
Speaker 6: The comfort you have also at home or in your office.
Speaker 6: For us, it's a bit different because it's still about
Speaker 6: enjoying the drive, but more and more we have to
Speaker 6: include what for the premium brands is already let's say,
Speaker 6: a daily.
Speaker 5: Usability, a daily mask.
Speaker 6: We're doing it and it's well accepted, but we have
Speaker 6: to do also here the things at the right time.
Speaker 6: We don't have to overload the cars because we also
Speaker 6: have to see the weight, the cost and where we
Speaker 6: put the money at the end of the day when
Speaker 6: once we develop ours.
Speaker 7: By the way, I was asking, sure we have a
Speaker 7: good advantage in this sense because we are part of
Speaker 7: the Volks one group and here in terms of software development,
Speaker 7: for sure against other competitors.
Speaker 6: Which might have the same size that we have. For sure,
Speaker 6: we have a better access to this type of technology.
Speaker 3: I was asking benedetto Vina about this and he said,
Speaker 3: no way, Jose, but would you consider differentiating yourself by
Speaker 3: offering a car that's purely analog you know, I mean
Speaker 3: a car with virtually no screens that has actual gauges
Speaker 3: and you know, a stick shift, a handbrake. I'm sure
Speaker 3: that in the in the million, two, three, four million
Speaker 3: dollar stratosphere, you could sell a car like that.
Speaker 6: Well, you know, once when you decide to develop a car,
Speaker 6: you have a platform and you have to decide whether
Speaker 6: you're left or round. The platform never catches everything. So
Speaker 6: for us, we have to find the perfect balance for
Speaker 6: the majority of the customers. So technology is to the
Speaker 6: utmost performance and it's about the combustion engines. It's about
Speaker 6: the emotion which is giving you. But for sure a
Speaker 6: time being, we are not planning to have stick shifts.
Speaker 6: We are planning always to have what is possible in
Speaker 6: terms of analog and analog.
Speaker 5: Feeling, also the touch. We have all the levers which.
Speaker 6: Are analog for example, so we have a mix between
Speaker 6: screens and the click.
Speaker 5: And more and more. Also then we will have voice control.
Speaker 6: So this is a balance which is let's say, a
Speaker 6: moving target and more and more. We have to adapt
Speaker 6: ourselves and the development of the future to the future generations.
Speaker 5: But the analog feeling has to remain. And this is
Speaker 5: what we think.
Speaker 6: Also by looking back in the development of other manufacturers
Speaker 6: which we are going too much digital.
Speaker 5: Now they're rowing back and they're.
Speaker 6: Getting back to a lot of analog opportunities, and there
Speaker 6: we have to have the right approach, and I think
Speaker 6: that in our car is we still have this.
Speaker 3: By the way, I don't think so. My knee jerk
Speaker 3: reaction because I'm an old man is to say I
Speaker 3: don't want any screens or anything digital. But I just
Speaker 3: spent a week in the Lamborghini Orus, and I thought
Speaker 3: the execution of the interior was elegantly done. I mean,
Speaker 3: it was really an enjoyable place to spend some time,
Speaker 3: and everything was so intuitive and easy to use. So
Speaker 3: I don't have a problem with the way you're doing it.
Speaker 3: In fact, I think you're doing it better than any
Speaker 3: of your competitors.
Speaker 5: But by the way, this is a huge problem, so
Speaker 5: it's okay.
Speaker 3: By the way, Stephn, I was wondering, what do you
Speaker 3: think you do better than anybody else? I mean I
Speaker 3: was thinking about all of the The paint finish was
Speaker 3: flawless on the Orus, and I love the way that
Speaker 3: you execute the design. The interior looks like high quality
Speaker 3: fit and finish. Obviously, the driving experience is fantastic across
Speaker 3: the line. But what do you think Lamborghini does better
Speaker 3: than anyone else?
Speaker 5: I can tell where we put our biggest effort.
