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Lamborghini Has News That Shows 'Recessions' Are Relative

The Italian sports-car icon is a fave of the style-and-money set.
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If you've ever spent any time in Miami, Beverly Hills, or Dubai, chances are, you've seen (or at least heard) a Lamborghini race by. 

The iconic racing car is synonymous with style and money; whether you're Mariah Carey, Justin Bieber, or Cristiano Ronaldo, if you're at the top of your game, you probably drive at least one.

Founded outside Bologna, Italy, in 1963, Lamborghini was quite literally founded to compete with fellow iconic luxury Italian sports car Ferrari.  (RACE) - Get Free Report

And after 60 storied years, founder Ferruccio Lamborghini may have gotten his wish: The Lamborghini Aventador SVJ's top speed is around 217 mph, whereas the Ferrari 488 Pista clocks in at a top speed of just (!) 210. 

It helps that Lamborghini is backed by one of the biggest automotive industries in the world. Bought by Volkswagen Group  (VLKAF)  in 1998, Lambos are managed in the Audi AG division within Volkswagen, a partnership that's contributed immense growth and creativity to the iconic car in the past 25 years.  

Lamborghini Hits Record Sales Growth in 2022

Something special happened to Lamborghini in 2022. According to the company, Lamborghini "broke all records," in the past year, outpacing all past sales. 

Lamborghini delivered a total of 9,233 cars globally and beat its record in all key markets. Its biggest market was the U.S., where it saw a 10% increase from 2021 and delivered 2,721 cars total.

Here's a breakdown of other key markets:

  • China Mainland, Hong Kong, & Macau: 1,018 cars, +9%
  • Germany: 808 cars, +14%
  • U.K.: 650 cars, +15%
  • Japan: 546 cars, +22%

The company attributes some of its success to an uptick in Lamborghini dealers worldwide. It added seven in 2022, bringing it to a total of 180 locations globally. 

And the company hopes to continue its success despite rapidly changing demand for internal combustion -- gasoline-powered -- engines. The company said in 2021 that starting in 2024, all its new models will be hybrid

Many are already anticipating the release of Lamborghini's new hybrid SUV, the Urus, due out next year. 

It's worth noting that Lambo isn't the only luxury-car company doing well. 

Rolls Royce  (RYCEF)  on Monday reported it had record sales in 2022, despite its average $534,000 price tag, TheStreet's Veronika Bondarenko reports. For comparison, Lamborghinis start around $210,000 but pricier models can fetch up to $5 million.