Luxury car brands recorded record revenue in the first half of this year 2022, a testament to their current good health.
If the automotive industry undergoes a complicated period due to shortages and delays in deliveries, the producers are currently managing to contain the matter. Generalist brands manage to pull off large profits in the first half of the yeardespite a continued decline in sales. There is one sector that stands out in particular for its very good economic health, that of luxury.
Ferrari and Lamborghini chain records
The two Italian brands are doing great, too record turnover and recorded profit over the first 6 months of the year. The Maranello company has sold more than 6,700 models in this first half. Figures that allow the Italian brand to upgrade its forecasts for the whole of 2022, in terms of sales, but also profits. Because the second quarter is excellent for the ladder horse brand with a net profit in the increase of 22% set at 238 million euros.
Same story on Lamborghini’s side. The Volkswagen Group’s brand sets a new sales record with 5,090 vehicles sold since the start of 2022. Lamborghini thus sees its revenue reach 1.33 billion euros with a operating margin of 425 million euros. That’s an increase of almost 70%!
“We have just finished an extraordinary first half, despite the ongoing uncertainty caused by the geopolitical situation. The outlook is also positive, with orders already covering all of 2023 production.stressed the General Manager of Lamborghini, Stephan Winkelmann.
If the two Italian manufacturers deliver impressive figures, the other luxury car brands also have very good figures. This is the case for example for Porsche and Bentley. Or for Rolls-Royce which has just delivered 3,190 vehicles since the beginning of the year.
Automobili Lamborghini has just finished its most profitable semester ever.
Out of 5,090 units, the Uru’s spectacular success accounted for 61% of sales, while the Huracán and Aventador accounted for the remaining 39%.
CO2 emissions and fuel consumption combined: https://t.co/MLO6PI23fq
—Lamborghini (@Lamborghini) 2 August 2022
Luxury SUVs drive the bulk of sales
This success of luxury brands is mainly due to high margins generated by selling high value models. The second explanation for this success can be summed up in 3 letters, SUV. All luxury brands now offer this variant in their catalogue, which convinces more and more customers. At Lamborghini, for example Urus represents more than 60% of sales. A success that can also be seen at Aston Martin with the DBX, at Bentley with the Bentayga and at Rolls-Royce with the Cullinan. Ferrari will also offer its own SUV for sale in the next few years, the PuroSangue.
If luxury SUVs are so popular, it is because they are often more accessible and more practical than classic sports cars. This makes it easier to attract new customers.
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On the way to even more news
This very prosperous period for luxury brands is not about to end. The brands are planning even more news for the next few years. Ferrari, for example, announced the arrival of 15 new models by 2026. The same for Lamborghini, which plans the arrival of new models next year. Especially since the next electric models will allow luxury brands to offer vehicles with even more overwhelming performance.
ONE reality that will take shape around 2025 for the majority of luxury car manufacturers. Enough to further ensure the good financial health of the luxury car sector.