Thursday 23rd April 1987

Although the terms of the deal were not disclosed, the media reported that Chrysler had paid $25 million for Lamborghini, which at the time was experiencing financial difficulties. Lamborghini was established in 1963 by Ferruccio Lamborghini (1916-1993), a wealthy Italian industrialist who made his fortune building tractors and air-conditioning systems, among other ventures. Lamborghini owned a variety of sports cars, including Ferraris. According to legend, after experiencing mechanical problems with his Ferraris, he tried to meet with Enzo Ferrari, the carmaker´s founder. When Enzo Ferrari turned him down, Ferruccio Lamborghini decided to build cars that would be even better than Ferrari´s. Lamborghini´s first car, the 350 GTV, a two-seat coupe with a V12 engine, launched in 1963. Chrysler eventually sold it to a Malaysian investment group Mycom Setdco and Indonesian group V’Power Corporation in 1994. In 1998, Mycom Setdco and V’Power sold Lamborghini to the Volkswagen Group where it was placed under the control of the group’s Audi division.