WEBVTT - Lamborghini's Stephan Winkelmann; Plus, a Ride in the New CLA Sedan 0:00:01.520 --> 0:00:04.760 I'm Matt Miller and I'm Hannah Elliott and this is Hot. 0:00:04.559 --> 0:00:15.760 Pursuit, and uh, you are back state side, so I'm 0:00:15.800 --> 0:00:16.560 back state side. 0:00:18.160 --> 0:00:20.360 I'm really excited to hear about your time in Rome, 0:00:20.720 --> 0:00:22.760 mainly because I want to hear about Ola, but also 0:00:22.840 --> 0:00:24.920 about the car that you were driving, the c LA, 0:00:25.880 --> 0:00:29.280 and you also have wrangled us a pretty awesome interview 0:00:29.320 --> 0:00:29.800 for today. 0:00:31.200 --> 0:00:34.519 Stefan Winkelman or Stephen Winkleman defending you say it the 0:00:34.560 --> 0:00:35.280 German way. 0:00:35.840 --> 0:00:38.959 I do, And but he's actually from Italy. 0:00:38.880 --> 0:00:41.560 So Berlin. Well he's but also Berlin. 0:00:42.440 --> 0:00:46.519 Yeah, I'm wait, wait we so he grew up in Italy. 0:00:47.440 --> 0:00:49.479 Maybe he was born at Charity and then he grew 0:00:49.560 --> 0:00:53.080 up in Rome. Yeah, so he has a German sounding name, 0:00:53.159 --> 0:00:56.120 but he's like actually an Italian dude. And of course 0:00:56.160 --> 0:00:58.120 he's always worked with like German companies. 0:00:58.840 --> 0:01:01.840 Yes, and we should say he's the CEO and chairman 0:01:01.840 --> 0:01:05.160 and CEO of Lamborghini and has been for many years now, 0:01:05.200 --> 0:01:08.160 so he's really kind of indelible with the brand in 0:01:08.200 --> 0:01:09.279 my mind at this point. 0:01:09.360 --> 0:01:12.360 He was there for a while and then he left 0:01:12.440 --> 0:01:14.839 and then he came back. So there was uh Winkleman 0:01:14.840 --> 0:01:19.040 in one point. Oh, and then when he left Domenicali 0:01:19.160 --> 0:01:23.760 step Stephan Domenicali ran Lamborghini. Then now he's running F 0:01:23.800 --> 0:01:26.200 one and then and Winkleman was running Bugatti. 0:01:26.560 --> 0:01:27.319 Well yeah, and. 0:01:27.319 --> 0:01:30.679 For a while, remember when Winkleman was running Bugatti and 0:01:30.800 --> 0:01:32.320 Lamborghini at the same time. 0:01:32.200 --> 0:01:34.680 Yes, which seems like a lot. 0:01:35.600 --> 0:01:35.800 Yeah. 0:01:35.880 --> 0:01:39.160 Now he's just at Lamborghini again, which feels like really 0:01:39.200 --> 0:01:40.280 his spiritual home. 0:01:40.360 --> 0:01:42.400 Exactly, And to me it feels like that too. But 0:01:42.480 --> 0:01:44.800 I think he enjoyed this time at Bugatti, and I 0:01:44.800 --> 0:01:48.280 got to drive some Bugattis with him at the track, 0:01:48.360 --> 0:01:51.280 which was lucky. Pretty I've driven Lamborghini's with him at 0:01:51.320 --> 0:01:53.240 the track and I've driven Bugatties with him at the track. 0:01:53.400 --> 0:01:55.360 So he was driving and you were in the passenger 0:01:55.360 --> 0:01:55.960 seat both. 0:01:56.200 --> 0:01:57.440 Yeah. 0:01:57.000 --> 0:01:59.720 How good a driver was he? 0:01:59.720 --> 0:02:02.960 He is? I think he's more concerned with the business, 0:02:03.680 --> 0:02:06.440 of course than the but I mean he's you know, 0:02:06.480 --> 0:02:08.520 obviously he's a better driver than I am, because I'm not. 0:02:09.520 --> 0:02:12.600 Yeah, I was just curious if he was like very aggressive, 0:02:12.919 --> 0:02:15.760 like really trying to show off taking corners, or just 0:02:15.840 --> 0:02:17.200 more relaxed. 0:02:17.280 --> 0:02:21.079 No. I think, well, when you're driving a Bugatti, certainly 0:02:21.760 --> 0:02:24.359 your first order of business is not wrecking it. 0:02:25.000 --> 0:02:26.880 Yeah, don't wreck the car, you know, it's number one. 0:02:27.160 --> 0:02:29.760 And that was the rubber down and the steal up. 0:02:29.919 --> 0:02:32.560 That was on a pretty tight track in Germany. The Lamborghini. 