Bentley and Lamborghini said their plans to develop ultra-luxury SUVs may be delayed to help parent company VW save money due to the European crisis.
UK Bentley and Italian Lamborghini presented at the auto shows in Geneva and Beijing earlier this year quite an extravagant concept SUV, and said that they wait foe VW’s approval to begin production. The two companies rely on this new SUV to boost sales, especially Lamborghini , which is loss-making since 2009, despite rumors that expanding to four-by-fours will ruin the brand’s exclusivity.
But as Volkswagen begins to feel the consequences of the European crisis, has begun to make production cuts, postpone new models and raise money amid tough times. On November 23rd, VW’s supervisory board will present the revised plan for this year.
“Such vehicles are anything but obligatory during a crisis,” said Frankfurt-based Equinet AG analyst Tim Schuldt. “Delaying their launch would be no drama but help save costs.”
This means that VW’s plans to overpass rival GM as the second biggest automaker in the world behind Toyota, will also be delayed. The German automaker reported sales of the Golf hatchback up only 4.3% to 492,500 vehicles last month and last week the company halted production of the Passat for two days, part of its plan to cut group output by about 300,000 cars.