Lamborghinis snapped up in lockdown ‘revenge’ spree

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Brussels: People indulging in post-pandemic “revenge spending” have snapped up almost the entire year’s supply of Lamborghini cars.

Tired of having spent much of the last year cooped up at home, customers are buying high-end items as they emerge from lockdown.

Lamborghini are among the luxury brands reaping the rewards as the super rich splash out in the wake of COVID lockdowns.

Lamborghini announced it was set for “strong growth” this year, despite being forced to shut down for two months because of coronavirus.

The Italian supercar brand has sold 10 months’ worth of its annual supplies, Bloomberg has reported.

“Despite a two-month shutdown due to the pandemic, Lamborghini ended 2020 as its second-best year ever,” Stephan Winkelmann, the company’s chief executive, said at the Milano Monza Motor Show.

Buyers are splashing out on performance cars such as the Aventador, as the gloom of the pandemic lifts.

Lamborghini deliveries spiked by almost 25 per cent, a record, in the first quarter as shoppers made the most of their newfound freedom and enforced savings. The sales will offset a record £1.29 billion that the company is investing in plug-in hybrid versions of each of its models by 2024. Lamborghini wants to launch its first exclusively electric car in the second half of this decade.

The term “revenge spending” originated in the US, where tens of millions of customers are expected to go on a massive spending spree to make up for the past 15 months.

Financial experts predict a boom in retail spending because people who have not lost their jobs have spent far less than normal during lockdown.

The Telegraph, London

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