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On this day: 04-23-1987

Chrysler buys automaker Lamborghini

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.

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