Modern Cars

The breath-taking Lamporghini Aventador

The history of the automobile typically begins as early as 1769, with the creation of steam engined automobiles capable of human transport. In 1806, the first cars powered by an internal combustion engine running on fuel gas appeared, which led to the introduction in 1885 of the ubiquitous modern gasoline- or petrol-fueled internal combustion engine. Cars powered by electric power briefly appeared at the turn of the 20th century, but largely disappeared from use until the turn of the 21st century. The early history of the automobile can be divided into a number of eras, based on the prevalent means of propulsion. Later periods were defined by trends in exterior styling, and size and utility preferences.

Manufacturing magnate Ferruccio Lamborghini founded Automobili Ferruccio Lamborghini S.p.A. in 1963 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.

The magnificent Lamborghini Pagani Zonda

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. The firm's ownership changed three times after 1973, including a bankruptcy in 1978, before Chrysler Corporation took control in 1987. Unable to operate Lamborghini profitably, Chrysler sold Lamborghini to Malaysian investment group Mycom Setdco and Indonesian group V'Power Corporation in 1994. Lack of success continued through 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. 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.