To be fair, there isn’t a very long list of people who don’t want a Lamborghini. The iconic Italian raging bull brand is known for creating some of the fastest and most over-the-top supercars on the planet. However, they are reserved for those with a big budget to spend. However, even those that can afford one are in for a wait thanks to some surprising “issues.”
Lambo customers are in for a 12-month wait, according to the company’s CEO
Right now, it’s not surprising to anyone that there’s a wait associated with a new vehicle. The worldwide chip shortage and lack of production supply availability are putting all auto manufacturers behind schedule. However, according to CNBC, the delay for a new Lamborghini is not due to supply-chain issues. In fact, the company’s CEO said supply-chain issues haven’t affected Lamborghini production at all.
Instead, the wait comes from quite a good “problem” for Lamborghini to have. They are experiencing extremely high order volumes. The introduction of the Urus SUV sent Lamborghini to all-new heights in terms of orders and revenue. In 2021 alone, Lamborghini’s sales increased 19 percent relative to the previous year. Delivering 8,405 cars also set a new record and increased deliveries by 13 percent over 2020.
“What we see is that around the world there are more and more people able to buy a car like ours. After the pandemic, people wanted to reward themselves. And we have the markets which were flooded with money. I think we are in a very high plateau. I don’t know if this is the new normal,” said Stephan Winklemann, CEO of Lamborghini.
Given this thinking, Winkelmann theorizes that there is no end in sight to the rapid incoming orders of Lamborghinis.
Lamborghini is seeing an interesting shift in its customer base, too. The iconic brand is no longer exclusive to old money and folks with fat 401ks. Instead, newly-minted millionaires like crypto investors, stock traders, and influencers are behind the influx of orders. Winkelmann said that 70 percent of Lamborghini’s customers will be under the age of 40 by the year 2025.
The order backlog is driving prices for used Lamborghinis through the roof
As with many vehicles, dealerships are putting substantial markups on vehicles. It isn’t just dealers, though. Used Lamborghini prices are about 140 percent of their sticker price. This means that a 2021 Lamborghini Huracan STO with a base price of $327,838 would sell for about $450,000 in today’s market. Additionally, one buyer told CNBC they paid an extra $100,000 for a Lamborghini Urus to have it now instead of waiting.
Winkelmann says that Lamborghini disapproves of dealer markups, however.
“We don’t share this view of letting people pay over sticker,” he said. “When we talk to our partners, our dealers, we always are very clear about our position.”
At any rate, the value of a car is very heavily dictated by what folks are willing to pay for it. More power to you if you’ve got enough money to slap another $100,000 on top for a secondhand vehicle because you don’t want to wait.
Otherwise, you’ll have to wait for your Lamborghini with the rest of the world.