WEBVTT -  Lamborghini Chairman/CEO Stephan Winkelman Talks Expectations for Record Highs

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

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<v Speaker 2>News from Miami is the CEO of Lamborghini, Stephan Winkelman. Stephan,

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<v Speaker 2>thanks so much for your time today. Talk to me

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<v Speaker 2>first about you know, your results are another record now

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<v Speaker 2>in twenty twenty four and I imagine that just continues

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<v Speaker 2>through the end of the year. Are you going to

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<v Speaker 2>post the best year you ever.

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<v Speaker 3>Have so far?

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<v Speaker 1>It seems like it. It seems that we are going

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<v Speaker 1>to be again on a record. I as you said,

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<v Speaker 1>no in terms of deliveries, in terms of operating fit

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<v Speaker 1>and also for sure in terms of turnover. What we're

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<v Speaker 1>always looking into is not running for the pigs. We

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<v Speaker 1>are looking into the fact that we need to have

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<v Speaker 1>a solid order bank now which should last between one

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<v Speaker 1>and one and a half years. And this is paramount

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<v Speaker 1>for the success also for the twenty twenty five And

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<v Speaker 1>also on the other hand, we have good of very

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<v Speaker 1>high residual values, which is said now giving us the

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<v Speaker 1>peace of mind that the things are going into the

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<v Speaker 1>right direction. And the last, but not least, is the

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<v Speaker 1>fact that we have a balanced distribution over the major

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<v Speaker 1>regions in this world. And not to forget that now

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<v Speaker 1>we have the youngest lineup in terms of products we

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<v Speaker 1>have ever had in the history of Lamborghini and also

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<v Speaker 1>in my opinion, the best one. Yeah, you.

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<v Speaker 2>Are sold out, I think at least until the end

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<v Speaker 2>of twenty twenty six, so I can't buy a new Lamborghini.

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<v Speaker 2>That's part of the reason why prices in the aftermarket

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<v Speaker 2>are even higher than MSRP. Are you planning a fourth

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<v Speaker 2>model You've previously shown the Asteria concept PATV pays the

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<v Speaker 2>way for a front engine competitor to for RSGT vehicles.

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<v Speaker 1>Is that on the cards, but our idea is to

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<v Speaker 1>have the three cards we have today is plugging hybrids,

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<v Speaker 1>which is the first step of our strategy we call Portori,

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<v Speaker 1>so to have more performance by less your two emissions.

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<v Speaker 1>And by the end of this decade we are looking

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<v Speaker 1>into a force model which we showed already as a

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<v Speaker 1>concept car last year in Pebble Beach, the Lansador, And

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<v Speaker 1>this is something which is going to happen by the

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<v Speaker 1>end of this decade and would be the first full

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<v Speaker 1>electric car. And I think as an add on, this

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<v Speaker 1>could be a good step for us in terms of

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<v Speaker 1>closing the circle because the GT card, this is what

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<v Speaker 1>it is now an elevated GT car. So a two

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<v Speaker 1>door two plus two is what is missing today in

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<v Speaker 1>the lineup of Lamborghini.

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<v Speaker 3>Really curious about how you would categorize what's happening with

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<v Speaker 3>hybrids right now. If you think about the demand moving forward,

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<v Speaker 3>how much of it is coming from the US, How

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<v Speaker 3>excited are US consumers? Where is the hesitancy? To what

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<v Speaker 3>extent do you believe that this could be the model

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<v Speaker 3>of the future.

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<v Speaker 1>I think we are very well positioned with the plug

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<v Speaker 1>in hybrids. The important thing is that you have to

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<v Speaker 1>keep the promise being us a common affecture which is

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<v Speaker 1>not selling mobility but dreams. On one endside, the design

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<v Speaker 1>has always to be new. We have cutting a technology

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<v Speaker 1>and we have to keep the promise that this generation

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<v Speaker 1>is more performing than the generation before and at the

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<v Speaker 1>same time we are emitting less CO two emissions. If

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<v Speaker 1>this comes together and this is happening, then the customers

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<v Speaker 1>buy in and this is equally distributed into the region

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<v Speaker 1>of the world. And we are very carefully looking into it.

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<v Speaker 1>And the US is by far the biggest market we have.

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<v Speaker 1>And now I'm here in southern flo Florida, and the

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<v Speaker 1>Florida is the second largest in the US, so it's

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<v Speaker 1>important to be here as often as we can.

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<v Speaker 2>Being the biggest market that you have. I wonder how

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<v Speaker 2>you're preparing for looming tariffs. I realize that your product

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<v Speaker 2>is at a price level which makes buyers maybe slightly

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<v Speaker 2>less elastic. But are you importing, for example, more cars

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<v Speaker 2>now to get in under the wire? Did people make

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<v Speaker 2>more purchase decisions post election due to the certainty?

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<v Speaker 1>No? No, we are doing business as we know it.

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<v Speaker 1>We are for a free trade world and we are not,

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<v Speaker 1>let's say, doing speculations about the future. We do our

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<v Speaker 1>job and we are here to stay.

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<v Speaker 3>Speaking of challenges, I also want to talk about your

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<v Speaker 3>parent company, because of course Volkswagen is pushing four factory closures,

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<v Speaker 3>wage cuts, layoffs in Germany to profitability. How will the

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<v Speaker 3>cuts impact you and the synergies that you enjoy with Volkswagen.

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<v Speaker 1>You know, the Folks One Group is very good in

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<v Speaker 1>dealing with brands, so we have our responsibility in terms

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<v Speaker 1>of for sure the operating profit. We have our responsibility

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<v Speaker 1>of research and development, producing cays and also setting cars.

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<v Speaker 1>So there is no effect or no negative effect on

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<v Speaker 1>our plans for the future. In the Folks Long Group,

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<v Speaker 1>all right.

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<v Speaker 2>Stefan, we really appreciate your time. Very exciting to see

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<v Speaker 2>the products that you're putting out, and I'm hopeful that

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<v Speaker 2>we'll hear more about a two plus two model in

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<v Speaker 2>the future. Stefan Winkelman there, the CEO of Lamborghini.