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Lamborghini struggles to cap its own production to maintain brand exclusivity

Lamborghinis, Ferraris, Bentleys, and so on demand high prices, and that's not just because you’re buying incredible performance, technology and luxury. YouÂ’re also buying exclusivity. Recently, however, Wall Street and shareholders have been pressuring supercar makers to produce more cars and yield more profits. The problem is that higher production volume compromises exclusivity and dilutes the brand. So while LamborghiniÂ’s shareholders want the company to produce more cars, executives are seeking to impose limits and cap production. "We must not go on growing forever. We now have to consolidate these results and preserve exclusivity," Lamborghini CEO Stefano Domenicali told reporters at an event inaugurating the companyÂ’s newest paint and body shop at the SantÂ’Agata Bolognese plant in Italy. The execs are having limited success, however, as the company announced that it plans to sell more than 8,000 cars this year, which is “the right dimension of our company with our current product portfolio,” Domenicali said. A run of 8,000 cars would be an increase of 39 percent from 2018's total of 5,750 new Lambos. It has been a strong decade for Lamborghini; a mere 1,302 vehicles were sold back in 2010. However, that goal of 8,000 could swell to around 10,000 cars, depending on whether the company adds another model to its small lineup. Such a case would have to be deliberated among shareholders. Lamborghini saw considerable growth in the first quarter of this year, likely attributed to the launch of its Urus SUV. So far, analysts are forecasting an increase in revenue to around 1.7 billion euros, or $1.92 billion USD, up from 1.42 billion euros or $1.6 billion USD in 2018, said Chief Financial Officer Paolo Poma. At the same event, Lamborghini confirmed that an electric supercar is not in its future at this time as “customers are currently not interested,” Poma said. However, Lamborghini is indeed seeking to add hybrid vehicles to its lineup by 2025, as itÂ’s pressured to lower CO2 emissions and meet future mandates. The Urus is expected to be one of the cars receiving a hybrid powertrain, as it is not planned to get a V10 or V12 engine.

Florida Man accused of buying Lamborghini with coronavirus relief funds

We'll preface this by saying that when things work as they're meant to, we don't hear about them. When it comes to the Paycheck Protection Program, created as part of the CARES Act in March to provide loans to businesses to pay employees during the coronavirus lockdown, that means many jobs were saved but we also get stories of honest businesspeople unable to get loans or blackguards abusing the program. This story is the latter. David T. Hines, a 29-year-old Miami man with four businesses, applied for PPP funds in May. He received about $3.9 million in loans, and blew about $500,000 of that before the government began investigating and his bank froze his accounts. Instead of applying for loans to cover monthly expenditures of about $200,000 among his four moving-related companies, the feds say, Hines' four applications through Bank of America claimed combined monthly expenses of $4 million to pay 70 employees. BofA approved three of the four submissions. After the government made its first of three planned deposits of $3,984,557 into Hines' Bank of America account, Hines continued requesting more money, authorities say, ultimately seeking $13.54 million.  The spending began almost immediately after the PPP disbursement. As far as the government could tell by going through Hines' records, none of the money was spent on employees who "either did not exist or earned a fraction of what Hines claimed in his PPP applications.” Instead, officials say, Hines picked up a blue Lamborghini Huracan Evo for $318,497. He paid a person he listed as "Mom" $60,000. Saks Fifth Avenue got another $4,000. In June, $8,500 went to the Graff jewelry boutique, and $7,000 went to Miami's Setai hotel. The disbursement problem has arisen because the Small Business Administration that backs the PPP loans doesn't verify the claims in the applications, according to Assistant U.S. Attorney Michael Berger. How did Hines get caught, then? He got into a hit-and-run accident in his blue Lamborghini in July, and Miami police impounded the car. That eventually attracted investigation from no less than six governmental departments: the FDIC-OIG, USPIS, IRS-CI, the SBA-OIG, the Board of Governors of the Federal Reserve System, and the Bureau of Consumer Financial Protection-OIG. The U.S.

Anything but subtle | 2017 Lamborghini Aventador S First Drive

It's just past dawn and I'm running on a thin supply of caffeine and adrenaline, but the 2017 Lamborghini Aventador S I'm chasing around Circuit Ricardo Tormo just made me crack a grin: faint blue flames are simmering deep within the leader's three exhaust pipes, pulsing almost imperceptibly as it whips around the track. Few things about the Lamborghini Aventador LP700-4 (including its alphanumeric name) were subtle, but the boys in Sant'Agata Bolognese have gone full-bore at refining the famously unwieldy flagship enough to make it drive as capably as it looks. This updated version has been rechristened with an S at the end of its name, and yes, in the twisted microcosm of earthbound fighter jets, flames coming out of hindquarters qualify as subtle. Of course the Aventador S produces more power – to the tune of 729 horsepower, a 38-hp climb from before, with torque only increasing by one, to 509 pound-feet – and the extra grunt affects neither its 0-to-62-mph time of 2.9 seconds nor its terminal velocity of 217 mph. But version 2.0's most notable improvements apply to the big Lamborghini's chassis, which now uses a four-wheel-steering system to countersteer the rear wheels below around 75 mph, and turn them in phase with the fronts for stability at higher speeds. The system responds in 5 milliseconds, and has the virtual effect of shortening the wheelbase by up to 20 inches or lengthening it by 27 inches. In case you're keeping tabs, the extra 13 pounds of the steering hardware are offset by a new titanium exhaust system, essentially rendering the curb weight unchanged. If you've ever tried to toss a boomerang through a maze, you've got a basic idea of what it took to carry an original Aventador through a high-speed corner. The act required some patience to allow the front wheels to dig in and take hold, and even more resolve to wait for the perfect moment to squeeze the right pedal and power out of the apex. Accelerate too early, and you'd suffer terminal understeer until you allowed the weight to shift, likely triggering traction control as you goosed the throttle on the way out. At the Spanish track, the new Aventador manages something the first one couldn't: though it still retains some understeer, it also dances and turns more willingly, snaking its way through each corner with a gratifying combination of weight transfer and grip. Oh happy, fire-breathing day.