Lambo H1 sales in China surge 32% to 29 cars

Shanghai, August 21 (Gasgoo.com) Automobili Lamborghini saw its China sales rise 32% from a year earlier to 29 units in the first half when its global unit sales, revenues and profits all plunged as the recession took a major bite out of luxurious cars, Nanfang Daily reported today.

From January to June, Lamborghini sold 29 cars in mainland China, up 32% from the 22 units sold in the same period of last year. China has become an important emerging market for the super-luxury Italian auto brand. It sold eight cars here in 2006 and that number jumped to 28 the following year, and to 72 in 2008.

The company said worldwide vehicle sales dropped 37% to 825 cars in the first half. The decline was steepest in the U.S., where unit sales dropped 52% to 207 units. European sales were mixed -- down in Germany and the U.K., relatively stable in Italy and France.

In the first six months, Lamborghini's global revenues dropped 43.4% to $221.9 million, while pretax profits plummeted 85 percent to $7.6 million. Some current models that Lamborghini Gallardo sells in China are priced above 2.98 million yuan ($436,300).

"We are not immune to the global recession. However, I am certain that Lamborghini's strong global presence and brand appeal ... will enable us to steer the company through challenging times to achieve new strengths," said Lamborghini CEO Stephan Winkelmann.

Lamborghini will set up its Asia-Pacific headquarters in China this September, a year after the car company opened the Lamborghini China office in Beijing.