Lamborghini revealed its first sport-utility vehicle (SUV) on Monday, as the Volkswagen-owned luxury sportscar brand aims to obtain a share of a fast-growing market.
Produced at its Sant’Agata Bolognese headquarters located in Italy, Lamborghini thinks the model could double its yearly sales volumes, which stood at 3,457 in 2016.
Called the Urus, which connects to the brand’s bovine branding, the SUV could help it access new markets and consumer groups generally not attracted to its high-powered, low-slung sportscars.
“It is a true Lamborghini in terms of design, performance, driving characteristics and emotion along with drivable every day in a series of environments,” CEO Stefano Domenicali stated.
The first Urus SUV will be delivered in the spring of 2018, with a retail price tag in Europe of 171,429 euros ($202,903), omitting taxes.
The model establishes Lamborghini’s entry into one of the fastest-growing auto markets.
Worldwide crossover and SUV sales have increased to 26.47 million units in last year from 7.93 million simply a decade previously, data from IHS Markit revealed. The forecaster anticipates that to grow to 34.34 million units by 2020.
SUV sales in the upper high-end end of the market, which consists the likes of Mercedes G-Class and Bentley Bentayga, have developed almost five-fold in the 6 years to 2016, IHS added.
The Urus possesses a 4.0 liter V8 twin-turbo engine with 650 horse power and top speed of 305 km/h. It can race to 100 km/h in 3.6 seconds, Lamborghini stated.
“It will include driving modes that provide it capabilities in off-tarmac circumstances such as snow or sand. This could make it especially appealing in markets where its sports cars are less ideal,” stated Ian Fletcher, an expert at IHS Markit.
Fletcher predicts Urus’ annual sales peaking at around 2,900 units in 2019 and 2020, comprising around half of Lamborghini’s overall sales. The brand’s line-up presently consists the Huracan and Aventador sportscars.
Lamborghini, among Volkswagen’s stable of super-luxury brands along with Bentley and Bugatti, has stated a plug-in hybrid version of the Urus will be drawn out by 2020.