Supercar manufacturer Automobili Lamborghini posted a narrow 5.4 million euro ($7.7 million) profit for the first half of 2009, attributing its decline to a 37 percent drop in worldwide vehicle deliveries.
Profits for the same period of 2008 were $50 million. Lamborghinis first-half revenues dropped 43.4 percent to $223.7 million.
This was the first decline in Lamborghinis growth and profit in several years.
During the first half of 2009, Lamborghini delivered 825 cars. Worst hit was the U.S. market, with sales falling 52 percent to 207 units. However, some key European markets, such as Italy and Switzerland, remained flat, while Germany and the U.K. showed marked declines. The nascent Chinese market saw slight growth.
Lamborghini CEO Stephan Winkelmann declined to give a definitive full-year profit forecast, other than to predict the company will finish in the black.
We are not immune to the global recession, Winkelmann said in a statement, adding, We will maintain the profitability of the company, (and) continue our investment into the future with product technology and innovation alongside a firm ecological stance.
He said the sour economy will not stop Lamborghinis product cadence of at least one new product unveiling every year.