0:02:33.360 --> 0:02:36.720 I went to drive the evented Door Svo with him 0:02:36.880 --> 0:02:40.920 in Barcelona on the Formula one track, so there's a 0:02:40.919 --> 0:02:44.560 lot more room to run off cool, although I didn't. 0:02:44.400 --> 0:02:45.080 Wreck that either. 0:02:46.120 --> 0:02:48.520 I've said this before, but I have this one great 0:02:48.560 --> 0:02:51.640 memory of him. I was driving in Rome and I 0:02:51.760 --> 0:02:58.519 saw him in a Bugatti with someone else who was 0:02:58.639 --> 0:03:03.200 very beautiful, and it was just the classic Italian sighting. 0:03:03.639 --> 0:03:04.160 It was great. 0:03:04.680 --> 0:03:08.880 Probably his wife. She's very beautiful. She's like supermodel. Like 0:03:08.919 --> 0:03:11.400 when you see her, you're like, oh my god, she's famous. 0:03:11.720 --> 0:03:14.400 But you like coler than me, Yes, I know, Yes, 0:03:14.600 --> 0:03:15.960 I love a woman who's coller than me. 0:03:16.040 --> 0:03:16.400 All right. 0:03:16.440 --> 0:03:18.920 So and anyway, you were just in Rome. This is 0:03:18.960 --> 0:03:21.000 not the time that you saw Stephan Winkleman, but you 0:03:21.040 --> 0:03:24.480 were just in Rome with Ola Collenius, who runs the 0:03:24.520 --> 0:03:25.520 Mercedes Benz group. 0:03:26.400 --> 0:03:31.000 Yes he's actually Swedish speaking of countries, but I would Yes, 0:03:31.080 --> 0:03:33.720 I was with Ola and we took a drive in 0:03:33.800 --> 0:03:40.240 the New CLA Sedan, which is Mercedes entry level sedan. 0:03:40.280 --> 0:03:42.440 It's going to be the most affordable car that they 0:03:42.480 --> 0:03:46.280 have debuted, and it's the most advanced, which I find 0:03:46.320 --> 0:03:49.960 really interesting because they are choosing to develop all this 0:03:50.080 --> 0:03:53.160 new technology and not put it in their top of 0:03:53.200 --> 0:03:57.520 the line AMG stuff or S class or my box stuff. 0:03:57.520 --> 0:04:01.800 They're putting truly this supercomputer that they've developed in house 0:04:02.320 --> 0:04:05.280 into their entry level sedan, which is really interesting. I 0:04:05.320 --> 0:04:08.240 think this is going This is them going straight for 0:04:08.360 --> 0:04:11.600 Tesla and really trying to capture some more of the 0:04:11.640 --> 0:04:15.920 market in China. But yes, I rode around with Ola 0:04:16.040 --> 0:04:18.839 in Rome in the car and it was great. We 0:04:18.880 --> 0:04:23.839 had a whole conversation. The car should start around fifty 0:04:23.920 --> 0:04:27.599 thousand euros. They haven't finalized pricing for the US, but 0:04:28.560 --> 0:04:31.720 kind of beautiful. I actually thought it might be a 0:04:31.760 --> 0:04:35.719 little bit of a boring car because lately some of 0:04:35.720 --> 0:04:39.640 the Mercedes have tended to just look like jellybeans. But 0:04:39.760 --> 0:04:43.920 it actually had some great defining lines. The grills very cool, 0:04:44.560 --> 0:04:49.640 the dashboard spans from pillar to pillar inside the vehicle, 0:04:49.839 --> 0:04:52.520 and it's it is really well done. I have to say, 0:04:52.960 --> 0:04:55.320 it doesn't feel entry level when you get inside. 0:04:55.960 --> 0:04:59.160 That's good to hear. And yeah, man, there's never been 0:04:59.160 --> 0:05:03.160 a better time to go straight after Tesla, right exactly. 0:05:03.600 --> 0:05:04.960 I mean they couldn't have planned it better. 