Even the super-rich are reluctant to sign a check for several hundred thousand euros. That's the conclusion drawn by Stephan Winkelmann, CEO of Lamborghiniin an interview with CNBC. According to him, the uncertainty surrounding tariffs between Europe and the United States is already starting to chill some buyers... including millionaires and billionaires.

"They're millionaires or billionaires for a reason: they know what they're doing and why they're doing it," he explained. As a result, many wealthy customers prefer to wait for the situation to stabilize before ordering their next supercar.

Tariffs take their toll, even on luxury goods

Today, European manufacturers exporting to the USA face a tax of 27.5 %. This rate could fall to 15 % following recent agreements, but is not yet effective. With an entry price of over $400,000 for a Lamborghini, each percentage of tax represents tens of thousands of euros. A sobering thought, even for those for whom money has never seemed an issue.

For Lamborghini, there's no getting around the problem by producing locally: "made in Italy" is at the heart of its DNA. "For us, free trade is the right approach. But reality is complex, and we have to adapt," summarized Winkelmann.

Order books remain solid

If the brand is not worried about an immediate drop in demand, it's because current deliveries concern cars ordered one or two years ago. The price increases already announced - +7 % for the Temerario and Urus, +10 % for the Revuelto, have not yet had their full effect.

In the meantime, Lamborghini enjoys exceptional momentum 1.62 billion in revenues in the first half of 2025, more than 5,600 cars delivered and a range updated with hybrids. Latest addition, la Fenomenoan ultra-limited series of 29, boasts 1,080 hp and a 0 to 100 km/h time of 2.4 seconds.

The electric future postponed?

But the future isn't just about taxes. While an electric 100 % model was planned for 2028, Winkelmann admits that the slowdown in the electric vehicle market is causing the project to be reconsidered. The model could finally be launched in a hybrid versionA decision is expected by the end of the year.

"It's not important for us to be the first on a technology, but to get to the point where it's accepted and offer the best version."

A younger, more diversified customer base

Customs turbulence aside, the bull brand's customer base is changing rapidly. The average age of buyers is now under 45, and in Asia it even drops below 30. Women are also increasingly present, thanks in particular to the success of the Urus, and Lamborghini is multiplying events dedicated to them, such as the She Drives a Lambo program.