The Rearview Mirror: Chrysler Buys a Bull
Lamborghini Muiras and V-12 engines seen at the Lamborghini factory. It was a headline that must struck many supercars aficionados as unlikely, but nonetheless, there it was. This week in 1987, Chrysler buys financially ailing Lamborghini for $25.3 million as Chrysler CEO attempts to infuse Chrysler with the panache of Italian luxury. Certainly Chrysler executives was thrilled; they could now drive Lamborghinis as company cars. “We paid next to nothing for the company; they were virtually broke and produced only 300 cars per year” wrote Bob Lutz in his book, “ Icons and Idiots .” The move came after General Motors bought England’s Group Lotus the year before. Glamorous, not profitable Lee Iacocca bought Lamborghini hoping its panache would rub off on Chryskler. But Lamborghini was mired in debt as it had fallen victim to an ever-changing roster of owners. But the world-famous Italian sports car manufacturer was too tempting a jewel to let slide into bankruptcy. And Chrys