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yesterday

Lamborghini Warns Tariff Uncertainty Is Cooling U.S. Demand

A large order backlog cushions deliveries for now.

Stephan Winkelmann, chairman and chief executive officer of Lamborghini SpA, next to a Lamborghini Lanzador electric concept during The Quail, A Motorsports Gathering in Carmel, California, US, on Friday, Aug. 18, 2023.
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Overview

  • CEO Stephan Winkelmann says some wealthy U.S. customers are delaying or negotiating purchases as they wait for clarity on duties.
  • The company says it is paying a 27.5% U.S. tariff on cars, while a White House plan for a 15% rate has not been implemented for automobiles.
  • Lamborghini raised U.S. prices this summer by about 7% for the Temerario and Urus and 10% for the Revuelto.
  • Production will remain in Italy because the brand’s identity depends on “Made in Italy,” ruling out a U.S. shift to skirt tariffs.
  • Record 2024 results exceeded €3 billion in revenue with double-digit operating income growth, providing near-term insulation in its largest market.