Speaker 6: The biggest effort we put into the driving experience. So
Speaker 6: performance and design are the two main pillars for us
Speaker 6: to be successful.
Speaker 5: I think the design is always very remarkable and.
Speaker 6: Very distinctive and very clear, as recognizable as Lamborghini, and
Speaker 6: this is what we are continuing to achieve, at least
Speaker 6: in the years I'm in this company. We are doing
Speaker 6: I think a pretty good job. And the next point
Speaker 6: is the performance. How you translate performance, a new performance
Speaker 6: into the Lamborghini by creating additional power output, better handling behavior,
Speaker 6: and still this.
Speaker 5: Emotional behavior of the card.
Speaker 6: These are the two elements where we are, let's say, spend.
Speaker 5: The most of our ideas and research, and this.
Speaker 6: Will continue also in the future because this is what
Speaker 6: we learned over the decades. This is what we are
Speaker 6: continuing to do, and this is what the customers also
Speaker 6: expect from us.
Speaker 5: If we are the best. It is not mean to decide.
Speaker 4: Yeah, well makes sense to me.
Speaker 1: I mean, I think it's interesting as we move forward
Speaker 1: into the ev world. You're right, there is a space
Speaker 1: for a very emotional combustion engine or even hybrid type
Speaker 1: of car that is just completely different than the EV.
Speaker 6: Yes, but also the EV the future has to get
Speaker 6: this emotionalization which today is missing in the electric Carris I.
Speaker 1: Was going to add, if that's possible, you think that's
Speaker 1: possible that we have so I.
Speaker 6: Think that with the new software, with the the technology,
Speaker 6: with the power output, a lot can be done.
Speaker 5: We are working on it. We are driving a lot of.
Speaker 6: Electric cars to see how they behave and how the
Speaker 6: strategy is inside the cars to translate the electric behavior
Speaker 6: and something typical for the different brands, and we are
Speaker 6: looking into it and we will find out a way.
Speaker 6: And we have now a four to five years time
Speaker 6: and I think that this is what the time we need.
Speaker 6: And I also think that not starting with the supercars,
Speaker 6: but starting with the car which is yes, very performance oriented,
Speaker 6: but differently a performance oriented like the works on Tibetario,
Speaker 6: is the right approach.
Speaker 3: You have that big ball behind you. This is an
Speaker 3: audio podcast, so people can't see, but you're sitting in
Speaker 3: front of a huge a picture of a huge ball.
Speaker 3: And I hope that Lamborghinis a race. I hope is
Speaker 3: always going to be a living, breathing, kind of unpredictable animal.
Speaker 3: That's the that's what you want from a Lamborghini. I
Speaker 3: want to know. I have a few like weird questions. Colors.
Speaker 3: I always think of Lamborghini as having some of the
Speaker 3: most interesting and exciting colors, right, I like to see
Speaker 3: a Lamborghini in an acid green or in almost like
Speaker 3: an offensive orange, or you know, a purple that you
Speaker 3: don't normally see a car. How do you choose your colors?
Speaker 3: Which colors are the most popular for you? And how
Speaker 3: do you go about the paint because I know you
Speaker 3: used to do some of it in Necker Zoom and
Speaker 3: some of it down the road, and now you've put
Speaker 3: a new facility in Santa Agata.
Speaker 6: Oh you know that we don't have one color Lamborghini
Speaker 6: which is the typical Lamborghini car. Yes, it was a
Speaker 6: lot of plague and yellow. These were back in time,
Speaker 6: let's say, the two colors which were ready finding Lamborghinian.
