Lamborghini forecasts a possible slowdown in the industry sales of ultra-luxury sports cars as China's weakening economy causes people to be more conscious of their spending. Christian Mastro, Lamborghini's Asia Pacific general manager, remarked that with China’s current economy, there may be “some uncertainty to make people wait a little," adding that the number of people who wants to splurge on ultra-luxury items and cars are limited.
Mastro comments come as China’s economic growth is brought to almost a standstill in the fourth quarter of 2011, the slowest in more than two years.
The comments also come almost a month after China formally terminated it stimulus for foreign car investors. China’s trade ministry last week even described the country’s export outlook as "grim." The Lamborghini’s grim forecast carries a tone similar to Rolls-Royce’s predictions on demand for ultra-luxury cars in China. Rolls-Royce CEO Torsten Mueller-Oetvoes forecasted in January that China's growth will be less "explosive" this year.
Lamborghini posted a 70 percent growth in sales in China in 2011 to 342 units from 206 units in 2010, spiked by the rise in the number of millionaires in the country.
The company was posed to sell more if not for the fourth quarter slowdown. Due to the forecasted slowdown this year, Lamborghini will only hike its deliveries to China by 20% to 30%, which is less than half of the delivery growth in 2011. Lamborghini, however, still has an 18-month backlog on the production of its $1 million Aventador LP 700-4, and may not be able to meet the waiting list.