0:05:05.360 --> 0:05:07.800 There can be some some would be buyers that are 0:05:07.839 --> 0:05:10.960 just not willing to fork out for a Tesla, But 0:05:11.080 --> 0:05:13.599 that's cool that you that you liked it, and that 0:05:13.800 --> 0:05:16.320 isn't a jelly being because I always think, or lately 0:05:16.360 --> 0:05:20.560 I think of Mercedes they're like Moorish you know, palaces 0:05:20.600 --> 0:05:22.800 where from the outside it's like mah, but then you 0:05:22.800 --> 0:05:24.800 get inside and you're like, oh my god, this is awesome. 0:05:25.240 --> 0:05:28.400 Yeah, yeah, this is I think it's step. It's it's 0:05:28.400 --> 0:05:32.240 a it's not it's not a massive change, but I 0:05:32.279 --> 0:05:36.920 can feel a shift back. It's the ship is writing itself. 0:05:37.000 --> 0:05:41.880 The ship is slowly turning. And the other interesting thing 0:05:41.920 --> 0:05:45.760 about this CLA is they're introducing the electric version in 0:05:45.839 --> 0:05:49.119 the US and then next year they're bringing a hybrid version, 0:05:50.080 --> 0:05:53.200 which also is a little bit counterintuitive. I would think 0:05:53.240 --> 0:05:55.400 you'd start with the hybrid and then follow up with 0:05:55.440 --> 0:05:59.800 the EV, but they've they've flipped it, and this is 0:05:59.880 --> 0:06:03.039 again a pivot. I think at one point they would 0:06:03.040 --> 0:06:05.680 not have even bothered with bringing a hybrid version to 0:06:05.760 --> 0:06:07.839 the US, but now they realize they do need to 0:06:07.839 --> 0:06:11.159 still maintain combustion options for people. 0:06:11.279 --> 0:06:15.200 Right, there's like Scout, Scout did the same pivot, right, yes, 0:06:16.040 --> 0:06:18.240 or we'll do the same pivot, you know, now that 0:06:18.320 --> 0:06:22.640 you mention it. I'm looking at the CLA, the older CLA, 0:06:22.839 --> 0:06:27.400 and I just had this BMW, which I liked very much. 0:06:27.480 --> 0:06:31.280 But I've been noticing Audi's on the road that if 0:06:31.320 --> 0:06:35.320 you take the badges off of sort of late model, 0:06:37.000 --> 0:06:41.480 more entry level German cars, they all could look exactly 0:06:41.520 --> 0:06:45.359 like one another. I mean, there's hardly a differentiator. 0:06:45.839 --> 0:06:48.480 I know, especially the big sedans and the subs. 0:06:49.000 --> 0:06:51.960 Take off the grill, take out the kidney beans or 0:06:52.000 --> 0:06:55.279 the star or the four rings, and then you don't 0:06:55.400 --> 0:06:56.800 know what you're looking at. It's all the same. 0:06:57.760 --> 0:07:00.760 It actually makes it pretty difficult to review them because, 0:07:01.480 --> 0:07:04.680 like you say, you know, they're all owned by the 0:07:04.760 --> 0:07:07.800 same three companies or the same two companies, depending on 0:07:08.200 --> 0:07:11.080 what we're talking about, and there's a lot of part 0:07:11.080 --> 0:07:16.360 sharing going on. So yeah, it's I do since that Automakers, 0:07:16.440 --> 0:07:20.760 and you know, mister Winkleman says too, it's important to 0:07:20.800 --> 0:07:25.160 differentiate yourself a bit, and I think they realize that 0:07:25.280 --> 0:07:28.480 because everything just tends to blur and gloss over, and 0:07:28.520 --> 0:07:31.160 that's not actually good in the long run for developing 0:07:31.280 --> 0:07:34.320 brand loyalty, among other things. 0:07:34.640 --> 0:07:38.600 All right, well, let's get into our interview with Stephan Winklman, 0:07:38.960 --> 0:07:41.280 the CEO of Lamborghini. 