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Lamborghini announces record sales, profits for 2008

by Drew Johnson

Despite a rather tough year for the auto industry as a whole, Lamborghini announced on Wednesday record sales and profits for 2008. Lamborghini hinted late last year that 2008 would be a "˜record' year for the company, with sales and profits topping record highs.

According to The Detroit News, Lamborghini's pre-tax profit totaled $79.6 million in 2008 - up 27 percent from 2007. Lamborghini failed to release its net profits for 2008.

"In the light of worldwide economic uncertainties, this new record year above all proves the sustainability of our business strategy," Lamborghini Chief Stephan Winkelmann said. "We know that there are tough times ahead now, but we have increased the value and appeal of our luxury brand and we are ready to take on the challenges the future might bring us."

Lamborghini sold a record-setting 2,430 cars in 2008, despite waning demand in some of its largest markets. Sales in the U.S. fell 20.3 percent to 741 vehicles, but strong sales in China and the Middle East helped buoy sales to record levels.

Lamborghini didn't specifically comment on its forecast for 2009, but said the company was focused on simply turning a profit.