Lamborghini released financial results for the first half of 2025 on Wednesday, revealing record sales for the period. But it's not all good news in Sant'Agata Bolognese. Revenue remained flat year-over-year, while operating profit fell by nearly 5 percent.
The Italian carmaker says the drop is "primarily due to the unfavorable exchange rate trends in the last quarter," though if we had to guess, tariffs imposed by US President Donald Trump were likely also a factor.
"The results from the first six months of 2025 are solid despite global economic and political instability, confirming that the decision to hybridize the entire range was the right one," CEO Stephan Winkelmann said in a statement.
Lamborghini delivered 5,681 cars in the first six months of 2025, an increase of over 2 percent compared to the same period last year. The combined regions of Europe, the Middle East, and Africa led the way, with 2,708 units sold. They were followed by the Americas, with 1,732 units sold. The Asia-Pacific region pulled in 1,241 sales.
Winkelmann attributes the strong sales to the company's two latest models, the V-12-powered Revuelto flagship and the large-volume Urus SE utility vehicle.
"The success of the Revuelto and Urus SE demonstrates that our vision is shared by our customers, and we now look forward to the market launch of the Temerario, which will complete the first fully hybrid range in the segment," he said.
While sales increased, operating profit dropped by around 27 million euros ($31 million) year-over-year, to 431 million euros. Profitability remained high, however, dropping only slightly, from 28.2 percent to 26.6 percent.
“In the current macroeconomic and geopolitical context, the financial and business performance of the first half of 2025 demonstrates the resilience we have built over the years, and confirms once again the brand’s positioning among the leading players in the luxury sector," CFO Paolo Poma said in a statement.
While it's impossible to tell where the future will take Lamborghini, we don't suspect its growth to subside any time soon. The company's Huracán replacement, the Temerario, is set to begin deliveries any day now, which should bolster sales going into the second half of the year—tariffs be damned.
Beyond that, things are less clear. Earlier this month, Lamborghini walked back previous plans to introduce an all-electric Urus. Now, that car, set to be introduced in 2029, will be a hybrid instead. Last week, Winkelmann suggested the company's first EV, based on the Lanzador concept, might end up not being an EV at all, but rather another hybrid.
Considering how well the hybrid thing is going for Lamborghini right now, those might not be bad decisions. Only time will tell.