0:07:41.560 --> 0:07:42.200 It's such an. 0:07:42.120 --> 0:07:45.679 Honor as always to talk with you, mister Stephen Winkleman, 0:07:45.760 --> 0:07:51.280 the chairman and CEO of Automobile Lamborghini, and you come 0:07:51.320 --> 0:07:54.080 with happy tidings. I know you guys have just released 0:07:54.240 --> 0:07:57.360 earnings for twenty twenty four. Can you just give us 0:07:57.520 --> 0:08:00.760 a top overview. It looks like you have a very 0:08:00.800 --> 0:08:01.360 strong year. 0:08:02.240 --> 0:08:05.160 Yes, in fact, today is a very good day. 0:08:05.680 --> 0:08:09.760 We are announcing again a record year for the year 0:08:09.800 --> 0:08:10.840 twenty twenty four. 0:08:11.240 --> 0:08:14.040 The turnover for the first time is exceeding that. 0:08:14.160 --> 0:08:19.160 Three billion, with approximately three point one billion euro with 0:08:19.240 --> 0:08:23.080 an operating profit of eight hundred and thirty five Also, 0:08:23.160 --> 0:08:26.000 this is a record high. And also the deliveries to 0:08:26.120 --> 0:08:29.480 customers with ten thousand, six hundred and eighty seven cars 0:08:29.960 --> 0:08:31.440 again something incredible. 0:08:31.520 --> 0:08:33.920 And also your record high. 0:08:34.240 --> 0:08:37.040 The ROS is at twenty seven percent, so we are 0:08:37.200 --> 0:08:40.400 well established and this again is not something we are 0:08:40.440 --> 0:08:43.000 doing to have a record or running for the peaks. 0:08:43.360 --> 0:08:45.760 We are doing it by having a solid order bank, 0:08:45.760 --> 0:08:49.000 which time being is lasting one and a half years. 0:08:49.040 --> 0:08:53.800 So exclusivity scarcity is the talk of the day. 0:08:53.960 --> 0:08:57.200 And it's also about all the lineup renewed and this 0:08:57.360 --> 0:08:59.960 is that's a good sign for the future of LOM 0:09:01.080 --> 0:09:01.600 Can I ask? 0:09:01.640 --> 0:09:04.520 I mean, I just want to ask about the breakdown. 0:09:04.559 --> 0:09:10.160 So ten thousand, more than ten thousand cars, and how 0:09:10.160 --> 0:09:13.520 many of those are you know, Revuelt's and how many 0:09:13.600 --> 0:09:14.319 are uruses? 0:09:15.600 --> 0:09:18.600 We have about the US is a bit more than 0:09:18.679 --> 0:09:21.640 five thousands, so around five thousand, five hundred. We have 0:09:21.760 --> 0:09:26.120 around fourteen hundred reuelto and the rest is Hurakan So 0:09:26.200 --> 0:09:30.080 we have more les. 0:09:29.440 --> 0:09:33.760 Fifty to fifty between the two. 0:09:34.080 --> 0:09:36.600 Let's say type of cars, the supercars on one end 0:09:36.679 --> 0:09:39.120 side and the Urus on the other side. 0:09:39.640 --> 0:09:40.760 I think that's so interesting. 0:09:40.840 --> 0:09:43.200 Can you talk a little bit about the breakdown since 0:09:43.200 --> 0:09:48.520 we're talking about breakdowns of hybrids versus combustion engines. Of course, 0:09:49.000 --> 0:09:52.000 everyone last year seemed to be a little surprised evs 0:09:52.040 --> 0:09:56.200 weren't selling more. You guys have said you're really going 0:09:56.320 --> 0:09:59.360 to stay in the hybrid and combustion range for a while. 0:10:01.000 --> 0:10:02.240 What's your update with that. 0:10:03.840 --> 0:10:04.640 I think that. 0:10:06.000 --> 0:10:11.160 Now speaking the twentieth March, twentieth of March and twenty five, 0:10:12.000 --> 0:10:15.680 the decisions we talk in the last years were the 0:10:15.760 --> 0:10:18.760 right ones because we said, we don't need to be 0:10:18.840 --> 0:10:20.880 the first ones to do the things, but when we 0:10:20.960 --> 0:10:22.960 do it, we have to do it right, and we 0:10:23.040 --> 0:10:25.360 have to do and we have to keep the promise 0:10:25.400 --> 0:10:29.839 of being more performing and less emitting your two emissions. 