Speaker 6: But when the Mura came out in the sixties, orange
Speaker 6: green and yellow, those which were at that time almost
Speaker 6: impossible to find another car. So this was a bit
Speaker 6: the blueprint of what we did or what we're doing
Speaker 6: since then. Today we have four hundred different colors you
Speaker 6: can pick, but not only you can also create your
Speaker 6: own color. We have colors which are combined, so we
Speaker 6: have fading colors which are going from one type of
Speaker 6: color into the next. So this is something which in
Speaker 6: my opinion on Doamborghini does much more than all the
Speaker 6: other manufacturers together. And yes, we have our paint job
Speaker 6: which was very important for us as a game changer,
Speaker 6: and we are very happy about this and we are
Speaker 6: continuously helping new colors because the point is that if
Speaker 6: we speak about colors, we also speak about individualization of
Speaker 6: our cars.
Speaker 5: And the individualization is one of the things which the
Speaker 5: customer us want the most.
Speaker 6: On top of what they choose as a type of car,
Speaker 6: they want a car which is very unique. And here
Speaker 6: the bottleneck is Lamborghini because the complexity and the development
Speaker 6: of all the additional opportunities is not something which we
Speaker 6: can do just by flipping a coin, but it's something
Speaker 6: which takes time and also investments, and it has to
Speaker 6: be then translated into something which is let's say, commercially
Speaker 6: translate into a car which is coming out at the
Speaker 6: end of the line, which is the car you wanted.
Speaker 6: So it's a very complex world. We are constantly investing
Speaker 6: more in this, and especially when we have limited numbers
Speaker 6: because the segment is so small.
Speaker 5: This is a good and not.
Speaker 6: Only for the customers but also for us in terms
Speaker 6: of margin.
Speaker 3: Is there one color though that people today?
Speaker 5: Yes, you ask me about the favors.
Speaker 8: I have to say inside all of this, the guitars,
Speaker 8: which are the most taken is very black. These are
Speaker 8: the oh no, guys have the highest amount in terms
Speaker 8: of penetration.
Speaker 1: I want orange and green, and we need to get
Speaker 1: some in like green and orange to get the numbers up.
Speaker 5: To something at least just to buy three one hit
Speaker 5: one green and orange.
Speaker 3: Yes, yes, this is actually a car where I Lamborghini
Speaker 3: is a brand where I think white sometimes works. So
Speaker 3: you had the so my everyone knows my favorite car
Speaker 3: is the Event to door, But you had this coontash
Speaker 3: kind of anniversary model, the LPI eight hundred right that
Speaker 3: you put out in I think twenty twenty two, and
Speaker 3: it looks beautiful, beautiful and white. I was wondering how
Speaker 3: that experience was for Lamborghini because I've thought, you know,
Speaker 3: it would be cool to have a throwback Mura as well,
Speaker 3: or you know some other you know Diablo. I know
Speaker 3: Hannah loves the Diablo, so like, have you thought about
Speaker 3: taking a piece that market before some other singer like
Speaker 3: company you know, takes a piece of that from you.
Speaker 6: I hear message here because for me it was okay
Speaker 6: to do the con touch it with.
Speaker 5: A great success.
Speaker 6: We sold the cars really in the blink of an eye.
Speaker 6: And I also think it was the right approach because
Speaker 6: the Mura is representing the DNA of the brand. In
Speaker 6: terms of designs over the kept forward with the scissor doors,
Speaker 6: with the layout, having the the gearbox in the middle
Speaker 6: so in the tunnel between the driver and the passenger,
Speaker 6: and having the mid twelfth also here and a typical
Speaker 6: Lamborghini longitudinally mounted in the back of the car.
Speaker 5: So this was and sill is really big in terms.
Speaker 6: Of DNA and therefore were But I also have to
Speaker 6: say that Bmborghini is forward thinking.
Speaker 5: So I always ask myself.
Speaker 6: And all my people we have to be innovators, not
Speaker 6: only in terms of technology, but also in terms of design.
Speaker 6: There must be some elements of ideas which are remembering
Speaker 6: that we are a Burghini, but I asked.
Speaker 5: Them, when they look when a customer.
Speaker 6: Or a new kid is looking back to our period
Speaker 6: of time in thirty years from now and they see
Speaker 6: what we did the Mura at the yard blow and
Speaker 6: so on and so forth, they would say they were
Speaker 6: running out of ideas because they were not innovative anymore.
