Lamborghini profits up 27% for 2008 due to cost-cutting, outlook for 2009 hazy

Lamborghini has released its pre-tax profits for 2008, and the supercar manufacturer netted a total of 60 million euros ($79.6 million) last year for a 27% increase over 2007. Overall sales were up a scant 2.5%, eclipsing the previous year's sales record (2,406 vehicles) with 2,430 cars sold worldwide. The increase in sales is attributed to growth in China and the Middle East, while sales in the U.S. fell by over 20% to just 741 vehicles (down from 930 in 2007). Obviously, the additional profits didn't come from a massive sales increase. Instead, Lamborghini placed 300 of its 1,000 employees on shorter work days from February through May, netting an additional savings.

Naturally, the automaker isn't bullish (rimshot) for 2009, with CEO Stephan Winkelmann admitting that the economic downturn is likely to affect Lamborghini's sales. However, it remains committed to bringing a new model to market each year, so expect more hotness from Sant'Agata in 2009 and beyond.