0:10:30.400 --> 0:10:33.480 With all the three cars we are doing it, and 0:10:33.600 --> 0:10:36.400 the customer reception is very good. 0:10:36.960 --> 0:10:37.360 We have. 0:10:39.080 --> 0:10:44.920 Done what, in my opinion, was the right approach, not 0:10:45.400 --> 0:10:50.040 to courageous, but the right steps at the right time. 0:10:50.679 --> 0:10:52.960 The next step would be by the end of the 0:10:53.040 --> 0:10:55.880 decade we have an additional card, which would be then 0:10:55.960 --> 0:10:58.520 the first full electric car, and I think by that 0:10:58.679 --> 0:11:02.800 time it's okay we have three plug in hybrids so 0:11:02.920 --> 0:11:06.199 with strong combustion engines like the BE twelve and the 0:11:06.320 --> 0:11:11.640 V eights, and one additional car, which then is a 0:11:11.679 --> 0:11:15.199 good roundup of our product range. 0:11:15.640 --> 0:11:19.200 By the way, with the fully electric vehicle be one 0:11:19.280 --> 0:11:21.920 of the supercars or do you think you could put 0:11:21.920 --> 0:11:24.079 out a fully electric suv first? 0:11:24.760 --> 0:11:27.120 No, the idea is to have something which is neither 0:11:27.200 --> 0:11:30.520 nor no. We will not go into the supercars and 0:11:30.600 --> 0:11:32.960 not an suv. We are planning what is missing in 0:11:33.000 --> 0:11:36.160 our lineup, which is a gt A two plus two, 0:11:36.400 --> 0:11:42.320 which is the classic no car which every exclusive or 0:11:42.520 --> 0:11:47.040 luxury manufacturer head in his lineup, which we had in 0:11:47.080 --> 0:11:50.160 the sixties and seventies. And I think that this is 0:11:50.200 --> 0:11:52.840 a good head on for our car company. 0:11:52.880 --> 0:11:54.920 You have to see that in average. 0:11:54.640 --> 0:12:00.040 Our customers have around ten cars, so it's never the 0:12:00.080 --> 0:12:04.079 first card they are buying as a Lamborghini, so they 0:12:04.080 --> 0:12:08.080 have a multiple choice to drive the right car in 0:12:08.120 --> 0:12:12.800 the right moment during the week or the months. And 0:12:12.840 --> 0:12:16.400 therefore we think that we have this new body style 0:12:17.080 --> 0:12:19.600 as the first electric car is a perfect match for 0:12:19.679 --> 0:12:24.120 Lamborghini because we leave untouched the two supercars, they will 0:12:24.160 --> 0:12:27.440 be plug in hybrids and also the US. 0:12:28.280 --> 0:12:30.199 So I have to ask about China. 0:12:30.760 --> 0:12:33.760 I'm just so curious because for so many years that 0:12:33.920 --> 0:12:38.040 was the most promising market for almost every automaker, and 0:12:38.240 --> 0:12:42.200 it's been somewhat rough going in twenty twenty four for 0:12:42.320 --> 0:12:49.120 many others. How important is China for Lamborghini to succeed 0:12:49.280 --> 0:12:53.480 in and what are the prospects there what makes sense 0:12:53.720 --> 0:12:55.640 for Lamborghini in China. 0:12:56.600 --> 0:13:00.640 So for me to get let's say China into the 0:13:00.720 --> 0:13:03.880 right perspective, we have to see the China in terms 0:13:03.920 --> 0:13:08.800 of car market is the biggest by far, so it's 0:13:08.840 --> 0:13:13.520 more than twenty five percent of total sales globally is 0:13:13.720 --> 0:13:17.840 the China market. But if we come to the luxury market, 0:13:18.280 --> 0:13:23.160 it's less than ten percent, and for us it was 0:13:23.240 --> 0:13:25.800 always a bit less than ten percent, so we were 0:13:25.880 --> 0:13:30.720 never overexposed. And in China what happened in the last 0:13:30.800 --> 0:13:35.640 years that there was the real estate crisis, which is 0:13:35.720 --> 0:13:40.200 still ongoing. So let's say the luxury market was the 0:13:40.240 --> 0:13:42.800 one suffering the most and it's still suffering. 0:13:43.160 --> 0:13:45.920 So for us, not being. 0:13:45.800 --> 0:13:51.160 That exposed, we had a quite easy task to reallocate 0:13:51.480 --> 0:13:54.920 the cars to other markets. And this is what we 0:13:54.960 --> 0:13:58.600 are still going. And this was let's say, the first 0:13:58.600 --> 0:14:02.839 surprise has happened. But now it's three years in the 0:14:02.960 --> 0:14:07.000 road in the market this week, so already in the budget, 0:14:07.080 --> 0:14:09.480 when at the beginning of the year we have an 0:14:09.520 --> 0:14:12.560 idea on where the market and where the cars are going. 