Italian industrialist and Manufacturing magnate Ferruccio Elio Arturo Lamborghini was born on 28 April 1916, to grape farmers from the comune of Renazzo di Cento in the Emilia-Romagna region of Northern Italy. His mechanical know-how led him to enter the business of tractor manufacturing in 1948, when he founded Lamborghini Trattori, which quickly became an important manufacturer of agricultural equipment in the midst of Italy’s post-war economic reform. In 1963 Ferruccio Lamborghini founded Automobili Ferruccio Lamborghini S.p.A. in 1963 in Sant’Agata Bolognese, Italy, with the objective of producing a refined grand touring car to compete with offerings from established marques such as Ferrari. The company’s first models were released in the mid-1960s and were noted for their refinement, power and comfort. Lamborghini gained wide acclaim in 1966 for the Miura sports coupé, which established rear mid-engine, rear wheel drive as the standard layout for high-performance cars of the era. Lamborghini grew rapidly during its first decade, but hard times befell the company when sales plunged in the wake of the 1973 worldwide financial downturn and the 1973 oil crisis. Lamborghini was subsequently sold to the Mimrams And The firm’s ownership changed three times after 1973 in the wake of the Oil Crisis and a Worldwide Finacial Downturn including a bankruptcy in 1978. the Mimrams finally sold Lamborghini to the Chrysler Corporation who took control in 1987. They replaced the Countach with the Diablo and discontinued the Jalpa and the LM002.
However Chrysler found themselvesUnable to operate Lamborghini profitably, so they sold Lamborghini to Malaysian investment group Mycom Setdco and Indonesian group V’Power Corporation in 1994. Sadly Lamborghini’s financial difficulties continued throughout the 1990s, until Mycom Setdco and V’Power sold Lamborghini to the AUDI AG subsidiary of Volkswagen Group on 27 July 1998. Audi’s ownership marked the beginning of a period of stability and increased productivity for Lamborghini. Sales increased nearly tenfold over the course of the 2000s, peaking with record sales in 2007 and 2008. Unfortunately The world financial crisis in the late 2000s negatively affected all luxury car makers worldwide, and caused Lamborghini’s sales to drop nearly 50 percent. Lamborghini’s Sant’Agata Bolognese production facility produces V12 engines and finished automobiles. Lamborghini’s current production vehicles are the V10-powered Gallardo and the V12-powered Aventador. Both production models are available in a variety of regular and limited-edition specifications as well as Roadster versions. Lamborghini also produce the Reventon and the Huracan, which is the replacement for the Gallardo plus a variety of Concept models.
In 1969 Lamborghini also founded a fourth company, Lamborghini Oleodinamica, but sold off many of his interests by the late 1970s and retired to an estate in Umbria, where he pursued winemaking. Lamborghini Sadly passed away on February 20, 1993 At 76 years, at Silvestrini Hospital in Perugia after suffering a heart attack fifteen days earlier. Lamborghini is buried at the Monumental Cemetery of the Certosa di Bologna monastery. Today all of Ferruccio Lamborghini’s companies continue to operate today in one form or another. His son, Tonino, designs a collection of clothing and accessories under the Tonino Lamborghini brand. Ferruccio’s daughter, Patrizia Lamborghini, runs the Lamborghini winery on his Umbria estate. A museum that honors Lamborghini’s legacy, the Centro Studi e Ricerche Ferruccio Lamborghini, also opened in 2001.