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Sports car maker sees sales and profit rise

LAMBORGHINI, whose made-to-order sports cars are popular with celebrities and the wealthy, said yesterday it made record deliveries and profits in 2008.

The Italian company - part of Volkswagen AG - posted pretax profit of 60 million euros (US$79.6 million). That was up 27 percent from 47.1 million euros in 2007. Net profit figures were not released.

The increase was driven by improved sales in China and the Middle East, which helped offset a dip in the United States. In China, sales more than doubled to 72 cars compared to 28 a year earlier.

"In the light of worldwide economic uncertainties, this new record year above all proves the sustainability of our business strategy," Chief Executive Stephan Winkelmann said.

"We know that there are tough times ahead now, but we have increased the value and appeal of our luxury brand and we are ready to take on the challenges the future might bring us."


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