0:14:13.080 --> 0:14:14.679 If they're not going to China. 0:14:14.920 --> 0:14:19.040 Do you guys even need to be in China, particularly a. 0:14:18.960 --> 0:14:22.840 Big market also for automobile. At Borghini, we are not 0:14:23.040 --> 0:14:24.400 yet to win a sprint race. 0:14:24.560 --> 0:14:29.040 We are here to stay and we always have a 0:14:29.120 --> 0:14:33.080 load of strategy, and therefore China is and will stay 0:14:33.080 --> 0:14:34.080 important for us. 0:14:34.320 --> 0:14:37.840 You know, over a third of your cars are sold 0:14:37.840 --> 0:14:41.680 in the US, I believe last year, right, and almost 0:14:41.720 --> 0:14:43.840 four thousand cars sold in the US. 0:14:44.120 --> 0:14:46.360 And three thousand in the US. 0:14:46.640 --> 0:14:48.960 Wasn't it like three thousand, seven hundred am I thinking 0:14:49.000 --> 0:14:50.840 of North America, the entire. 0:14:52.360 --> 0:14:54.000 Reach and so including. 0:14:56.160 --> 0:15:00.520 And also then the rest of the. 0:15:02.360 --> 0:15:05.120 South American So he wrought three thousand to the exact 0:15:05.480 --> 0:15:08.800 number I think give you the exact number was. 0:15:08.840 --> 0:15:12.560 Three thousand, two hundred and eighty four in the US. 0:15:12.920 --> 0:15:15.880 Wow, all right, so about a third, let's say almost 0:15:15.880 --> 0:15:20.160 a third. But it was growth, It was growth, right. 0:15:20.240 --> 0:15:24.680 It was from three thousand to three thousand to one 0:15:24.760 --> 0:15:25.360 at eighty four. 0:15:25.920 --> 0:15:28.440 So the thing is from twenty. 0:15:28.120 --> 0:15:29.040 Three to twenty four. 0:15:29.240 --> 0:15:33.160 I was surprised to see today. Somewhere I saw a story, 0:15:33.240 --> 0:15:36.640 I guess you talked to other news organizations as well, 0:15:37.000 --> 0:15:41.000 and somewhere I saw a story that tariffs could actually 0:15:41.080 --> 0:15:44.200 hurt Lamborghini sales in the US. I figured, you know, 0:15:44.320 --> 0:15:50.000 these products are in a pricing range that makes it 0:15:50.040 --> 0:15:54.200 sort of negligible. But are you concerned that tariffs would 0:15:55.120 --> 0:15:57.080 slow growth in the US and would you then make 0:15:57.160 --> 0:15:59.560 up for it with more sales in Europe? 0:16:00.720 --> 0:16:06.040 What we said is that we're working on scenarios and 0:16:06.120 --> 0:16:12.080 that we are waiting for the final, let's say, result 0:16:12.560 --> 0:16:16.600 of what is going to be announced by the beginning 0:16:16.640 --> 0:16:20.200 of April, and then we will act accordingly. But it's 0:16:20.240 --> 0:16:23.520 a bit too earn it out to talk about the 0:16:23.640 --> 0:16:26.960 type of decision we are going to take because. 0:16:26.720 --> 0:16:29.040 We're still working on the different scenarios. 0:16:29.400 --> 0:16:32.760 I never said more than this in all the interviews 0:16:33.160 --> 0:16:35.200 I gave in the last weeks. 0:16:37.000 --> 0:16:42.320 It does seem like in this time every automaker is 0:16:42.480 --> 0:16:48.720 really focused on staying extremely flexible and being very able 0:16:48.800 --> 0:16:53.560 to pivot to respond to multiple factors in the market. 0:16:55.360 --> 0:16:58.440 How nimble is Lamborghini? You guys are actually kind of 0:16:58.440 --> 0:17:01.840 more of a conservative, Like you say, you take a 0:17:01.880 --> 0:17:06.320 long view. How flexible are you to pivot if you 0:17:06.359 --> 0:17:06.679 need to? 0:17:07.359 --> 0:17:07.520 So? 0:17:07.600 --> 0:17:10.359 One of the key elements is the length of the 0:17:10.400 --> 0:17:13.680 other bank. No, we have one and a half years 0:17:13.800 --> 0:17:16.560 waiting list. We are never running for the peaks. 