On this day 1987 Chrysler Corporation purchased Lamborghini for an estimated cost of $25 million. At the time, the luxury automaker was experiencing financial difficulty under the ownership of the Mimram Brothers.
Above: Lamborghini 350 GT, produced 1964 to 1966Top: 1990 Lamborghini Diablo. By Mr.choppers - Own work, CC BY-SA 3.0
Ferruccio Lamborghini founded the sports car company in 1963 after, as legend has it, he experienced mechanical issues with his Ferrari. To remedy the issues, he made an attempt to meet with Enzo Ferrari, that car company’s founder. After being turned away, Ferruccio, who had already made a fortune in the sale of tractors and air conditioners, set out to build better, faster cars. His efforts led to the development of the first Lamborghini, the 350 GTV,...