Automobili Lamborghini SpA. was
officially founded in 1963. That same year, the very first Lamborghini, the
350GT, made its debut at the Turin Motor Show. The car's name came from its
engine size, a 3.5-liter four-cam V12. Then came the 400GT, which was
produced until 1968. But it was the stunning midengine Miura, produced from
1966-'73, that catapulted Lamborghini to worldwide acclaim.
Lamborghini's tractor business suffered hard times in the early '70s, which
led him to sell a controlling interest of Automobili Lamborghini SpA to a
Swiss industrialist. The Italian's problems were worsened by that decade's
oil crisis, and he wound up selling the remaining amount of his shares. The
company invested millions in the development of a new vehicle, the military
truck-style Cheetah, but its sales were disappointing. By the end of the
decade, the automaker had declared bankruptcy.
The company got back on its feet in the 1980s. The key was Lamborghini's
over-the-top Countach. Though introduced way back in 1974, the Countach, now
fully styled with angles and vents, was the perfect exotic sports car for
that's decade's mentality. Perhaps hoping to cash in on the firm's revived
popularity, the company's managers sold Lamborghini to Chrysler in 1987.
Another change of ownership took place in 1994, when Lamborghini was
acquired by three Far Eastern companies. Megatech was the largest of the
trio and the primary shareholder. By the late 1990s, Lamborghini was in
financial hot water once again. As before, the lack of a diversified product
lineup was hurting the company's ability to compete globally. It was
acquired by Volkswagen (which also owns other luxury marques such as Audi
and Bentley) in 1998.
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