0:17:17.400 --> 0:17:21.439 We look very carefully in the size of the market 0:17:21.600 --> 0:17:24.440 each and every year. We don't We. 0:17:24.520 --> 0:17:27.879 Never try to be over exposed in one market because 0:17:27.920 --> 0:17:30.120 maybe there is in the. 0:17:30.119 --> 0:17:31.280 Moment in time. 0:17:32.680 --> 0:17:36.360 Euphoria buying our types of course, so we are very 0:17:36.840 --> 0:17:40.520 let's say, humble and conservative, as you said in the approach. 0:17:41.359 --> 0:17:45.560 And then when I look back since COVID. 0:17:45.920 --> 0:17:50.480 We had a lot of challenges no geo political ones 0:17:51.440 --> 0:17:56.919 which affected the business regionally and also globally, but we 0:17:57.080 --> 0:18:04.040 always were able to counter balance this with other markets 0:18:04.680 --> 0:18:11.720 and also by seeing how we can with other suppliers, 0:18:12.440 --> 0:18:19.000 let's say, out run the lack of supply. So until 0:18:19.040 --> 0:18:21.919 now the things went into. 0:18:21.680 --> 0:18:23.639 The right way. But it's yeah that there is a 0:18:23.720 --> 0:18:24.680 limit to everything. 0:18:25.680 --> 0:18:30.560 I think that our approach on exclusivity and scarcity is what, 0:18:31.080 --> 0:18:36.720 also in the comparison with most of our competitors, was. 0:18:38.800 --> 0:18:41.600 Positively impact our business. 0:18:42.040 --> 0:18:45.399 How closely are you guys looking at not wanting to 0:18:45.440 --> 0:18:50.520 push just straight volume? I mean ten thousand, I feel 0:18:50.560 --> 0:18:53.600 like you've kind of hovered around ten thousand units for 0:18:53.680 --> 0:18:55.840 the past few years. Is that the ceiling for you 0:18:56.080 --> 0:18:58.320 or would you even go up higher? 0:19:00.160 --> 0:19:03.399 Opportunities for sure to grow a bit, But if we 0:19:03.480 --> 0:19:07.720 grow is because the market demand is rising. At the 0:19:07.840 --> 0:19:12.040 end of the day, they are more high net individuals 0:19:12.680 --> 0:19:17.560 then a decade ago. But for the first time last 0:19:17.640 --> 0:19:20.639 year the luxury market. 0:19:22.160 --> 0:19:22.840 Was decreasing. 0:19:23.119 --> 0:19:28.600 So after the let's say the big rise in the 0:19:28.720 --> 0:19:32.399 years after COVID, for the first time, we reached a 0:19:32.440 --> 0:19:33.720 plateau in twenty. 0:19:33.400 --> 0:19:37.280 Three and now I think we have an adjusted. 0:19:39.000 --> 0:19:43.240 Market which, in our opinion, if nothing big is going 0:19:43.280 --> 0:19:47.000 to happen, will be stable over the next couple of years. 0:19:47.600 --> 0:19:50.840 And we are against the trend because we are still growing. 0:19:50.960 --> 0:19:54.680 So we have to observe this day is a limited 0:19:54.800 --> 0:19:59.400 opportunity and if this is something which is not affecting, 0:19:59.480 --> 0:20:16.959 then they years after we will catch them. 0:20:09.480 --> 0:20:12.760 Talk to us about technology a little bit in the cars, 0:20:13.280 --> 0:20:18.120 and I ask, knowing that younger buyers seem to want 0:20:18.240 --> 0:20:24.280 more tech and they want their car to be very intelligent, seamless, 0:20:25.119 --> 0:20:29.399 you know, have AI capabilities. Are you seeing that with 0:20:29.520 --> 0:20:33.200 your customers as well, that tech is extremely important inside 0:20:33.240 --> 0:20:36.280 the vehicle or is it all still just about engine performance. 0:20:37.440 --> 0:20:38.639 No, it's very important. 