Business
Lamborghini CEO says tariffs are causing even the wealthiest buyers to pause
Uncertainty around tariffs has caused even the wealthiest buyers of Lamborghini supercars to hold off on their purchases, CEO Stephan Winkelmann told CNBC.
While the White House recently announced an agreement with Europe on a 15% tariff rate, that rate hasn’t yet taken effect for cars. Lamborghini and other European automakers are still paying a tariff rate of 27.5% on exports to the U.S. With the price of a Lamborghini starting at $400,000, many buyers are choosing to wait for more stable tariff rates before buying, Winkelmann said.
“Some are waiting because they want to be sure that this is the final number that is going to be in place,” Winkelmann said. “Others are fine with it, or we will have negotiations.”
Wherever the final tariff rate settles, however, Winkelmann said the levies will have some impact on the company’s business. He said Lamborghinis can’t be produced in the U.S., since the “made in Italy” promise is core to the brand. And he said that even the wealthy are sensitive to price increases.
“They are millionaires or billionaires for a reason, so they know what they’re doing and why they’re doing things,” he said. “For us, free trade is the right approach. We all know that is what we want. But then there is the reality, and we have to deal with complexity, since we are in business. … We are ready to face whatever comes.”
For now, the company is fairly insulated from any immediate drop-off in demand, since it has a large back order. Cars being delivered today were ordered a year or two ago. Lamborghini announced this summer to dealers that prices would increase by 7% for the Temerario and Urus models and 10% for the Revuelto.
The company, owned by Volkswagen‘s Audi Group, is also riding high from a wave of new models. It reported record revenue in 2024 of more than 3 billion euros ($3.5 billion) and deliveries of 10,867 cars. It’s launched three new models since 2023, all plug-in hybrids: the 8-cylinder Temerario, which replaces the Huracan; the 12-cylinder Revuelto, which replaces the Aventador; and the Urus SE, a hybrid SUV.
For an upcoming fourth model, Lamborghini had announced an all-electric grand touring car to debut sometime in 2028. But Winkelmann said with EV demand slowing, the company is considering releasing it as a hybrid instead and will decide by the end of the year.
“There is a flattening in the acceptance of electric cars, not only at the high end and exclusive supercars, but also in the general market,” he said. “So the trend is going to be delayed in general, and we have to decide. For a car like Lamborghini, it’s not important to be the first one to show a new technology, but to be there when it’s accepted and to have the best technology at that time.”
Last week at Monterey Car Week, Lamborghini unveiled a new limited-production supercar called the Fenomeno. It’s the fastest and most powerful Lambo yet, boasting 1,080 horsepower and 0 to 60 in 2.4 seconds thanks to a 6.5-liter, V-12 engine paired with three electric motors.
Lamborghini will make only 29 Fenomenos, which are part of what Winkelmann calls the “few-offs” strategy of super-rare, hyper-performance versions of its current lineup for top clients.
Also helping the company: a surge in wealth around the world that’s becoming younger and more diverse. Lamborghini owners have an average of five cars in their garage, and owners of the higher-priced Lambos have an average of 10 cars. The average age of the Lamborghini buyer now is under 45, and in Asia it’s under 30, he said.
“There are a lot of countries where we have very young customers,” he said. “We have the second generation of wealth. But we also have a very young customer base of entrepreneurs who made their money themselves.”
Relative to the growth in global wealth, however, Lamborghini’s production has remained small. And while the U.S. is still its largest market, Lamborghini carefully manages supply in every country to make sure the brand remains exclusive and special, Winkelmann said.
“We will always look to make sure we do not crowd one market, and to have always a global view where we are selling the cars,” he said.
Women, he said, will also be a key driver. The Urus has welcomed more women buyers to the brand, and Lamborghini is holding more women-focused events, like the “She Drives a Lambo” driving gatherings.
“We have always been a very male-driven brand, very attractive to males with the design and performance,” Winkelmann said. “But on the other side, we are seeing that with the Urus, we have a lot more women stepping into the brand and having confidence with the brand.”
High-caffeine energy drinks will be banned for under-16s in England to prevent harm to children’s health, the Government has said.
The plan will make it illegal to sell energy drinks containing more than 150mg of caffeine per litre to anyone under 16 across all retailers, including online, in shops, restaurants, cafes and vending machines.
Lower-caffeine soft drinks – such as Coca‑Cola, Coca‑Cola Zero, Diet Coke and Pepsi – are not affected, and neither are tea and coffee.
However, high-caffeine energy drinks such as Red Bull, Monster, Relentless and Prime would all breach the limit.
Major supermarkets including Tesco, Sainsbury’s, Waitrose, Morrisons and Asda have already stopped sales of the drinks to youngsters, but the Department of Health said research suggests some smaller convenience stores are still selling them to children.
According to ministers, a ban could prevent obesity in up to 40,000 children and will help prevent issues such as disrupted sleep, increased anxiety and lack of concentration, as well as poorer school results.
