Ferruccio Lamborghini was born in Renazzo, a village near Bologna, on 28th April 1916. His parents were farmers, but Ferruccio's interest was in technology and mechanics. After completing his technical studies in Bologna, his abilities were put to the test when he was placed in charge of vehicle maintenance in Rhodes during World War II.
On his return to Italy, he started purchasing old military vehicles and converting them into tractors, meeting the significant post-war demand for such machinery. His commercial success resulted in the purchase of a workshop in Cento where, from 1948 onward, Lamborghini tractors were produced. By 1959, Lamborghini was also producing burners and air conditioning units.
Now with some financial security, Ferruccio embarked on his life-long ambition of producing helicopters, but when the Italian government refused to grant him a license he made the decision to turn his attention to cars. The automotive world was never the same again.
Ferruccio Lamborghini opened a car factory in Sant' Agata in 1963, delivering the first Lamborghini, a 350 GT in 1964.
From then until 1972, the company grew at a steady rate, with the only limiting factor the launch of new cars which slowed down production capacity. However, in 1972, a combination of general world recession and the oil embargo saw a drastic sales reduction and Ferruccio was forced to sell 51% of the company to a Swiss businessman, Georges-Henri Rossetti. In 1974, he sold the remaining 49% shares to a friend of Rossetti, Rene Leimer. The new shareholders did not have day to day involvement in the company and were reluctant to invest, and Automobili Lamborghini struggled to meet financial demands.
On his return to Italy, he started purchasing old military vehicles and converting them into tractors, meeting the significant post-war demand for such machinery. His commercial success resulted in the purchase of a workshop in Cento where, from 1948 onward, Lamborghini tractors were produced. By 1959, Lamborghini was also producing burners and air conditioning units.
Now with some financial security, Ferruccio embarked on his life-long ambition of producing helicopters, but when the Italian government refused to grant him a license he made the decision to turn his attention to cars. The automotive world was never the same again.
Ferruccio Lamborghini opened a car factory in Sant' Agata in 1963, delivering the first Lamborghini, a 350 GT in 1964.
From then until 1972, the company grew at a steady rate, with the only limiting factor the launch of new cars which slowed down production capacity. However, in 1972, a combination of general world recession and the oil embargo saw a drastic sales reduction and Ferruccio was forced to sell 51% of the company to a Swiss businessman, Georges-Henri Rossetti. In 1974, he sold the remaining 49% shares to a friend of Rossetti, Rene Leimer. The new shareholders did not have day to day involvement in the company and were reluctant to invest, and Automobili Lamborghini struggled to meet financial demands.
1977 was a difficult year due to strategic mistakes, with Lamborghini over-investing in an off-road vehicle with no prospect of sales, as well as undervaluing a contract with BMW for the production of a small series of sporting cars, an agreement that was annulled by the German company in 1978. Lamborghini was unhappily forced into receivership by the Bologna court.
Fortunately the company was entrusted to Alessandro Artese, a Bolognese expert in commercial law and a car enthusiast. Together with sales manager Sgarzi, and the help of technical director Giulio Alfieri, they managed to pull Lamborghini through a difficult time whilst searching for new shareholders.
The company never closed down, thanks to the determination of its employees, the passion and loyalty of its clients and the support of its distributor. In 1980 the Bologna Court sold the company to the Mimran brothers, food industry tycoons recognised for their passion for cars, and who started investment in plant, new products and the search for a skilled workforce.
Fortunately the company was entrusted to Alessandro Artese, a Bolognese expert in commercial law and a car enthusiast. Together with sales manager Sgarzi, and the help of technical director Giulio Alfieri, they managed to pull Lamborghini through a difficult time whilst searching for new shareholders.
The company never closed down, thanks to the determination of its employees, the passion and loyalty of its clients and the support of its distributor. In 1980 the Bologna Court sold the company to the Mimran brothers, food industry tycoons recognised for their passion for cars, and who started investment in plant, new products and the search for a skilled workforce.