60 per cent Lamborghini owners paying EMIs; hardly any CEOs on buyers' list

If you believe that luxury cars are owned by the super-rich because they can afford them, you are probably wrong. The Indian arm of super sports car manufacturer Lamborghini has said around 60 to 65 per cent of their cars are sold on car finance in the country. Lamborghini India head Sharad Agarwal recently revealed that most of company's cars have been sold on EMIs and the buyers' list hardly has any corporate professional, such as a CEO.

"Our buyers are wealth creators, not wealth inheritors. They understand the value of money. Though they have money they would calculate everything before shelling out Rs 5 crore on a car. He would think about investing that much money into his own business and buy the car on loan," Sharad Agarwal was quoted as saying by PTI.

"Let me tell you that we do sell cars on EMI. More than 60 to 65 per cent of our cars are sold on finance. Majority of our buyers are industrialists or businessmen. Unlike in the US, very rarely we witness a corporate professional, like a CEO, buying a Lamborghini in India," he added.

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The statements came on the sidelines of the launch of 'Huracan EVO RWD', a super sports car. Price of the car starts from Rs 3.22 crore, ex-showroom, pan-India.

He also admitted to the slowdown in the luxury segment as well. In 2019, just 265 such cars of different brands were sold in India. While Lamborghini India sold 45 units in 2018, the number was 52 in 2019 calendar year.

"While the market sentiments were negative last year, our growth was around 15 per cent last year. We are looking to maintain the growth momentum in this year too" said Agarwal, adding that people from non-metro cities are also queuing up to buy Lamborghini cars these days.