Lamborghini profit over $100,000 per car in latest financials

Italian supercar maker Lamborghini has released its best ever financial results, showcasing a record performance for the first half of the 2022 calendar year.

The Volkswagen Group manufacturer delivered 5090 vehicles from January to June 2022, an increase of 4.9 per cent over its previous best, while the latest records also show the business having a healthy turnover of €1.33 billion ($1.96 billion).

Revenues are good, but profit is what makes a car company healthy and sustainable. Lamborghini is now a poster brand not only in enthusiast’s bedrooms, but also the offices of Volkswagen’s accountants, with the brand delivering a €425 million ($625 million) operating profit.

That is up a staggering 69.6 per cent from its previous best record of €251 million ($370 million). The corresponding operating margin was 31.9 per cent after 24.6 per cent in the previous year period.

According to Lamborghini’s own statement, the step up in profitability in the first half of 2022 was a mixture of higher deliveries but also the models themselves, which have much better customisation (more margin). The drop in the value of the Euro has also helped with exports thanks to a net benefit of positive exchange rates.

Taking a basic look at the numbers, the $625 million in operating profit is after all costs (so far as Lamborghini states it), meaning that for every car Lamborghini sold it made $122,789 from an overall business perspective.

Based on industry standards and the low number of Lamborghini cars out there, we can have an educated guess in taking out profits related to parts, merchandise and other brand licensing fees of roughly 15 per cent, which leaves the brand’s per unit profitability at $104,370.

That is still potentially some distance away from its arch nemesis, Ferrari. In the 2021 calendar year, the Modena based manufacturer reported an average of USD $106,078 ($153,700) profit per unit sold. In a very distant second place was Tesla, earning $9709 per vehicle.

The average industry standard of earnings per vehicle sold across the industry was $1840 per car in 2019, $1294 in 2020, and a healthy $3001 last year.

Due to issues with supply and airbag compliance, Lamborghini Australia delivered only 44 cars in the first half of 2022 (81 same time last year). In contrast the United States took 1521, followed by China, Hong Kong and Macau (576), Germany (468), the United Kingdom (440), and the Middle East (282) in the first half of this year.

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