Lamborghini reported full-year 2025 results on Thursday showing a paradox: the Italian sports carmaker achieved its highest-ever revenue and unit deliveries, but recorded weaker operating profits compared with 2024. The Volkswagen-owned luxury marque generated 3.2 billion euros in revenue, up 3.3% year-on-year, while deliveries reached a new high of 10,747 vehicles.
Despite those top-line gains, operating income fell to 768 million euros in 2025 from 835 million euros the prior year. Company executives attributed the decline to a combination of U.S. tariffs hitting sales and margins in Lamborghini's largest market, adverse currency movements and one-off charges tied to abandoning plans for its announced first fully electric vehicle.
CEO Stephan Winkelmann told reporters that Lamborghini implemented price increases last year but that the adjustments did not fully offset the impact of the tariff rates. He added that the company does not plan further price increases this year "as we do not think this is something helping the market at this time." Operating margin declined to 24% in 2025 from 27% a year earlier.
Management said the firm mitigated some external pressures through cost control measures and by shifting sales toward higher-priced models. The company highlighted its 515,000 euro Revuelto sports car as a contributor to higher average selling prices, and noted growing customer demand for bespoke, high-margin customisation. Lamborghini reported that almost all cars delivered in 2025 included at least one personalised element.
On the electric vehicle front, Lamborghini backtracked on earlier plans to introduce a fully electric sports car in 2030, citing weak demand and concerns about returns on the necessary investments. Winkelmann said "Resistance to EVs has increased significantly worldwide in our segment" and observed that "Many customers have tried EVs, but let’s say their experience didn’t quite live up to their expectations". He also stressed the company continues to invest in in-house EV technology to keep options open should demand shift in the coming decade, but added, "But I can’t see the trend today, and I don’t see it for tomorrow either."
Instead of launching a fully electric model, Lamborghini plans to introduce a plug-in hybrid called Lanzador in 2030. The Lanzador will be a 2+2-seat Grand Tourer and will join Lamborghini's existing all-hybrid lineup of three models.
The company declined to provide forecasts for 2026, with Winkelmann citing a range of uncertainties including the ongoing war in the Middle East, which he said is disrupting oil supply and logistics and could potentially depress demand in the high-margin luxury car market.
The results note the exchange rate used in reporting: $1 = 0.8717 euros.
Contextual note - Rival Ferrari is scheduled to unveil its first electric vehicle in May and has targeted fully electric cars to make up 20% of its lineup by 2030, a development Lamborghini referenced in discussing differing EV strategies within the luxury sports car segment.