Lamborghini achieved a historic first quarter, with an operating margin of more than 30%. The bull is doing much better than Ferrari, which was already recording exceptional margins.
Crises make and break fortunes, sometimes annihilating the already fragile smallest, but also enriching some. In the automotive sector, however, it seems that just about everyone has taken advantage of component shortages of late to inflate prices, increase margins and slash trade discounts dramatically. From Peugeot to Bentley, from Volkswagen to Lamborghini, everyone benefits. And Italy is particularly welcome for the crisis, which has boosted sales and financial results to the point that Lamborghini will reach simply exceptional levels in 2022. The bull brand is in the running to exceed 10,000 sales over one year, which would be historic.
Sales tripled in five years
In 2017, the year before the Urus hit the catalog, Lamborghini sold just over 3,800 cars worldwide. A nice score, already, for a catalog composed only of Aventador and Huracan. But the Urus changed everything. Just like the Cullinan changed everything for Rolls-Royce, or the Bentayga for Bentley, the SUV is so buoyant that Lamborghini is now reaching new heights. 5,090 Urus, Aventador and Huracan were sold in the first half worldwide, up 4.9% compared to last year. But it is above all the financial results that impress: 31.9% operating margin, compared to 24.9% last year over the same period ! Unsurprisingly, the Urus is the best seller (61% of the mix) ahead of the Huracan and Aventador which are not cut out. Impossible, therefore, to know their distribution even if we imagine that there is a majority of Huracans in there.
Ferrari has just posted its financial results for the first half of the year with 6706 deliveries, up 23% (!) compared to 2021. If the profits before interest and taxes have increased in gross value, the margin is slightly down at 25.4% but obviously remains exceptional in the automotive sector. Along with Lamborghini, it should be one of the few brands in the world to sell more than 10,000 cars and have a margin of more than 25%.. Ferrari’s net profits for the first half of the year were 2.47 billion euros, again up 19%.