Speaker 6: And this is what, in my opinion, is also the
Speaker 6: key element not only for our bread but also of
Speaker 6: our cars. So always to be trendsetters and ahead of
Speaker 6: the time in every sense in terms of technology.
Speaker 5: But also especially in terms of design.
Speaker 3: All right, that was Stettnwinelmann. It's always it really is
Speaker 3: great to talk to him. And I mean, I feel
Speaker 3: like it's hard for me to be impartial. Everyone knows
Speaker 3: I love Lamborghini's, but I do try and maintain I
Speaker 3: do try and maintain some element of impartiality.
Speaker 1: Well, you know, the thing about Lamborghini's is they're definitely
Speaker 1: not for everybody, and they're certainly not for every situation.
Speaker 4: You know, it's very.
Speaker 1: Strong flavor and sometimes you don't want that. And that's
Speaker 1: that's not a quality or a character judgment. It's just
Speaker 1: this is a very specific car specific tool that's not
Speaker 1: really suitable for every situation.
Speaker 4: This is not a Swiss armon knife.
Speaker 3: The ones that are not for every situation, I like
Speaker 3: them even better, right, I prefer those to the ones
Speaker 3: like the ours. You could use it for almost anything,
Speaker 3: and I don't like it as much as I like
Speaker 3: an eventa door or a hurricane Sterrato. So in any case,
Speaker 3: great to get some time with him. And I would
Speaker 3: definitely take orange if I had to choose any Lamborghini color.
Speaker 4: Orange just then I still like white.
Speaker 3: So uh and the kon By the way, did you
Speaker 3: google the kuontash when we were talking about it? The Couontash,
Speaker 3: I think it's the uh two exactly, Yeah.
Speaker 4: Their reimagination of it. I remember seeing that car in
Speaker 4: Tebble deeep.
Speaker 3: Yeah, the LPI eight hundred dash four. That's basically the
Speaker 3: evented or rebodied as.
Speaker 1: A Cuontash, Right, And you know that car wasn't especially
Speaker 1: welcomed universally when it came out. There were a plenty
Speaker 1: of people, at least among the journalistic ranks, who thought,
Speaker 1: why are we doing this? You know, it's it's just
Speaker 1: rehashing old things.
Speaker 4: But I liked it. I had no problem with it.
Speaker 4: It looked cool.
Speaker 3: I love it.
Speaker 4: Obviously, if one of.
Speaker 3: The one hundred and twelve people that got one doesn't
Speaker 3: want it, I would be happy to take it.
Speaker 1: I mean, the cool thing would be to have both
Speaker 1: the old one and the new one.
Speaker 3: I don't really like the old Coontash. I mean, it's
Speaker 3: what no, I don't. I don't because I look at
Speaker 3: it and it looks like that is an uncomfortable car
Speaker 3: to sit in in a difficult car to drive. And
Speaker 3: I could be wrong. I think some people who've had
Speaker 3: them have said it's great fun to drive. I think
Speaker 3: Doug DeMuro says.
Speaker 4: That you like you like driving tractors.
Speaker 3: But yeah, the team. The two people I know for
Speaker 3: sure that have Kuontash's Matt Farrah and Doug DeMuro. And
Speaker 3: I don't know how either one of those guys fits
Speaker 3: in Lamborghini.
Speaker 4: Coon Tosh kind of roll in.
Speaker 5: Yo.
Speaker 3: I'm going to go to We have one more show
Speaker 3: before I go, But next week I'm going to go
Speaker 3: to Moto GP in Austin, and I've been watching. There
Speaker 3: have been two race weekends thus far in the new season,
Speaker 3: and I think there's some interesting parallels and real differences
Speaker 3: between what's going on in Moto GP and Ferrari in
Speaker 3: that the goat like arguably the greatest drivers of all
Speaker 3: time have switched into a red brand. Right, So in
Speaker 3: Formula one Lewis Hamilton, who I'm not saying he is
Speaker 3: the best ever, but you could make an argument that
Speaker 3: he is, okay.
