Chrysler Acquires Italy’s Lamborghini Auto Firm

Chrysler Corp. today announced it is acquiring Lamborghini, the Italian manufacturer of high-performance automobiles.

“Both Lamborghini and Chrysler Motors will benefit greatly from today’s acquisition,” said Gerald Greenwald, chairman of Chrysler Motors, the No. 3 U.S. auto maker’s core division.

“Chrysler Motors will gain insight into the specialized craftsmanship and high-performance engineering that Lamborghini is so well known for,” Greenwald said.

Lamborghini, whose formal name is Nuova Automobili F. Lamborghini SpA, manufactures some of the most powerful cars sold in the United States, including the 12-cylinder Lamborghini Countach, which sells for about $127,000.

Chrysler did not disclose terms of the agreement. But the Detroit News quoted unidentified sources today as speculating Chrysler’s cash pay-out may amount to no more than $3 million.

Chrysler also is a partial owner of the Italian sports car manufacturer Maserati.

Lamborghini produces only about 450 vehicles a year.