Lamborghini Expects No Recovery Until 2011

Even if some automakers are already seeing the first signs of recovery, others are still fighting with the economic recession. Lamborghini, the luxury sports carmaker which reported positive results last year, confirmed a 30 percent drop in the first five months of this year and doesn't expect to see the first recovery signs until 2011. Chief Executive Stephan Winkelmann told Reuters that the Italian manufacturer could remain profitable even with a 40 percent drop but he also expects a new difficult year in 2010 too.

"We could stay profitable with sales that are dropping at 40 percent (in 2009). We are foreseeing a scenario that is staying on the same level next year and coming back in 2011," he said. "I'm prepared to face another tough year in 2010."

Specifically, Lamborghini delivered a total of 2,430 cars in 2008, each of them priced between 170,000 and 360,000 euros. The United States whatsoever brought a drop of 40 percent in the first five months, but the company expects China to overtake Italy and become its second largest market.

In order to cope with the economic recession, Lamborghini has turned to cost-cutting measures, with production lowered by 30 percent. Nevertheless, waiting times for new buyers are still going as high as 6 months, Winkelmann told the aforementioned source.

"We are in the middle of the line between suppliers and dealers and we also have to deal with the unions," he said. "I think the crisis is very deep."

Questioned how he would describe Lamborghini in the battle with its main competitor Ferrari, Winkelmann quickly reacted: "We are the bad boys," pointing to the high top speeds Lamborghini's models are capable to achieve.