1 00:00:02,600 --> 00:00:06,840 Speaker 1: Bloomberg Audio Studios, podcasts, radio. 2 00:00:06,640 --> 00:00:11,200 Speaker 2: News from Miami is the CEO of Lamborghini, Stephan Winkelman. Stephan, 3 00:00:11,200 --> 00:00:14,680 Speaker 2: thanks so much for your time today. Talk to me 4 00:00:14,720 --> 00:00:18,080 Speaker 2: first about you know, your results are another record now 5 00:00:18,200 --> 00:00:21,160 Speaker 2: in twenty twenty four and I imagine that just continues 6 00:00:21,200 --> 00:00:24,040 Speaker 2: through the end of the year. Are you going to 7 00:00:24,120 --> 00:00:25,920 Speaker 2: post the best year you ever. 8 00:00:25,720 --> 00:00:27,200 Speaker 3: Have so far? 9 00:00:27,440 --> 00:00:30,639 Speaker 1: It seems like it. It seems that we are going 10 00:00:30,720 --> 00:00:34,000 Speaker 1: to be again on a record. I as you said, 11 00:00:34,080 --> 00:00:37,680 Speaker 1: no in terms of deliveries, in terms of operating fit 12 00:00:37,760 --> 00:00:40,560 Speaker 1: and also for sure in terms of turnover. What we're 13 00:00:40,600 --> 00:00:43,600 Speaker 1: always looking into is not running for the pigs. We 14 00:00:43,640 --> 00:00:46,080 Speaker 1: are looking into the fact that we need to have 15 00:00:46,520 --> 00:00:50,280 Speaker 1: a solid order bank now which should last between one 16 00:00:50,320 --> 00:00:52,520 Speaker 1: and one and a half years. And this is paramount 17 00:00:52,560 --> 00:00:55,920 Speaker 1: for the success also for the twenty twenty five And 18 00:00:56,040 --> 00:01:00,560 Speaker 1: also on the other hand, we have good of very 19 00:01:00,640 --> 00:01:05,000 Speaker 1: high residual values, which is said now giving us the 20 00:01:05,080 --> 00:01:07,399 Speaker 1: peace of mind that the things are going into the 21 00:01:07,480 --> 00:01:10,920 Speaker 1: right direction. And the last, but not least, is the 22 00:01:11,040 --> 00:01:17,120 Speaker 1: fact that we have a balanced distribution over the major 23 00:01:17,200 --> 00:01:22,320 Speaker 1: regions in this world. And not to forget that now 24 00:01:22,360 --> 00:01:26,959 Speaker 1: we have the youngest lineup in terms of products we 25 00:01:27,000 --> 00:01:29,199 Speaker 1: have ever had in the history of Lamborghini and also 26 00:01:29,240 --> 00:01:31,640 Speaker 1: in my opinion, the best one. Yeah, you. 27 00:01:33,440 --> 00:01:35,679 Speaker 2: Are sold out, I think at least until the end 28 00:01:35,720 --> 00:01:38,680 Speaker 2: of twenty twenty six, so I can't buy a new Lamborghini. 29 00:01:38,880 --> 00:01:41,440 Speaker 2: That's part of the reason why prices in the aftermarket 30 00:01:41,440 --> 00:01:45,480 Speaker 2: are even higher than MSRP. Are you planning a fourth 31 00:01:45,560 --> 00:01:50,280 Speaker 2: model You've previously shown the Asteria concept PATV pays the 32 00:01:50,320 --> 00:01:54,080 Speaker 2: way for a front engine competitor to for RSGT vehicles. 33 00:01:54,440 --> 00:01:57,160 Speaker 1: Is that on the cards, but our idea is to 34 00:01:57,280 --> 00:02:00,520 Speaker 1: have the three cards we have today is plugging hybrids, 35 00:02:00,680 --> 00:02:05,919 Speaker 1: which is the first step of our strategy we call Portori, 36 00:02:06,080 --> 00:02:10,280 Speaker 1: so to have more performance by less your two emissions. 37 00:02:10,480 --> 00:02:12,840 Speaker 1: And by the end of this decade we are looking 38 00:02:12,919 --> 00:02:17,480 Speaker 1: into a force model which we showed already as a 39 00:02:17,560 --> 00:02:21,960 Speaker 1: concept car last year in Pebble Beach, the Lansador, And 40 00:02:22,000 --> 00:02:24,000 Speaker 1: this is something which is going to happen by the 41 00:02:24,080 --> 00:02:25,959 Speaker 1: end of this decade and would be the first full 42 00:02:26,000 --> 00:02:29,680 Speaker 1: electric car. And I think as an add on, this 43 00:02:29,840 --> 00:02:32,560 Speaker 1: could be a good step for us in terms of 44 00:02:33,560 --> 00:02:36,080 Speaker 1: closing the circle because the GT card, this is what 45 00:02:36,120 --> 00:02:38,799 Speaker 1: it is now an elevated GT car. So a two 46 00:02:38,800 --> 00:02:42,320 Speaker 1: door two plus two is what is missing today in 47 00:02:42,360 --> 00:02:44,799 Speaker 1: the lineup of Lamborghini. 