Lamborghini: Time to apply the brakes!

Friday, October 28, 2005

Lamborghini: Time to apply the brakes!

In a very rare move for a car manufacturer, Lamborghini announced that after 3 years of warp speed sales, it's time to apply the brakes. Lamborghini's CEO Stefan Winkelmann told this to Automotive News.

Stephan Winkelmann, 41, head of Automobili Lamborghini S.p.A. since January, said he decided shortly after his appointment not to top last year's global sales of 1,592 cars in 2005. It's an unusual decision for a carmaker - but not so bizarre for Lamborghini.

For 40 years of its existence, Lamborghini sold about 250 cars a year. It has had an unusual series of owners since it was launched in 1962 by Ferruccio Lamborghini. They included the Chrysler group and a group of Indonesian investors.

In 1998, Lamborghini was acquired by Audi. Audi invested the equivalent of about $419 million at today's exchange rates and assisted with engineering, Winkelmann said.

Since 2001, Lamborghini has launched two cars - the Murcielago coupe, with a base price of $289,300, and convertible powered by a V-12 engine, and the Gallardo V-10 coupe, which starts at about $176,300. The prices include delivery, but not the gas-guzzler tax. An open-top Gallardo arrives next year.