Lamborghini CEO says consumers are holding off on buying high-end cars because of tariffs

Lamborghini CEO Stephan Winkelmann.LamborghiniLamborghini's CEO said some wealthy buyers are delaying buying high-end cars.Stephan Winkelmann said customers are waiting until they know the "final number" for tariffs.The cheapest Lamborghini for sale in the US costs $200,000. Cars from the EU face a 27.5% tariff.Lamborghini CEO Stephan Winkelmann has said consumers are delaying buying top-end cars because of tariffs.Cars and auto parts imported by the US from the EU face a tariff rate of 27.5%, but the Trump administration has agreed to lower this to 15% if the EU reduces its levies on US goods.Winkelmann told CNBC on Tuesday that the Italian sports car company's customers want "security" and "stability.""Some are waiting because they want to be sure that this is the final number that is going to be in place," Winkelmann said. "Others are fine with it, or we will have negotiations."In 2024, Lamborghini sold 3,712 cars in the US, about 35% of its overall sales, with prices ranging from $200,000 to over $600,000. The Audi Group, which includes Audi, Bentley, and Lamborghini cars, delivered 11.6% fewer cars to the US in the second quarter, year-on-year.Lamborghini is a "small brand, the high-end exclusive brand," which makes its cars in Italy but most sell globally because the segment it's in is "spread all over the globe," Winkelmann said.He said the company wouldn't build a factory in the US as "made in Italy" is in its "DNA."Winkelmann said the company would decide by year's end its plans for its Lanzador EV, which it announced in 2023 and said would launch in 2028. It has yet to reveal a price tag for the model.Asked if the car would still be available in 2028, Winkelmann said there had been a fall in demand for EVs, adding, "We think the trend is going to be delayed in general."Read the original article on Business Insider

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