MILAN (Reuters) - Lamborghini unveiled its first recreation-utility vehicle (SUV) on Monday, because the Volkswagen-owned (VOWG_p.DE) luxurious sportscar emblem strives to grab a share of a quick-growing market.
Produced at its Sant‘Agata Bolognese headquarters in Italy, Lamborghini believes the version could double its annual sales volumes, which stood at three,457 final yr.
Known as the Urus, which hyperlinks to the brand’s bovine branding, the SUV ought to assist it get entry to new markets and client organizations traditionally no longer attracted to its excessive-powered, low-slung sportscars.
“It's far a real Lamborghini in phrases of design, performance, using dynamics and emotion as well as drivable each day in a range of environments,” leader executive Stefano Domenicali stated in a statement.
The first Urus SUV may be introduced inside the spring of subsequent 12 months, with a retail charge tag in Europe of 171,429 euros (£a hundred and fifty,890), except for taxes.
The version marks Lamborghini’s entry into one of the quickest-growing vehicle markets.
Worldwide crossover and SUV sales have grown to 26.forty seven million devices in 2016 from 7.93 million just a decade in advance, information from IHS Markit showed. The forecaster expects that to develop to 34.34 million gadgets via 2020.
SUV income in the upper luxury cease of the marketplace, which includes the likes of Mercedes G-class and Bentley Bentayga, have grown almost 5-fold within the six years to 2016, IHS brought.
Lamborghini SUV races after new customers
The Urus boasts a four.0 litre V8 dual-turbo engine with 650 horsepower and top velocity of 305 km/h. It is able to race to a hundred km/h in three.6 seconds, Lamborghini said.
“It'll feature driving modes that deliver it abilities in off-tarmac situations inclusive of snow or sand. this may make it particularly attractive in markets wherein its sports activities cars are less appropriate,” said Ian Fletcher, an analyst at IHS Markit.
Fletcher forecasts Urus’ annual sales peaking at around 2,900 gadgets in 2019 and 2020, making up round 1/2 of Lamborghini’s general income. The emblem’s line-up presently includes the Huracan and Aventador sportscars.
Lamborghini, one in all Volkswagen’s strong of exceptional-luxurious manufacturers along side Bentley and Bugatti, has stated a plug-in hybrid model of the Urus could be brought out by 2020.