Robust demand across all models and a high order backlog is fueling shares of Lamborghini, with it reporting a 20% increase in revenue for the first nine months of 2024, hitting 2.43 billion euros ($2.60 billion). Comprising part of Volkswagen Group (VWAGY, Financial), the Italian luxury automobile manufacturer produced 8,411 vehicles in this period, up 8.6% from previous year, when it first topped 10,000 deliveries.
Lamborghini also reported a 9.8% increase in operational profit (EBIT), to 678 million euros. CEO Stephan Winkelmann attributed the outstanding performance to the introduction of three new models during the past 18 months, which led to a rise in demand in Lamborghini's lineup including well-liked models like the Urus SE hybrid SUV.
CFO Paolo Poma stated in a statement, "These third-quarter results further raise expectations of another record year and support our position as one of the most profitable brands in the luxury sector." Lamborghini's income and profit expansion highlight its dynamism among the increasing competition in the luxury car sector.
