全系车型混动化首年 兰博基尼交付量再创历史新高

Core Insights - The luxury car market is expected to slow down significantly by 2025 due to the dual pressures of electrification and geopolitical fluctuations, yet Lamborghini is projected to deliver over 10,000 units, setting a new historical record [1] - Lamborghini's hybrid strategy has proven effective, with a slight increase in global deliveries from 10,687 units in 2024 to 10,747 units in 2025, showcasing its successful transition to hybrid models [1] - Lamborghini's CEO emphasizes the company's focus on sustainable growth rather than merely chasing sales peaks, reflecting a strategic response to market dynamics and customer expectations [1] Hybridization Strategy - Lamborghini has completed the hybridization of its entire model lineup, becoming the first ultra-luxury brand to offer a full range of hybrid vehicles, including Revuelto, Urus, and Temerario [2] - The introduction of high-performance hybrid models like the V10 HPEV Revuelto and the plug-in hybrid Urus SE has been well-received by consumers, contributing to improved sales performance [2] - The upcoming V8 HPEV model, Temerario, is set to start deliveries in January 2026, with existing orders already covering approximately 12 months [3] Market Performance - In 2025, Lamborghini's deliveries were strong across all three major regions: Europe, the Middle East, and Africa (4,650 units), the Americas (3,347 units), and the Asia-Pacific region (2,750 units) [1] - The company has experienced a significant shift in its customer demographic, with a younger average customer age of around 35 in China, contrasting with traditional luxury car buyers [6] - The Urus model has attracted over 70% of new customers since its launch, indicating its strong market appeal and the brand's ability to tap into a younger consumer base [6] Industry Trends - The luxury car market is undergoing a transformation, with a notable decline in imported car sales in China, which are expected to reach a ten-year low of 480,000 to 500,000 units in 2025, down 29.7% year-on-year [5] - Chinese consumers are shifting their focus from foreign luxury brands to domestic high-end brands, emphasizing value for money and practical needs, which poses challenges for foreign luxury brands [5] - Lamborghini's CEO notes that the market is increasingly favoring comfort-oriented vehicles over performance models, reflecting changing consumer preferences in urban environments [4] Future Outlook - Lamborghini plans to continue its hybrid strategy, with the next-generation Urus model set to launch in 2029 as a plug-in hybrid rather than a fully electric vehicle, indicating a cautious approach to electrification [7] - The brand's focus on maintaining product exclusivity and a competitive product matrix has been crucial in navigating the challenges posed by geopolitical and macroeconomic factors [2]