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N0KFQ > TODAY 23.04.12 22:41l 57 Lines 2583 Bytes #999 (0) @ WW
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Subj: Today in History - Apr 23
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Sent: 120423/2018Z 21447@KB0WSA.MO.USA.NA BPQ1.4.49
Apr 23, 1987:
Chrysler buys luxury automaker Lamborghini
On this day in 1987, the Chrysler Corporation purchases Nuova
Automobili F. Lamborghini, the Bologna, Italy-based maker of
high-priced, high-performance cars. Although the terms of the
deal were not disclosed, the media reported that Chrysler 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.
The company's logo featured a bull, a reference to Ferruccio
Lamborghini's zodiac sign, Taurus the bull. Various Lamborghini
models had names related to bulls or bullfighting, including the
Miura, a mid-engine sports car that was released in mid-1960s and
gained Lamborghini an international following among car
enthusiasts and a reputation for prestige and cutting-edge
design. The Miura was named for a breeder of fighting bulls, Don
Eduardo Miura.
In the early 1970s, Lamborghini's tractor business experienced
problems and he eventually sold his interest in his sports car
business and retired to his vineyard in the mid-1970s. Automobili
Lamborghini changed hands several times and in 1987 was sold to
Chrysler. As The New York Times reported on the day of the sale:
"Chrysler officials have acknowledged in the past that an
association with a high-priced European brand could give it
credibility in the luxury end of the market, where the company
has long been weak." The Times also noted that Lamborghini was
producing about 450 cars a year and was best known for the
Countach, which carried a price tag of $127,000 and featured a
420-horsepower, V12 engine capable of speeds of 170 miles per
hour.
In 1994, Chrysler sold Lamborghini to a group of Indonesian
investors. Four years later, German automaker Volkswagen took
control of Lamborghini. The company has continued to build
high-performance cars, including the Murcielago (capable of 250
mph) and the Gallardo.
73, K.O. n0kfq
N0KFQ @ KB0WSA.MO.USA.NA
E-mail: n0kfq@winlink.org
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