0:20:39.000 --> 0:20:43.600 It's maybe less important than in the premium brands because 0:20:43.640 --> 0:20:46.080 they are daily usable card, they are cars where you, 0:20:47.359 --> 0:20:50.720 let's say, have also almost an office, or you have 0:20:51.400 --> 0:20:55.240 such a use which is so extended. 0:20:54.840 --> 0:20:59.760 Over each and every day that you want to have all. 0:20:59.640 --> 0:21:04.920 The comfort you have also at home or in your office. 0:21:05.560 --> 0:21:08.120 For us, it's a bit different because it's still about 0:21:08.720 --> 0:21:12.280 enjoying the drive, but more and more we have to 0:21:12.600 --> 0:21:18.760 include what for the premium brands is already let's say, 0:21:18.800 --> 0:21:19.600 a daily. 0:21:21.119 --> 0:21:22.520 Usability, a daily mask. 0:21:23.359 --> 0:21:26.439 We're doing it and it's well accepted, but we have 0:21:26.520 --> 0:21:28.400 to do also here the things at the right time. 0:21:28.440 --> 0:21:31.359 We don't have to overload the cars because we also 0:21:31.400 --> 0:21:33.879 have to see the weight, the cost and where we 0:21:33.920 --> 0:21:36.160 put the money at the end of the day when 0:21:36.359 --> 0:21:38.080 once we develop ours. 0:21:38.600 --> 0:21:41.080 By the way, I was asking, sure we have a 0:21:41.080 --> 0:21:45.000 good advantage in this sense because we are part of 0:21:45.040 --> 0:21:48.560 the Volks one group and here in terms of software development, 0:21:48.960 --> 0:21:51.920 for sure against other competitors. 0:21:51.160 --> 0:21:54.520 Which might have the same size that we have. For sure, 0:21:54.560 --> 0:21:59.960 we have a better access to this type of technology. 0:22:00.320 --> 0:22:05.160 I was asking benedetto Vina about this and he said, 0:22:05.200 --> 0:22:10.960 no way, Jose, but would you consider differentiating yourself by 0:22:11.040 --> 0:22:14.720 offering a car that's purely analog you know, I mean 0:22:14.720 --> 0:22:19.679 a car with virtually no screens that has actual gauges 0:22:20.080 --> 0:22:23.920 and you know, a stick shift, a handbrake. I'm sure 0:22:23.960 --> 0:22:27.960 that in the in the million, two, three, four million 0:22:28.000 --> 0:22:30.240 dollar stratosphere, you could sell a car like that. 0:22:31.480 --> 0:22:35.040 Well, you know, once when you decide to develop a car, 0:22:35.200 --> 0:22:38.240 you have a platform and you have to decide whether 0:22:38.280 --> 0:22:44.000 you're left or round. The platform never catches everything. So 0:22:44.920 --> 0:22:49.000 for us, we have to find the perfect balance for 0:22:49.119 --> 0:22:53.240 the majority of the customers. So technology is to the 0:22:53.359 --> 0:22:57.960 utmost performance and it's about the combustion engines. It's about 0:22:58.560 --> 0:23:01.720 the emotion which is giving you. But for sure a 0:23:01.880 --> 0:23:04.360 time being, we are not planning to have stick shifts. 0:23:04.400 --> 0:23:10.639 We are planning always to have what is possible in 0:23:10.720 --> 0:23:14.200 terms of analog and analog. 0:23:13.840 --> 0:23:16.640 Feeling, also the touch. We have all the levers which. 0:23:16.480 --> 0:23:19.479 Are analog for example, so we have a mix between 0:23:19.520 --> 0:23:21.879 screens and the click. 0:23:22.240 --> 0:23:24.760 And more and more. Also then we will have voice control. 0:23:24.880 --> 0:23:27.840 So this is a balance which is let's say, a 0:23:28.040 --> 0:23:31.000 moving target and more and more. We have to adapt 0:23:31.080 --> 0:23:35.320 ourselves and the development of the future to the future generations. 0:23:35.640 --> 0:23:39.520 But the analog feeling has to remain. And this is 0:23:39.520 --> 0:23:40.880 what we think. 0:23:40.960 --> 0:23:46.440 Also by looking back in the development of other manufacturers 0:23:46.440 --> 0:23:48.240