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I recently spoke with Lamborghini's Chief Marketing and Sales officer, Federico Foschini, about Lamborghini's rapid growth and success over the past few years, as well as its move into electrification with models like the Revuelto and Temerario. We discuss the company's success and how the electrification move is being received by both traditional and new Lamborghini customers. A transcript of the interview follows below, along with a full video of the interview linked below (starts at 52 seconds).
Karl Brauer: Lamborghini has introduced a lot of new models and seen a lot of success in recent years. I'd like to hear what you think is driving the growth of Lamborghini?
Federico Foschini: You had just mentioned one important point for us is the introduction of new models, and being always at the edge of the market with technological innovation and performance and driving emotion at the top of the segment. I think that this is what the people, the customers, and the fans are expecting from us. And is where we are working hard in order to surprise and satisfy the expectation of our customer.
Brauer: What has been the customer reaction from Lamborghini's buyer base to the electrification of the brand? How have they been reacting to that?
Foschini: I think they react pretty good because at the end of the day, our interpretation of the electrification is about improving driving emotion and performance. So we started with the Revuelto with the launch in 2023, and this car is the halo model of Lamborghini, with a V12, 1,015 horsepower -- we call it HPEV, High Performance Electrified Vehicle. That is not just an acronym different from PHEV, but is the way that explains how we want to use the combination between internal combustion engine and electric power.
So for us, it is more an integration of two worlds that give a better product compared to an internal-combustion-engine-only car. On one side we have the emotion of the engine sound and of the responsiveness of the engine that is coming from the internal combustion engine. On the other side, we have the opportunity to use electric motors on the front axle for the four-wheel drive traction, but also one rear engine that is improving, let's say, the torque development of the car from low revs until high revs. But also giving additional opportunity for driving for our customer because you can come from a very comfortable and smooth car to a very aggressive and very easy to drive high performing car.
So at the end of the day for us, for sure, the electrification is also something aimed at reducing the emission and CO2 because we need to comply with the legislation of all 56 markets where we are selling our product. But on the other side, it's even more important for us to improve and to enhance what are the main reasons to buy a Lamborghini. Besides the design, it is performance and driving emotion. And this is the true innovation that we are introducing now with our super sport car. On Revuelto and Temerario we have a similar concept, but also on Urus SE we have a hybrid car that is able to display now 800 horsepower. And also we have improved the performance and driving fun compared to the predecessor.
Brauer: It does feel like you are expanding the range of what the cars can do. That they're not losing any of their performance edge, but they're getting more comfortable and refined as well. And you've got these driver modes that you can now really change the personality of the single car. And I think certainly electrification is expanding that ability.
Foschini: Yes. I think that what we can do now is to have all the three models drive fully electric, so silent and without emission. And this is something that is a use case that we can offer. Is not the primary use case, but maybe you want to do when you are approaching home in the night, when you are leaving from somewhere early in the morning. But immediately by changing the driving mode, you can have the roar of the V12 or V8 engine depending on the model. On the other side, you can have a car that is very, let’s say, agile but very precise in the driving because this is also the combination of the electric motor and the active torque vectoring that you have in the front axle when it comes to Temerario and Revuelto. And this is giving you the impression to drive on a rail while you have a car that is very, very, let’s say, powerful. So you can discharge all the power but in a very easy and precise way.
Brauer: How has marketing changed? How has trying to get the message out about Lamborghini, especially as it's evolving or going into electrification? Have you found different approaches to marketing and getting your message across?
Foschini: I think that the target is exactly to communicate what is the reality. So, I think that if you have a product that is at the level of the one we have, we need to try as much as possible to communicate and to be able to demonstrate and to increase the awareness of this kind of product. So we don’t have to invent; we have to enhance. And this means that we need to put customer, fan, and media in the position to understand in the best way possible what the car is capable of doing.
For sure, one of the easiest things is to have people -- media but also our dealers and also our customers -- driving the car. And also new people that want to approach Lamborghini, they should test the car. This is the easiest thing that we can do. But we can also use, let's say, all the tools that are available today on digital and on event sides to enhance this kind of understanding of the car. Having a lot of opportunity... because as I told you, if the base is the product and the product is solid as well as the brand, I think that our job is easier in this moment.
And what is important to communicate is that all that we are doing is strictly connected with our brand DNA. So our brand DNA, when it comes to product, is design -- but this is easily recognizable by looking at the car -- and is performance and driving engagement. And by doing the electrification step we are not compromising or doing some trade-off. We are just increasing the opportunity for the customer but looking always that this is the main reason for having or for buying or for creating a Lamborghini car.
Brauer: How has your customer changed? I heard you mention you've got one of the younger customer bases and that you're moving down in age, which I think every car company would love to do. What's been the change for the Lamborghini customer over the last five, ten years?
Foschini: Well, I think one is a dimension—a quantitative, let’s say, change. Because with the introduction of Urus in 2018, we almost doubled sales and number of cars that we are selling every year. And important point was that Urus—especially in first phase of its life; so first generation—was at ratio 80% new customers brand who were not experiencing Lamborghini before for different reasons. Because they were not approaching Lamborghini; because they were not buying super sport cars; because maybe they were buying super sport cars other brands; they were not moment maybe attracted; or they were not knowing enough about Lamborghini.
And after buying an Urus they start to buy other Lamborghini product because they start to know brand better; be inside brand; know product; appreciate kind new experience. And this increasing customer base. Urus able attract more women; also people as I said were unsure super sport cars. So we were also having another kind customer maybe not typical Lamborghini customer. And year year increasing number people.
On other side this kind characteristic very young customer base. And something think linked brand because aspirational looking forward brand. But also product; because especially last year launching new products really creating attention customers wanted try Lamborghini maybe found new dimension Lamborghini portfolio.
Brauer: Last question. Where's the biggest growth regionally on the planet? Where are you seeing customers come in strongest compared to a few years ago?
Foschini: I have to say that in last year we were growing almost all countries. Biggest growth general moment Europe. So Europe region growing consistently. We are also big growth Japan market love brand especially Countach. But also Korea growing every year constantly. But as I said last year general growth around world always controlled consistent managed headquarters allocating volume homogeneous well-distributed way. So never exceed level thinking ideal level each every market.
Brauer: Right. You still want it to be a special kind of elite brand.
Foschini: Yeah, yeah. And also because sometimes we need to react to some macro-economical or geopolitical situations that are not controlled by us, but we need to face. For example, in 2022, from one day to another we had to close the Russian market because...we know the reason why. But this was something that we were managing, not touching the general target of the company by reallocating our production and our volume in other markets because the space was there. So the opportunity was there.
Brauer: Thank you for your time. Really appreciate it.
Foschini: Thank you. Thank you very much.