AUTOMOTIVE HISTOY – APRIL 23, 1987 - Chrysler buys Lamborghini
On this day in 1987 Chrysler Corporation purchases Lamborghini. In a transaction with the details left undisclosed it was estimated by the media that the deal was done for $25 million.
This came at a time when the luxury automaker was experiencing financial difficulty. Lamborghini was founded by Ferruccio Lamborghini in 1963.
Having already made a fortune in the production of tractors and air conditioners, Lamborghini had a passion for high performance cars. As legend has it he experienced mechanical issues with his Ferrari.
After trying to meet with Enzo Ferrari, the car company’s founder, and being turned down he decided to build better, faster cars. This led to the development of the 350 GTV, a V12 two seat coupe. In 1994 Chrysler sold Lamborghini to a group of investors based in Indonesia.
Then in 1998 Volkswagen took ownership of the brand. Today Audi is listed as the parent company. Lamborghini employees more than 830 people and is headquartered in Sant’Agata Bolognese, Italy. In 2014 the company produced 2,530 high performance vehicles. 1990 Lamborghini Diablo.
Make it a champion day!