Lamborghini says it made record deliveries and profits in 2008 but noted that the economic uncertainty has not left it unscathed.
On Wednesday, the German-owned company posted a pretax profit of euro 60 million ($79.6 million) last year. That was up 27 percent from euro 47.1 million in 2007. Net profit figures have not been released.
The company did not provide a forecast for 2009, but says “the overall target for 2009 year is to attain an overall profit.”
Automobili Lamborghini SpA put 300 of its 1,000 workers on short-time work weeks from February through May and did not rule out extending the option.
Maybe the Big 3 can learn a little from the Germans. Ever since Volkswagen purchased Lamborghini, they’ve done well. Profit is the key, obviously, and American manufacturers have lost sight of what it takes to get there. By expanding like a huge hot air balloon, the Big 3 got too big too fast and made a series of moves that left them bloated and susceptible to a turn in the economy, which is exactly what happened.
Richard Lindell of Silicon Valley Auto Group in Los Gatos, Calif. has been seeing a surge in the Lamborghini brand ever since VW took control, he said.
“We’re seeing more interest in this car all the time,” Lindell explained. “Since the Germans took over, Lamborghini is taking advantage of the tools, systems and warranty offered by VW. They’re a stronger company now and they’re putting out a better product.”
The Italians and Germans must know something we don’t know in the United States, because they’re selling cars while ours sit in rows on dealership lots that are slowly bleeding money. Fiat is trying to help GM, if they’ll make the necessary cuts to make it happen, and now we learn that Lamborghini is turning a profit while even the Foreign 4 is hurting.
Hopefully the economy has hit its bottom, which I believe it has—but what do I know? Alan Greenspan can’t even tell you where we’re headed, and any attempt anyone makes at predicting the world’s economic future is guesswork at best. Either way, the Big 3 needs to wake up and take a long hard look at a car company that is making it against all odds—and the name is Lamborghini!