Lamborghini sales stay hot with stock market soaring: CEO

Lamborghini appears to be firing on close to all 12 cylinders despite the global economic downturn.

With the stock market soaring again and an extremely loyal affluent customer base, perhaps that’s unsurprising.

“I think what we can say today is that the first signal that we have received from our customers in our market is that no orders have been canceled. So I think that’s an incredible sign in this moment where we’re living in a unique and unreal situation. Our customers are very loyal to the brand,” said Lamborghini’s Chairman and CEO Stefano Domenicali on Yahoo Finance’s The First Trade.

Lamborghini, which is headquartered in Northern Italy, restarted auto manufacturing on May 4 after being shutdown due to COVID-19.. Domenicali tells Yahoo Finance the company will be back to full manufacturing capacity next week.

While he expects new orders to build slowly given the still challenging conditions globally stemming from COVID-19, Domenicali is staying optimistic on Lamborghini’s path toward recovery.

Staff members chats with visitors near the Lamborghini Huracan models on being displayed at the China Auto China in Beijing, Thursday, April 26, 2018. Auto China 2018, the industry’s biggest sales event this year, is overshadowed by mounting trade tensions between Beijing and U.S. President Donald Trump, who has threatened to hike tariffs on Chinese goods including automobiles in a dispute over technology policy. (AP Photo/Andy Wong)

“I’m expecting that at the beginning we are going to have a lower pace because that’s normal when you have a tough situation where you are wearing masks. It’s not really the right environment. But, I’m pretty positive in thinking that as soon as this momentum fades away, we are going to have the number of orders we used to have,” Domenicali added.

Lamborghini is certainly doing its part to whet the appetite of prospective buyers.

The company unveiled a redesigned Huracan EVO in early May. The rear-wheel drive EVO will boast 610 horsepower from a 5.2 liter V10 engine. It will also feature Amazon Alexa integration, points out Yahoo Finance’s sister company Autoblog.

Base price: $229,428. Deliveries start this summer, notes Autoblog.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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