Lamborghini Enjoys Vogue in Korea Despite Recession
18 November, 2019
No fewer than 130 eye-wateringly expensive Lamborghinis were sold in Korea despite a recession that has most people shutting their wallets. The average per year so far was 18.
Boosted by the surging sales, the Italian carmaker has allocated new vehicles for sale here. A new Lamborghini costs more than W300 million (US$1=W1,168).
According to the Korea Automobile Importers and Distributors Association on Sunday, a total of 78 Urus SUVs were sold here, each priced at a relatively cheap W250 million.
Sales of Rolls Royces, which cost an average of W459 million, also increased 44 percent to 140 this year.
The splurges of the ultra-rich seem to be caused by rising real estate values and stocks. "People who are flush with cash due to soaring property values have been inquiring a lot about buying super cars," an industry insider said.
Lee Hang-koo at the Korea Institute for Industrial Economics and Trade said, "As income disparity widens, the super-rich are getting more interested in showing off with flash cars."
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