Friday, November 06, 2009

Automobili Lamborghini

Automobili Lamborghini S.p.A.,commonly referred to as Lamborghini , is an Italian automaker based in the small township of Sant' Agata Bolognese. The company was founded in 1963 by manufacturing magnate Ferruccio Lamborghini. It has changed ownership numerous times since, most recently becoming a subsidiary of German car manufacturer Audi AG (itself a subsidiary of the Volkswagen Group) in 1998.[1][2] Lamborghini has achieved widespread recognition for its sleek, exotic designs, and its cars have become symbols of performance and wealth.

Ferruccio Lamborghini entered the automobile manufacturing business with the aim of producing a high-quality grand tourer that could outperform and outclass offerings from local rival Ferrari S.p.A. The company's first models had uninspired styling and were of lesser build quality, and sold in far fewer numbers to equivalent Ferrari offerings.

Lamborghini met with success in 1966 with the release of the mid-engined Miura sports coupé, and in 1968 with the Espada GT, the latter of which sold over 1,200 units during ten years of production. After almost a decade of rapid growth, and the release of classic models like the Countach in 1974, hard times befell the company in the late 1970s, as sales plunged in the wake of the 1973 oil crisis.

Bankruptcy crippled the automaker, and after passing through the hands of a number of Swiss entrepreneurs, Lamborghini came under the corporate umbrella of industry giant Chrysler. The American company failed to make the Italian manufacturer profitable, and in 1994, the company was sold to Indonesian interests.

Lamborghini would remain on life support throughout the rest of the 1990s, continuously updating the Diablo of 1990 in lieu of a planned expanded range of offerings, including a smaller car that would appeal to American enthusiasts. Reeling from the Asian financial crisis of the previous year, in 1998 Lamborghini's owners sold the troubled automaker to AUDI AG, the luxury car subsidiary of German automotive conglomerate Volkswagen AG. German ownership marked the beginning of a period of stability and increased productivity for Lamborghini, with sales increasing nearly tenfold over the course of the next decade.

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