Indians Among Youngest Lamborghini Buyers, Says CEO As Company Sees 'Revenge Buying' Post Covid
Indians are not only some of the biggest buyers of luxury products across categories, but they are also among the youngest in the world to buy sports cars, such as Lamborghini.?
Stephan Winkelmann, global CEO of Lamborghini, revealed that the majority of buyers in India, at under 40 years of age, are among the youngest when compared to those in developed economies.?
The youngest people to purchase luxury cars?
"Our customers in India, rather in Asia, are getting younger, and are under 40 years. In the US, large part of our buyers are between 40 and 45 years, while at above 45 years, Europeans are the oldest to purchase our cars," said Winkelmann.?
Further, Indians also have an "incredible" awareness of the brand.?
"The awareness of the brand is incredible here, which has improved over the past few decades in a way, which was unexpected before. So, when people approach our brand, they not only have awareness because of us or what they gather from the social media, but also from what they get from across the globe where knowledge about the brand is extremely high and growing," he added.?
Indians buy Lamborghini not just in India but across global residences?
The CEO of Lamborghini highlighted a distinctive trend where numerous Indians are not only purchasing cars within the country but also acquiring them for their residences in the UK, America, Dubai, and Southeast Asia. According to him, this is a unique behavior specific to Indians.?
When questioned about the level of demand for personalisation from Indian buyers compared to those in the West, especially considering the high cost (retailed upwards of Rs 4 crore), Winkelmann affirmed that Indian buyers are indeed as demanding.?
He explained that a significant aspect of luxury customers worldwide is their desire for extensive personalisation.?
Lamborghini has "more than 400 colours, and offer a lot of opportunities in terms of leather, stitching, piping to getting your car individualised in a way that there is not a similar one out there.," he elaborated.?
Revenge buying is a thing now?
Lamborghini is currently undergoing a period of exceptionally high demand, a phenomenon attributed to the trend of 'revenge buying' in the luxury sector following the impact of Covid.?
What is revenge buying? Well, this trend is driven by the philosophy of 'You Only Live Once' or YOLO. It refers to a sudden surge in the purchase of consumer goods after people are denied the opportunity for a long time.?
Winkelmann stated that the demand remains strong, with a global waiting period averaging between 18 to 24 months and both the Huracan and Urus models are completely sold out.
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