IL Exclusive: No Green Light - Yet - for Lamborghini Estoque Concept

Weekend reports in Autocar and other European publications, citing a Lamborghini executive, said the Estoque project had been "shelved" and "put on ice."

Those reports "could not be further from reality," Lamborghini design and marketing boss Manfred Fitzgerald told Inside Line on Monday at the launch of the LP560-4 Gallardo Spyder here on the Canary Islands.

A March 21 report in Autocar had quoted Maurizio Reggiani, Lamborghini's head of research and development, as saying the Estoque was being delayed because "the timing and market conditions are just not right for an additional model line."

In conversation here with Fitzgerald and communications director Dominik Hoberg, both men stressed that the reports were off-base. "We had only just started any sort of feasibility study for the Estoque," said Fitzgerald. "The Estoque wasn't even yet a confirmed part of our product plans, so the truth is that this is just a prudent delay in any go-ahead plans for the car."

Fitzgerald added, "The current handling of Estoque for us has nothing similar whatsoever to the Porsche Panamera or Aston Martin Rapide situations. For them, these were approved long ago for production and the full commitment was invested. With Estoque, we're still in the business case phase."

When asked what the response has been to Estoque from the press, public, customers and dealers, Fitzgerald replied that "reaction has been off-the-scale positive from all quarters. We've had an avalanche of intent requests from around the world."

Regarding the impact of global economic conditions, he added: "This decision on Estoque is absolutely the smartest thing we could have done at this time. Barreling ahead with it would have been the opposite of smart. For now."

There is no set future month or year for start-up of Estoque production. According to Lamborghini, which is controlled by Volkswagen's Audi division, all bets are off until the global economy can get back on two feet again.

Inside Line says: Don't cancel your dream just yet of owning a Lambo four-door. — Matt Davis, Correspondent