Australian auction results heat up in time for spring
Home auction results rebound across the country despite a quiet weekend in Melbourne
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Australian auction results are on the up with the combined clearance rates across the capitals reaching beyond 60 percent for the fourth week running, CoreLogic data shows.
Head of research for CoreLogic Asia Pacific, Tim Lawless said preliminary data from the weekend revealed Sydney clearance rates have improved from a recent low of 50 percent in the last week of July to between 56 percent and 60 percent through to September.
The same improvements were evident in Melbourne, which had a recent low of 52 percent over the second last week of July but has now risen to between 61.9 percent and 62.7 percent through September to date.
“Reading through the weekly volatility, the trend in clearance rates has shown a clear improvement, but still remains below the long run average across the major auction markets,” he said.
Although there is no clear reason for the increased activity, Mr Lawless said it may be due to buyers being more willing to meet the market and vendors hoping for an early sale before the spring market kicks into high gear.
Luxury carmaker delivers historic revenues, record global sales, and robust profitability amid ambitious product transformation.
Fourth-quarter revenue climbed 24% to 110.61 billion yuan, equivalent to $15.30 billion, but missed estimates.
Luxury carmaker delivers historic revenues, record global sales, and robust profitability amid ambitious product transformation.
2 minLuxury car manufacturer Automobili Lamborghini has posted its strongest-ever financial results, achieving record-breaking revenues of €3.09 billion in 2024, surpassing the €3 billion threshold for the first time in the company’s history.
Operating income also reached an all-time high of €835 million, reflecting a 15.5% increase over the previous year, while maintaining an impressive operating margin of 27%.
Global sales saw significant growth, with Lamborghini delivering 10,687 cars in 2024, a 5.7% increase year-over-year. This growth was consistent across key markets in the Americas, EMEA, and Asia-Pacific regions, highlighting the global strength of the Lamborghini brand despite challenging market conditions.
Chairman and CEO Stephan Winkelmann attributed the company’s success to the strategic renewal of its product range and the strength of its team. “Evolving the entire product range while continuing to grow: this is how we can summarize another record year for Automobili Lamborghini,” Winkelmann said. “We are confident and determined as we embrace the next challenges in the sector, continuing to combine performance, exclusivity, and innovation.”
The record results reflect an intense 18-month transformation period, marked by the introduction of three new models. The launch of the Revuelto—the first V12 High Performance Electrified Vehicle (HPEV)—combined Lamborghini’s iconic heritage with advanced hybrid technology. Additionally, the new Urus SE elevated the Super SUV segment, introducing cutting-edge innovations in technology, efficiency, and performance. Lamborghini also introduced the Temerario at the prestigious Monterey Car Week, embodying the brand’s uncompromising spirit and design ethos.
Paolo Poma, Managing Director and CFO, emphasized Lamborghini’s commitment to sustainable growth and innovation. “Our goal remains achieving sustainable growth from both financial and environmental perspectives, creating lasting value for all stakeholders,” said Poma.
The company’s ongoing success has boosted employment significantly, with 1,000 new employees joining the workforce over the past two years, representing a 30% increase. This expansion is supported by Lamborghini’s most substantial investment plan ever, designed to modernize production, enhance manufacturing capabilities, and improve the sustainability of the company’s industrial ecosystem.
Automobili Lamborghini remains a significant contributor to Italy’s economy, reinforcing the global prestige of Made in Italy through a commitment to exclusivity, craftsmanship, and technological innovation. With these strong results, Lamborghini is poised for further growth and continued excellence in the luxury automotive industry.
New study finds that CEOs are more likely to be fired for company underperformance if a director has served in the military.
Fourth-quarter revenue climbed 24% to 110.61 billion yuan, equivalent to $15.30 billion, but missed estimates.