Speaker 1: Besides Macher, but yes he is the best ever. I'm
Speaker 1: counting championship okay, So.
Speaker 3: But he's driving a Ferrari, which is, you know, the
Speaker 3: like ultimate brand I think in Formula one, Formula one
Speaker 3: and in in Moto GP, Mark Marquez is could you
Speaker 3: there's an argument that he's the greatest ever. A lot
Speaker 3: of people will say Valentino Rossi and then there are
Speaker 3: you know, jockam Augustini or whatever. They are older people
Speaker 3: like Fongio type drivers that some would argue. But in
Speaker 3: any case, you could make an argument. And he's driving
Speaker 3: a Ducatti now, I mean he's driving a factory Ducatti now,
Speaker 3: so those are the similarities. The difference is Mark Marquez
Speaker 3: has absolutely dominated now that he's in a factory bike.
Speaker 3: He's won the pole position both weekends, he's won the
Speaker 3: sprint race both weekends, and he's won the main race
Speaker 3: both weekends and he's made it look like child's play.
Speaker 3: I mean, there was a point in the first race
Speaker 3: where he was worried that his tire pressure would be
Speaker 3: too low because they have regulations about the PSI. So
Speaker 3: he let his brother pass him for a while for
Speaker 3: like ten laps, and then nearing the end of the
Speaker 3: race he pulled back ahead and won. And then I
Speaker 3: don't really watch Formula One because to me, whenever I try,
Speaker 3: it seems kind of boring. They don't pass enough.
Speaker 1: I don't like there are there are there. There is
Speaker 1: certainly passing. I mean it's not as much passing as
Speaker 1: Moto GP.
Speaker 3: But but but Hamilton has not apparently did not dominate
Speaker 3: or really show serious promise.
Speaker 1: And this super young guy who replaced Hamilton at Mercedes
Speaker 1: Antonelli did amazing. He got fourth, He just missed making
Speaker 1: the podium and he, I believe, is eighteen, which is wild.
Speaker 4: So, you know, I like Hamilton.
Speaker 1: I think he's really a statesman for the sport, and
Speaker 1: unfortunately maybe he's the elder statesman at this point. You know,
Speaker 1: he's he's spoken until he's blue in the face about
Speaker 1: how age isn't a thing for him.
Speaker 4: But this has got to be so disappointing.
Speaker 3: He's ten in this In fact, Lecleric is eighth. So
Speaker 3: the other guy on the other side of the garage
Speaker 3: is doing better. And my question, I don't know enough
Speaker 3: about the sport to answer, but is this just growing pains?
Speaker 3: Is he just getting used to the car and is
Speaker 3: it going to be like, you know, next year he'll
Speaker 3: dominate or at the end of this year he's going
Speaker 3: to start like winning every race or going on the
Speaker 3: podium every time, or all of those.
Speaker 1: I'm sure all of those things apply. But at the
Speaker 1: end of the day, mister replacement, Antonelli also had to
Speaker 1: get used to a new car and just completely completely
Speaker 1: showed everyone. You know, at this point, this is not
Speaker 1: a new sport to Lewis Hamilton. He's not new here.
Speaker 1: He doesn't have a lot of time to get used
Speaker 1: to the car and learn, you know.
Speaker 3: He but he has just as much time as Antonelli had, right.
Speaker 4: He has just as much time as anyone.
Speaker 1: Yeah, And it's like, think how much of a statement
Speaker 1: it would have been if he came out and made
Speaker 1: the podium in the first race for Ferrari. That would
Speaker 1: have been just a resounding clap back to everyone who
Speaker 1: said he's too old or whatever, and that didn't happen,
Speaker 1: So I hope that you know, I.
Speaker 3: Mean to be to be to be fair to him.