Around 100,000 children are thought to consume at least one high-caffeine energy drink every day.
Health and Social Care Secretary Wes Streeting said: “How can we expect children to do well at school if they have the equivalent of a double espresso in their system on a daily basis?
“Energy drinks might seem harmless, but the sleep, concentration and wellbeing of today’s kids are all being impacted while high sugar versions damage their teeth and contribute to obesity.
“As part of our plan for change and shift from treatment to prevention, we’re acting on the concerns of parents and teachers and tackling the root causes of poor health and educational attainment head on.
“By preventing shops from selling these drinks to kids, we’re helping build the foundations for healthier and happier generations to come.”
A newly-launched consultation will now run for 12 weeks to gather evidence from experts in health and education as well as retailers, manufacturers, local enforcement leaders and the public.
Drinks containing more than 150mg of caffeine per litre must already carry warning labels stating they are not recommended for children.
Gavin Partington, director general of the British Soft Drinks Association, said firms do not market or promote the drinks to under-16s.
He added: “Our members have led the way in self-regulation through our long-standing energy drinks code of practice.
“Our members do not market or promote the sale of energy drinks to under-16s and label all high-caffeine beverages as ‘not recommended for children’, in line with and in the spirit of this code.
“As with all Government policy, it’s essential that any forthcoming regulation is based on a rigorous assessment of the evidence that’s available.”
According to the Department of Health, up to one in three children aged 13 to 16, and nearly a quarter of children aged 11 to 12, consume one or more high-caffeine energy drink every week.
Education Secretary Bridget Phillipson said: “This Government inherited a scourge of poor classroom behaviour that undermines the learning of too many children – partly driven by the harmful effects of caffeine-loaded drinks – and today’s announcement is another step forward in addressing that legacy.”
Professor Steve Turner, president of the Royal College of Paediatrics and Child Health, said: “Paediatricians are very clear that children or teenagers do not need energy drinks.
“Young people get their energy from sleep, a healthy balanced diet, regular exercise and meaningful connection with family and friends.
“There’s no evidence that caffeine or other stimulants in these products offer any nutritional or developmental benefit, in fact growing research points to serious risks for behaviour and mental health.
“Banning the sale of these products to under-16s is the next logical step in making the diet of our nation’s children more healthy.”
Carrera, from the youth-led group Bite Back, which campaigns for changes to the way unhealthy foods are made, marketed and sold, said: “Energy drinks have become the social currency of the playground – cheap, brightly packaged, and easier to buy than water.
“They’re aggressively marketed to us, especially online, despite serious health risks.
“We feel pressured to drink them, especially during exam season, when stress is high and healthier options are hard to find.
“This ban is a step in the right direction, but bold action on marketing and access must follow.”
Amelia Lake, professor of public health nutrition at Teesside University, said: “Our research has shown the significant mental and physical health consequences of children drinking energy drinks.
“We have reviewed evidence from around the world and have shown that these drinks have no place in the diets of children.”
Barbara Crowther, of the Children’s Food Campaign at Sustain, an alliance of food, farming and health organisations, said the drinks were “branded and marketed to appeal to young people through sports and influencers, and far too easily purchased by children in shops, cafes and vending machines”.
Professor Tracy Daszkiewicz, president of the Faculty of Public Health, said: “Mounting evidence shows us that high-caffeine energy drinks are damaging the health of children across the UK, particularly those from deprived communities who are already at higher risk of obesity and other health issues.
“We welcome this public health intervention to limit access to these drinks and help support the physical and mental wellbeing of our young people.”
James Lowman, chief executive of the Association of Convenience Stores, said: “The majority of convenience stores already have a voluntary age restriction in place on energy drinks, and will welcome the clarity of regulation on this issue.
“Our members have a long-standing track record of enforcing age restricted sales on different products, but it is essential that the Government effectively communicates the details of the ban to consumers to avoid the risk of confrontation in stores.”
(L-R) Mikayla Newton and Katerra Jones, reporters with the Prince George’s County during a news broadcast on May 15, 2025 in Largo, MD.
Michael A. McCoy | The Washington Post | Getty Images
Spending on political advertisements is projected to hit a new record, with this midterm season expected to reach a total of $10.8 billion, according to advertising company AdImpact.
That number for the 2025-2026 midterm season makes it the most expensive midterm cycle in history, surpassing spending for 2021-2022, which clocked in at $8.9 billion, by more than 20%. And it’s inching close to AdImpact’s price tag for the 2024 presidential election cycle, which reached $11.2 billion.
“We anticipate record spending across all race types due to the highly competitive national environment, with congressional spending specifically set to reach new heights,” the report said.
The race to snag control of Congress this year remains close, as Republicans hope to hold onto their 53-47 majority in the Senate and their 219-212 majority in the House. Key races in battleground states could determine or flip those majorities.
