·LamborghiniLamborghini CEO warns tariffs have even forced its wealthiest consumers—who have an average of 5 cars in their garage—to waver on buying a new rideBy Marco Quiroz-GutierrezBy Marco Quiroz-GutierrezReporterMarco Quiroz-GutierrezReporterRole: ReporterMarco Quiroz-Gutierrez is a reporter for Fortune covering general news.SEE FULL BIO Stephan Winkelmann, chairman and chief executive officer of Lamborghini SpA, next to a Lamborghini Lanzador electric concept during The Quail, A Motorsports Gathering in Carmel, California, US, on Friday, Aug.
18, 2023.David Paul Morris—Bloomberg via Getty ImagesLamborghini CEO Stephan Winkelmann said some of its moneyed customers are holding back on new car purchases as tariffs remain unstable between the U.S.
and EU. The U.S.
is the company’s biggest market, and despite recent record results and an order backlog that vides some cushion against a sales slowdown, Winkelmann said tariffs have the potential to deal the company a blow.
President Donald Trump’s tariff instability is putting the economy on hold, and even Lamborghini’s deep-pocketed customers aren’t immune. CEO Stephan Winkelmann said some of its U.S.
customers, who have at least $400,000 to shell out for a base model, are waiting to see where the Trump administration’s tariff rate for the EU ultimately settles.
Its customers are waiting, even though the U.S. reached a deal to impose a 15% tariff on some EU ducts, including cars, in exchange for several pledges by the EU.
This includes buying more AI chips and military equipment from the U.S. “Some are waiting because they want to be sure that this is the final number that is going to be in place,” Winkelmann told CNBC.
“Others are fine with it, or we will have negotiations.” Winkelmann said while Lamborghini can resist the pressure of tariffs because of its large backlog of orders—cars dered today were ordered a year or two ago—the company will still face pressure from U.S.
tariffs on the EU. Lamborghini vehicles are made in Italy and this point is a differentiator for the brand. While the U.S.
is its largest market, the car company’s duction can’t be moved there, a strategy Trump has suggested for companies to avoid tariffs. “For us, free trade is the right apach,” Winkelmann said.
“We all know that one is what we want.
The other is the reality, and we have to deal with complexity since we are in and we are ready to face whatever comes.” Lamborghini, which is owned by Volkswagen’s Audi Group, reported a 16% year-over-year increase that saw it bring in more than 3 billion euros ($3.5 billion) in revenue for the first time for fiscal 2024.
Its operating income also rose by double digits to 835 million euros ($974 million). The company has also launched three new plug-in hybrid models since 2023.
Lamborghini did not immediately respond to Fortune‘s request for . viding another boost is Lamborghini’s increasingly diverse customer base.
Younger, wealthy customers from all over the world have pushed the average age of a Lambo owner below 45. In Asia, the average customer is 30.
The average buyer owns five cars, while buyers of its upscale, pricier model, the Revuelto, have 10, on average.
As for the Lamborghini customers’ behavior on tariffs and possible price increases, Winkelmann said to trust their judgement.
“They are maybe millionaires or billionaires for a reason, so they know what they’re doing and why they’re doing things,” he said.Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world.
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