7/27/2023 0 Comments Gearcity ideal dealership![]() ![]() When 1980 hit however, Lotus was following its acronym to a ‘T’, finding itself in serious financial trouble and hardly producing any cars. Chrysler would sell Lamborghini to Malaysian investment group Mycom Setdco and Indonesian group V’Power Corporation in 1994, before finally passing it to Volkswagen in 1998. In 1987, Lamborghini infamously became the property of Chrysler, which saw the introduction of the Diablo, and also the joint-venture development of the Dodge Viper. The brand would not go bankrupt again, but it would be passed around several times. The company went bankrupt in 1978, and was placed in the receivership of brothers Jean-Claude and Patrick Mimran in 1980, who were able to bring the car out of receivership by 1984 by introducing vehicles like the Jalpa and the LM002 SUV. In 1974, Georges-Henri Rossetti and René Leimer bought the company from Ferruccio, allowing him to retire after only 11 years with his own brand. In 1973, the oil crisis pretty much ended the world’s desire to drive thirsty supercars, an urge Lamborghini had been capitalizing on with its V12 engines. In 1972, Brown paid off all of the brand’s debts to the tune of 5 million pounds, but ended up in receivership again in 1974 after the oil crisis in the United States imposed impossible emissions restrictions. 1947 would be the year that David Brown would buy the brand, and start his iconic series of “DB” cars. In 1932, the brand went bankrupt for the third time it was rescued by Lance Prideaux Brune before he passed it on to Sir Arthur Sutherland. ![]() Martin left in 1925 at the same time, and the company was transferred to its investors and renamed Aston Martin. The brand first went bust in 1924 when it was still owned by Lionel Martin, and then again in 1925. Unfortunately, even with all its successes, Aston Martin has gone bankrupt seven times since it was first incorporated in 1913. This storied British brand has seen much success in its 107-year history, whether it be with its racing cars or its street cars, which have become synonymous with a famous fictional spy. Here are four car companies that can’t keep out of the red.Īston Martin - bankrupted 7 times since 1913 This advertisement has not loaded yet, but your article continues below. ![]()
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