This cycle’s boost is largely expected to come from the connected TV, or CTV, category, which covers any television that connects to streaming apps and services. That spending will surge to $2.5 billion, AdImpact said, growing by 2% and earning a spot as the fastest-growing media type.
Broadcast television is forecast to continue to hold the largest share of spending at 49%, and local cable and social media spending are expected to decline slightly, the report said. That comes even as legacy cable TV has been bleeding millions of subscribers each year as streaming takes over as the primary way the world watches television.
“With $2.5 billion projected, CTV is now a core marketing strategy for 2026 campaigns, offering advertisers the ability to maximize both efficiency and overall reach,” said John Link, AdImpact’s senior vice president of data.
The forms of media vary based on types of elections, though, with down-ballot campaigns more likely to invest in cable and radio than larger races, according to AdImpact.
The most spending is expected to be in California, followed by Michigan, Georgia and North Carolina, all of which have highly competitive races this cycle. Advertising on Senate races is projected to reach $2.8 billion, while spending for House races is expected to surpass $2 billion for the first time ever as Republicans aim to hold onto their majority.
The midterm season has also already seen a surge in early spending, AdImpact noted. Though the off-year spending typically only amounts to 10% to 15% of total spending, 2025 has already surpassed records, hitting roughly $900 million by Aug. 26. That’s 37% higher than the same point in 2023 and 58% higher than 2021.
This season’s surge comes amid a particularly charged election cycle. Local elections have also garnered national attention and big spending, like the New York City mayoral race between Democratic nominee and state assemblyman Zohran Mamdani and former Gov. Andrew Cuomo, which has raked in millions in campaign funds and capitalized on social media ads.
Business
Rupee near record lows: Will exporters gain competitiveness or lose on rising import costs? All you need to know – The Times of India
The Indian rupee traded near record lows against the US dollar on Tuesday, slipping to 88.15 after closing at an all-time low of 88.18 a day earlier. The depreciation has provided exporters with better price competitiveness but raised concerns for import-heavy sectors.Exporters said the fall in the rupee presents a mixed picture. “On one hand, it enhances the price competitiveness of Indian products in global markets, particularly as exporters diversify beyond the US. On the other hand, for sectors with high import dependence such as gems and jewellery, petroleum products, and electronics, the cost of imported inputs will partly offset the currency advantage, squeezing margins,” Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said, PTI quoted him as saying.Exporters diversify amid tariff threatThe government has urged exporters to diversify shipments beyond the US, warning that Washington’s 50 per cent tariffs on Indian goods could dent shipments. The US accounts for about 20 per cent of India’s exports, amounting to $86.5 billion in 2024-25 out of a total of $437 billion.Sahai added that the rupee’s weakness offers an opportunity to deepen presence in emerging markets while pushing for greater domestic value addition. “That will reduce import intensity and ensure sustainable export growth,” he said.Importers face rising billsFor importers, the impact has been immediate. “The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars,” said a trader, who did not wish to be named.India meets 85 per cent of its oil needs through imports, making petroleum products particularly vulnerable. The basket of imports also includes crude oil, coal, plastic materials, chemicals, electronic goods, vegetable oil, fertiliser, machinery, gold, pearls, precious and semi-precious stones, and iron and steel. Overseas education and foreign travel are also expected to become costlier.Kanpur-based Growmore International Ltd MD Yadvendra Singh Sachan said that stability was crucial. “Any volatility in the value is not good for both exporters and importers. At the current scenario, 85 will be better,” he said.The rupee’s slide has been attributed to uncertainty over the Indo-US trade deal, capital market outflows, and weak domestic equities. Forex traders said risks remain skewed to the downside amid tariff concerns.India’s exports snapped a two-month decline with a 7.29 per cent rise to $37.24 billion in July, but the trade deficit widened to an eight-month high of $27.35 billion. During April-July 2025-26, exports rose 3.07 per cent to $149.2 billion while imports increased 5.36 per cent to $244.01 billion, leaving a trade deficit of $94.81 billion.
Lab-grown gems are robbing Botswana of its diamond riches
High-caffeine energy drinks to be banned for under-16s in England – Streeting
France urges US to back Europe on Ukraine guarantees
-
Tech7 days agoReview: Google Pixel 10 Series
-
Sports6 days agoNew Zealand rugby player Shane Christie, who suffered multiple concussions, dies aged 39 – SUCH TV
-
Tech6 days agoTop CDC Officials Resign After Director Is Pushed Out
-
Fashion6 days agoPortugal Jewels Chiado boutique nominated for two global design awards
-
Fashion6 days agoICE cotton futures fall for 2nd consecutive day on strong crop outlook
-
Sports6 days agoNew-look Pac-12 extends CW deal through 2031
-
Fashion6 days agoIsrael’s Delta Galil posts $470 mn Q2 sales, updates 2025 guidance
-
Sports6 days agoDolphins GM Chris Grier says fans threatened his family in string of vile emails after team’s lackluster year