Lamborghini CEO Says Luxury Remains "Very Strong"

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Winkelmann described the Opera Única based on Revuelto as “very special”, created in particular to celebrate Lamborghini’s milestone 60th anniversary. The hand-painted electric vehicle features a generation of V12 hybrid powertrain, as well as styling details that pay homage to Lamborghini’s 60th anniversary silhouette.

Yahoo Finance hosts Josh Lipton and Pras Subramanian explore Opera Unica’s role as the central model of the anniversary, discussing Lamborghini’s call for trends with Winkelmann as COVID markets.

In the world of sales, it’s all about being where consumers are. And for a luxury automaker like Lamborghini (VOW. DE), that means settling into Art Basel Miami, where the well-heeled flock to buy high-priced artwork. and, in all likelihood, high-end automobiles.

While celebrating its 60th anniversary, Lamborghini took advantage of this dazzling occasion to offer an exclusive edition of its Revuelto hybrid supercar in front of the wealthy Art Basel audience. The “Opera Unica” features a special painting task that lasted more than 400 hours. .

“So 2023 is very important for us, and the most important thing we did for 2023 was the launch of the Revuelto,” Lamborghini CEO Stephan Winkelmann said in an interview with Yahoo Finance from Miami. “And coming to Art Basel here in Miami, we were looking to have something special. “

Lamborghini is in the midst of a record year, at least for three-quarters of 2023. The U. S. still leads as the most sensible market, but globally, the logo is very strong.

Focusing on the luxury client and working with crowds in Miami, Winkelmann gives his take on the state of the high-end client and the luxury market.

“I have to say that things are still going very well. I think we’ve at least reached a standstill,” Winkelmann says of the luxury consumer. “We looked very carefully at the residual values of the car, the duration of the orders, the strength of the visitor base and I have to say that we are also quite confident about ourselves for the next few months. “

It also means costs, and that’s an area where Lamborghini has been making headlines, away from the glitz of Miami and back at the Sant’Agata, Italy, plant. Lamborghini and the Italian auto unions, FIOM and FIM-CISL, reached an agreement on Tuesday to introduce a shorter working week for their production workers, the unions announced.

“Work less and work better, this is the principle that guided this negotiation, and which is part of a comprehensive reasoning,” the FIOM and FIM-CISL said in a statement. This means Lamborghini factory workers will use a rotating two-shift schedule that will alternate a five-day week with a four-day week, and thereby cut 22 workdays each year.

While some in the press have talked about instituting a four-day workweek, Winkelmann said it was a misnomer.

“I don’t know why [they are saying it’s a four-day workweek] … because it’s not what we’re doing. We are maintaining the same productivity,” Winkelmann said. “It’s a very simple recipe: We are improving the efficiency, we are going to have longer shifts. So this means that they will work the same hours, but they will be spending [fewer days] in the factory.”

With strong business in recent times and next year, Winkelmann believes this hard-working arrangement is smart for both the company and the car staff, who will reap the benefits of more days off. It also means that the company will hire more than 500 new employees in the coming years. years,” and wages also increased.

And, in a nod to the company’s 60-year anniversary, Lamborghini is giving its workers a special bonus of 1,060 euros (around $1,145).

While that probably wouldn’t be enough to buy one of the company’s sports cars (or probably a new piece of art in Miami), the staff actually wouldn’t possibly say anything nice when the check arrives in the mail.

Pras Subramanian is a journalist for Yahoo Finance. You can see him on Twitter and Instagram.

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Lamborghini CEO Says Luxury Remains “Very Strong”

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