Lamborghini, the Italian maker of racy luxury automobiles, reported record sales today. It delivered 3,815 vehicles to customers last year, its seventh consecutive year of sales growth.
Now, correlation is not causation, but Quartz would like to point out that as Lamborghini sales have surged, so has the price of ether, the digital token used by the ethereum cryptocurrency network. Ether traders prize Lamborghinis (half-jokingly) as the ultimate status symbol in their world.
Santa is arriving early this year, and he’s bringing gifts from Italy. The actual showcasing of the car is forestalled by about one full minute of branding bullshit, but Lamborghini just presented its first SSUV (yes, Super SUV) and while it looks a hoover ship straight out of the Matrix, we would opt for a test drive first before ordering it and heading out to the Alps with the family. Because although the interior looks astonishing, it doesn’t look like there’s much legroom in the back. And that can be a problem, just as any Aston Martin Rapide owner will tell you.
Well, we hear you think: “screw the kids, I want to reach the Alps, fast,” and if that’s your mantra, you’re in for a treat. The Urus has a 4.0 litre V8 twin-turbo engine and rocks 650 brake horsepower with 850 Nm of torque. So yeah, the thing is fast.So fast, that it will go from 0-100 km/h in 3,6 seconds and will not stop until it reaches 305 km/h. That’s faster than a Cayenne Turbo, but it must be said, the Cayenne can hold four adults, easily.
The Geneva Motor Show is in full swing after opening to the press this morning, but things really kicked off last night when Lamborghini unveiled the highly anticipated supercar it created to mark its 50th birthday.
Named for a legendary fighting bull, the Veneno checks off all the supercar must-haves: Carbon fiber body construction, a striking body style made with aerodynamics in mind, and an eye-popping price tag.
At $3.9 million, the Veneno is the most expensive Lamborghini ever built and is among history’s priciest production cars.
Its 6.5-liter, 12-cylinder engine will produce a whopping 750 horsepower, enough to send the car from from 0 to 62 mph in 2.8 seconds, and up to a top speed of 220 mph.
Rumors are circulating that reports of the demise of the Chinese auto market may be exaggerated now that even David Einhorn is forced to defend his GM long (because it “has a strong cash position” – sure, and stuffs channels like no other) however stripped of stereotypes and hype, the reality is that even the one time impregnable ultra luxury car market in China is now faltering at an ever faster pace. BusinessWeek reports: “Waiting lists for ultra-luxury cars in Hong Kong are getting shorter and used-car lots are cutting prices on Lamborghinis, Ferraris and Bentleys in the latest sign of China’s slowdown. At first glance, the numbers are deceiving: Sales of very expensive new autos surged 47 percent in the first six months, according to industry analyst IHS Automotive. Look more deeply, however, and another picture emerges, especially in the city’s used-car lots.” The picture is ugly: ““The more expensive the car, the more dry the business,” said Tommy Siu at the Causeway Bay showroom of Vin’s Motors Co., the used-car dealership he founded two decades ago. Sales of ultra-luxury cars have halved in the past two or three months, he said. “A lot of bankers don’t want to spend too much money for a car now. At this moment, they don’t know if they’ll have a big bonus.”” Sad: they should all just go to Singapore and manipulate Libor. Oh wait, too soon?
Curiously, unlike virtually every other manipulated asset class, Hong Kong car sales provide a somewhat insulated view into the heart of China’s beating economy: