Lamborghini sees decrease in profit

Industry news from Car Magazine reports that luxury Italian automaker Lamborghini revealed pre tax losses of over £30m in the 2009 financial year.

The decline has been attributed to a general slump in the supercar market, due to the worldwide recession. Such a recession has led some Lamborghini owners to woefully proclaim ''I need to sell my Lamborghini.''

Turnover for the sumptuous brand fell by 41 per cent in 2009, to £215m - a big difference from the excessive highs of the eighties and early noughties high consumption years - where production reached the dizzy heights of 2500 per annum. This year, the Italian manufacturer sold just 117 models, but is hopeful that the end of the recession will boost sales once more.

The brand is so positive, that it has increased research and development spending by over 30 per cent. Stephan Winkelmann, President and CEO of Lamborghini, commented on the year, saying: ''Even in a difficult year like 2009, we managed to maintain the rhythm in developing new products, increasing our core investment plans, confirming our commitment to a medium and long-term growth strategy.''

To contextualise the company's development, Lamborghini is set to bring out a new car every year - commencing with the LP570-4 Superleggra, which was showcased at the 2010 Geneva Motor Show.

Car Magazine reports that with the extravagant price of the brand's models, it shouldn't take too long to bolster the company's fortunes.

 

Stephen Armstrong, Ramsgate, Renault Clio

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