Speaker 3: Ferrari isn't the Ducati of Formula one, right, They're not
Speaker 3: the dominant manufacturer. They haven't, they haven't. They haven't happened
Speaker 3: for a long time, not recently. But the guy on
Speaker 3: the other side of the garage did better, you know,
Speaker 3: as you mentioned, his replacement Antonelli did a lot better.
Speaker 3: Lance Stroll from Aston Martin did better. I mean, you know,
Speaker 3: nine guys did better. So I don't know how to
Speaker 3: read it, but does this.
Speaker 4: Make you curious to follow now?
Speaker 3: Like it does? It's interesting, you know, So Hamilton going
Speaker 3: to Ferrari and not winning and not even doing as
Speaker 3: well as his teammate and not doing as well as
Speaker 3: Lance Stroll and an Aston Martin like that does kind
Speaker 3: of make me want to watch to see what's going on.
Speaker 3: Ken Ferrari pull a rabbit out of a hat? Can
Speaker 3: can Lewis Hamilton come back?
Speaker 1: I like old guys, you know, champion, he's got it,
Speaker 1: He's taken punches, he's got to get up one more time.
Speaker 1: He's on the ropes he's on the mat. You know,
Speaker 1: he's got to get up again one more time. If
Speaker 1: he gets up one more time, he will be undisputed
Speaker 1: the best ever.
Speaker 4: But he's got to get up.
Speaker 3: All right, Well, I look forward to seeing how that
Speaker 3: turns out. I'm sure Mark Marquez is going to win
Speaker 3: the sprint and the race in coda.
Speaker 4: How old is Mark Marquez?
Speaker 3: I think he's thirty two. Maybe he's not one of
Speaker 3: the young kids. So as an example, when he came
Speaker 3: to this team, and also when he came when he
Speaker 3: went to the team he was racing for last year,
Speaker 3: they suggested a thumb break because the kids all use
Speaker 3: thumbreak because they don't use a foot break for the
Speaker 3: rear rear end. And both times Marcus said, nope, I
Speaker 3: can't get used to it. I'm not like, you know,
Speaker 3: an eighteen year old in this sport. And wow, he
Speaker 3: sticks with the tried and true foot break and he's
Speaker 3: better at breaking than anyone else.
Speaker 1: So wow, here here's here's a sports related question. Have
Speaker 1: you been watching the HBO documentary about the Celtics.
Speaker 3: I haven't, actually, And you know, the Celtics sold for
Speaker 3: six point one billion dollars.
Speaker 4: I did not see that.
Speaker 3: Yeah, who bottom the most ever paid for? I think
Speaker 3: that's the most ever paid for any sports team in America,
Speaker 3: And it was Who's Who's the guy a private equity guy,
Speaker 3: Bill Chisholm, William Chisholm, who founded STG Partners. But he's
Speaker 3: like a Boston native, so cool that he got to
Speaker 3: take a over.
Speaker 4: Wow, are you interested in basketball at all?
Speaker 6: Matter?
Speaker 3: No, you know what, I love going to basketball games.
Speaker 3: In terms of live sports to watch, I think basketball
Speaker 3: would be my favorite after racing. And when I was
Speaker 3: a kid, I was a huge Lakers fan and I
Speaker 3: hated the Celtics, but I haven't been watching lately. I
Speaker 3: did live in Germany for many years, so there was
Speaker 3: not much in NBA to watch there.
Speaker 4: Well, I thought it was pretty good.
Speaker 1: I actually my dad was a big Celtics fan during
Speaker 1: the Larry Bird era, so you know that that team
Speaker 1: does have a little log in my memory. It's good
Speaker 1: if you do end up watching it.
Speaker 3: All right, Well, I think that does it for us
Speaker 3: this week because we've started talking about basketball. But oh no,
Speaker 3: We'll be back, same time, same place next week.
Speaker 1: I'm Matt Miller and I'm Hannah Elliott, and this is
Speaker 1: Bloomberg