48 00:02:45,480 --> 00:02:49,799 Speaker 3: Really curious about how you would categorize what's happening with 49 00:02:49,880 --> 00:02:52,679 Speaker 3: hybrids right now. If you think about the demand moving forward, 50 00:02:52,840 --> 00:02:55,359 Speaker 3: how much of it is coming from the US, How 51 00:02:55,400 --> 00:02:59,280 Speaker 3: excited are US consumers? Where is the hesitancy? To what 52 00:02:59,400 --> 00:03:01,400 Speaker 3: extent do you believe that this could be the model 53 00:03:01,440 --> 00:03:02,119 Speaker 3: of the future. 54 00:03:02,720 --> 00:03:07,160 Speaker 1: I think we are very well positioned with the plug 55 00:03:07,200 --> 00:03:11,160 Speaker 1: in hybrids. The important thing is that you have to 56 00:03:11,240 --> 00:03:16,320 Speaker 1: keep the promise being us a common affecture which is 57 00:03:16,360 --> 00:03:20,919 Speaker 1: not selling mobility but dreams. On one endside, the design 58 00:03:21,000 --> 00:03:25,440 Speaker 1: has always to be new. We have cutting a technology 59 00:03:25,639 --> 00:03:30,200 Speaker 1: and we have to keep the promise that this generation 60 00:03:30,840 --> 00:03:35,120 Speaker 1: is more performing than the generation before and at the 61 00:03:35,160 --> 00:03:40,280 Speaker 1: same time we are emitting less CO two emissions. If 62 00:03:40,280 --> 00:03:44,280 Speaker 1: this comes together and this is happening, then the customers 63 00:03:44,280 --> 00:03:48,200 Speaker 1: buy in and this is equally distributed into the region 64 00:03:48,320 --> 00:03:51,960 Speaker 1: of the world. And we are very carefully looking into it. 65 00:03:52,080 --> 00:03:57,040 Speaker 1: And the US is by far the biggest market we have. 66 00:03:57,200 --> 00:04:00,880 Speaker 1: And now I'm here in southern flo Florida, and the 67 00:04:00,920 --> 00:04:04,680 Speaker 1: Florida is the second largest in the US, so it's 68 00:04:04,800 --> 00:04:07,840 Speaker 1: important to be here as often as we can. 69 00:04:07,920 --> 00:04:10,480 Speaker 2: Being the biggest market that you have. I wonder how 70 00:04:10,480 --> 00:04:15,720 Speaker 2: you're preparing for looming tariffs. I realize that your product 71 00:04:15,880 --> 00:04:19,440 Speaker 2: is at a price level which makes buyers maybe slightly 72 00:04:20,680 --> 00:04:25,200 Speaker 2: less elastic. But are you importing, for example, more cars 73 00:04:25,279 --> 00:04:28,320 Speaker 2: now to get in under the wire? Did people make 74 00:04:28,360 --> 00:04:32,240 Speaker 2: more purchase decisions post election due to the certainty? 75 00:04:33,160 --> 00:04:37,760 Speaker 1: No? No, we are doing business as we know it. 76 00:04:38,800 --> 00:04:42,279 Speaker 1: We are for a free trade world and we are not, 77 00:04:43,839 --> 00:04:47,719 Speaker 1: let's say, doing speculations about the future. We do our 78 00:04:47,880 --> 00:04:50,359 Speaker 1: job and we are here to stay. 79 00:04:51,120 --> 00:04:53,120 Speaker 3: Speaking of challenges, I also want to talk about your 80 00:04:53,120 --> 00:04:56,800 Speaker 3: parent company, because of course Volkswagen is pushing four factory closures, 81 00:04:56,839 --> 00:05:02,080 Speaker 3: wage cuts, layoffs in Germany to profitability. How will the 82 00:05:02,120 --> 00:05:06,720 Speaker 3: cuts impact you and the synergies that you enjoy with Volkswagen. 83 00:05:07,480 --> 00:05:09,719 Speaker 1: You know, the Folks One Group is very good in 84 00:05:10,120 --> 00:05:15,480 Speaker 1: dealing with brands, so we have our responsibility in terms 85 00:05:15,680 --> 00:05:21,160 Speaker 1: of for sure the operating profit. We have our responsibility 86 00:05:21,760 --> 00:05:26,240 Speaker 1: of research and development, producing cays and also setting cars. 87 00:05:26,320 --> 00:05:30,120 Speaker 1: So there is no effect or no negative effect on 88 00:05:30,279 --> 00:05:33,360 Speaker 1: our plans for the future. In the Folks Long Group, 89 00:05:34,040 --> 00:05:34,560 Speaker 1: all right. 90 00:05:34,440 --> 00:05:38,080 Speaker 2: Stefan, we really appreciate your time. Very exciting to see 91 00:05:38,480 --> 00:05:41,200 Speaker 2: the products that you're putting out, and I'm hopeful that 92 00:05:41,279 --> 00:05:43,600 Speaker 2: we'll hear more about a two plus two model in 93 00:05:43,640 --> 00:05:47,560 Speaker 2: the future. Stefan Winkelman there, the CEO of Lamborghini.