Arab Today, arab today lamborghini boss no recovery in luxury car market until 2014
Last Updated : GMT 19:53:43
Arab Today, arab today
Arab Today, arab today

Lamborghini boss: No recovery in luxury car market until 2014

Arab Today, arab today

Arab Today, arab today Lamborghini boss: No recovery in luxury car market until 2014

London - Arabstoday

The global luxury car market is unlikely to return to the peak sales it witnessed in 2007 for at least another two years, despite strong growth in the Middle East, the president of Italian car maker Lamborghini said in an interview. According to Lamborghini’s research, 35,000 luxury sports cars were sold during the peak year of 2007. By 2011, the global economic downturn had seen sales fall to around 20,000. While it has rebounded to 26,000, Stephan Winkelmann, president and CEO of the performance car maker, does not foresee a recovery anytime soon. “It is up but still far away from where it used to be in 2007. From 35,000 against 26,000 is a huge difference and we have more competitors in the market,” he said on an interview while on a visit to Doha, Qatar. “Without the euro crisis, I would have said by 2013 we would have been back at the level of 2007. Now, I don’t see if before 2014… It depends on how alarming the eurozone is affected,” he added. However, the Middle East is one of Lamborghini’s strongest markets and at the end of 2011 ranked sixth, in terms of size, after the US, China, the UK, Germany and Italy. “In comparison to the rest of the world, there is a higher penetration rate than average, so when you have a new product like a V12 you have an exploding market and this is the reason why the Middle East had growth from 2010 to 2011 of more than 80 percent.” Looking towards 2012 he is expecting equally frantic growth: “We will grow at least another 50 percent this year. We could do much more… We have already increased our production rate twice since starting production in summer last year, so this is a good sign for us. “For sure we want to sell more than last year as we have the full Aventador, which was in the ramp up phase last year. The Galliano is also doing very well, because in 2011 it sold more. The crisis shows we had a good year, but we are not disclosing numbers as we are very conservative.”

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lamborghini boss no recovery in luxury car market until 2014 Arab Today, arab today lamborghini boss no recovery in luxury car market until 2014

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:19 2017 Sunday ,19 February

Syrian Khallouf Trading Company launches two new cars

GMT 10:37 2017 Thursday ,16 February

Motorsport fans encouraged to buy GP tickets

GMT 13:21 2017 Wednesday ,15 February

200 Teslas to join Dubai Taxi fleet

GMT 21:20 2017 Tuesday ,14 February

Tesla brings electric cars to supercar-loving UAE

GMT 05:55 2017 Monday ,13 February

Careem scheme aims to help refugees

GMT 05:51 2017 Monday ,13 February

Al Fahim Group unit revelas strong growth
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday