Automobili Lamborghini is racing ahead in India, with its supercars sold out until 2027 despite a global slowdown in the luxury automotive market. The remarkable surge in demand was confirmed by Lamborghini’s CEO, Stephan Winkelmann, in a recent interview with ET. He attributed this extraordinary growth to India’s dynamic young demographic, second only to China in youthfulness, and the rise of high-net-worth individuals eager to indulge in luxury assets.
The Rise of Young Billionaires
India is witnessing an unprecedented increase in ultra-rich individuals. Projections indicate a 50% growth in the next five years, with nearly 20,000 people expected to have a net worth exceeding $30 million. Many of these affluent individuals are young entrepreneurs who are reshaping the luxury market landscape by investing in high-end automobiles.
Luxury Cars in High Demand
Over the past three years, India’s luxury car market has more than doubled, reaching approximately 1,300 units sold in 2024 alone. Lamborghini has played a significant role in this boom, contributing over 100 units to the total sales. The Italian luxury carmaker offers three premier models in India:
- Huracan
- Urus
- Revuelto
These models, priced between Rs 4 crore and Rs 8.89 crore before taxes, attract a 100% customs duty due to being fully imported. Despite the hefty price tag, the demand continues to soar.
Exclusivity Drives Value
Winkelmann emphasized Lamborghini’s unique business model, which thrives on exclusivity. The brand deliberately maintains scarcity, selling fewer units than market demand to ensure that its cars retain their value over time. This strategy positions Lamborghini not just as a mobility solution but as an appreciating asset for buyers.
Record-Breaking Sales in India
In 2024, Lamborghini recorded its best performance yet in India, selling 113 units—a 10% increase compared to 2023. The company aims to sustain this growth trajectory in 2025, leveraging the growing affluence and aspirations of India’s youth.
Luxury Market Boom Reflected Elsewhere
The surge in demand for luxury vehicles isn’t exclusive to Lamborghini. Mercedes-Benz’s Maybach range also reported remarkable growth, selling about 500 units in 2024—a staggering 145% increase from the previous year.
As India’s pool of affluent young buyers continues to expand, luxury carmakers like Lamborghini are poised for sustained success. The Indian market, marked by a growing appetite for exclusivity and status, is not just accelerating; it’s roaring into the future.