Lamborghini sees turnaround in 2011

PARIS (Reuters) - Italian luxury sports carmaker Lamborghini sees flat sales this year and does not expect the market to return to pre-crisis levels before 2012 as the United States will take time to pick up speed, its head said.

This year is one of transition, helped by continued growth in China, Stephan Winkelmann, the company's president and chief executive, told the Reuters Global Luxury Summit in Paris.

"I see that for the total (sports car) market, with the ups and downs, there will be a growing market, not before 2012 I see levels back to the levels of 2007/08," he said on Thursday.

Since 1998, Lamborghini has been a unit of the Audi brand (NSUG.DE), owned by top European carmaker Volkswagen (VOWG_p.DE).

Lamborghini, known for its raging bull logo and sleek design with high top speeds, was severely hit by the crisis last year, during which sales fell 41 percent to 281 million euros ($345.6 million), Winkelmann said.

Deliveries fell 37.7 percent to 1,515 units worldwide in 2009. Lamborghini sold 2,430 cars in 2008, its record year.

Lamborghini prices range from 180,000 euros to 400,000 euros.

Winkelmann said he expected European Union countries' austerity measures to hurt consumer spending and hit sales this year, while the U.S. economy would remain weak.

"We see zero growth in Europe and the U.S. this year," the CEO told Reuters Insider Television.

CHINESE PUSH

Winkelmann said he expected to sell more than 100 cars in China in 2010, up from about 80 last year, even though custom duties more than doubled the retail price. Lamborghini will also increase the number of dealers in China from 7-8 to 12 this year, he said.

However, the premium carmaker does not expect China to replace the U.S. as its first market.

"Taxation is heavy in China, and rules can change from day to night," Winkelmann said.

Lamborghini is among 10 brands including Bugatti and Bentley that will become part of a group co-owned by Porsche SE (PSHG_p.DE) and Volkswagen.

Winkelmann said the new organization would not dilute the brand.

Volkswagen took a further step in its multi-stage integration with Porsche in December when it acquired a 49.9 percent stake in Porsche's sports car business for 3.9 billion euros.

Lamborghini competes head-on with Ferrari, owned by Italian carmaker Fiat (FIA.MI).

Lamborghini said it was on track to reach an individual target to cut emissions from its cars by 35 percent by 2015.

A Lamborghini produces more than 400 grams of carbon dioxide per kilometer, while an average car produces 150-160 grams. The European Union's target for most car makers is 120 grams by 2012.

Based in Sant'Agata Bolognese in central Italy, the company was founded in 1963 by Italian Ferruccio Lamborghini, a visionary self-made man with a passion for fast cars.

($1=.8131 Euro)

(Editing by James Regan)