Lamborghini CEO expects stagnating demand for ultra-luxury cars in 2013 image

Lamborghini CEO Stephan Winkelmann said global demand for ultra-luxury sports cars will probably not increase next year.

The main reasons for this are the European debt crisis and the slowing of China’s economy. “We are very cautious for next year. The Europe crisis is not over,” Winkelmann said in a Bloomberg Television interview in Singapore. Lamborghini is expanding in markets including Singapore and Hong Kong to offset slower sales in Europe and China.

The Modena-based supercar maker opened a second dealership in April in India, where the number of millionaires is expected to more than double by 2015. Fortunately for Lamborghini, demand in Hong Kong, Singapore and Southeast Asia continues to grow, according to Winkelmann.

But when it comes to China, Lamborghini’s second-largest market after the U.S., sales are „a bit below last year,” the CEO said. He added that demand in the U.S. is recovering and that globally there’s a waiting list of as long as 18 months for the Aventador.

Winkelmann said Lamborghini hasn’t yet made the decision to build an SUV, although the carmaker unveiled the Urus concept car at the Beijing auto show this year. “This is a broader decision of the group, we hope it’s going to come soon. To engage in such a project, it’s adding a third model, and for us, this will be a huge step and huge investment,” Winkelmann said.