Tariffs are taxes, period. That's just a fact, and there's no getting around it. Every time Trump brags about how much revenue his tariffs are bringing in, he's bragging about how much he raised taxes on the American people. That's a problem if you're already struggling to pay the bills, and suddenly a bag of coffee beans costs way more than it used to, but you'd think that wouldn't be a problem for the wealthy, since, well, they're wealthy. According to Lamborghini's CEO, that's not actually the case,
CNBC reports.
However, it isn't that they can't afford a $400,000 Lamborghini that now costs $500,000. It's that Trump singlehandedly raising taxes on the entire country has been done in such a chaotic, confusing, haphazard way, the ultra-wealthy are holding off on ordering new cars in the hope that things stabilize soon. Allegedly, Trump's agreed to only slap a 15% tax on European cars such as Lamborghini, but that hasn't gone into effect yet, so Lamborghini currently still has to pay 27.5% on every car it imports to the U.S. And what self-respecting billionaire wants to pay more now for something they could buy later for a little less?
"Some are waiting because they want to be sure that this is the final number that is going to be in place," Lamborghini CEO Stephan Winkelmann told CNBC. "Others are fine with it, or we will have negotiations."
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They're Still Price Sensitive, Just Like Us
Assuming the tariff tax situation eventually stabilizes — and with Trump in charge, that's a big assumption — Winkelmann told CNBC Lamborghini will still have to deal with those import charges. Lamborghini isn't just a supercar company, after all. It's very specifically an Italian supercar company, and building its cars anywhere else, including the U.S., would be far more scandalous than raising the price on a Revuelto.
Plus, according to Winkelmann, even the ultra-wealthy aren't completely immune to the effects of price increases. Not that they can't afford it. They just don't like paying more for something they think should be cheaper. Kind of like how it feels wrong to spend $15 on a single meal at McDonald's, even if you have the money and could otherwise afford it. "They are millionaires or billionaires for a reason, so they know what they're doing and why they're doing things," Winkelmann told CNBC. "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."
But while Lamborghini has already said it plans to raise the prices on its vehicles to account for Trump's tariffs, you have to imagine that for many of its customers, that's a small price to pay in exchange for the freedom to abuse their workers, pollute with complete abandon and pay fewer taxes on their income. Because, as always, the rich will only keep getting richer, no matter how much it hurts regular people who need their jobs to survive.
H/T: CarScoops
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