Clean Carfax / Never Tracked on 2040-cars

Auto blog

Aventador sales drive record revenue at Lamborghini

Let it never be said that there isn't money to be made selling high-end exotic sports cars. Last month Ferrari revealed that it had recorded record profits despite selling fewer vehicles than the year before. Now arch-rival Lamborghini has reported record revenue.
For the 2013 fiscal year, Lamborghini has announced that its revenue has increased for the third year straight - rising from 469 million euros last year (just short of $650 million at today's rates) to a record 508 million euros (over $703 million). Lamborghini reports that it has reinvested 20 percent of that turnover back into R&D.
The increased revenues come despite having discontinued its top-selling model, the Gallardo, which wound up its ten-year production run back in November to make way for the new Huracán. The increased revenues came from a higher proportion of Aventadors sold, a rise of 9 percent from 922 units in 2012 to 1,001 in 2013, representing a record for V12 models sold in the company's history and a waiting list of 12 months for a new Aventador.

Justin Bieber arrested for possible DUI, drag racing [w/video, UPDATE]

Pop star Justin Bieber was arrested early this morning in Miami Beach, FL with TMZ.com listing his charges as including driving under the influence, drag racing, resisting arrest and driving on an expired license. TMZ says that Bieber was stopped for street racing his Lamborghini Gallardo, then failing a field sobriety test, and is being charged with resisting arrest for "refusing to take his hands out of his pockets."
It's also being reported that Bieber was racing against rapper Khalil (also arrested) who seems to have been driving a Ferrari 16M Scuderia Spider (although it was mistakenly called a "red Lambo" in the article). There is no additional information about the arrest of either men, but TMZ has obtained eyewitness video, which is posted below, that shows Bieber in his Lamborghini surrounded by fans and then later shows the car stopped by police officers.
UPDATE: As it turns out, the cars in question didn't actually belong to either Bieber or Khalil. We just received an email that indicates that both the Ferrari and the Lamborghini involved in the incident were rentals. The president of Lou La Vie, an exotic car rental outfit in Miami, is claiming ownership of both vehicles, though didn't provide any other significant information regarding the case.

Why Italians are no longer buying supercars

Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their registrations and checking their incomes. When it was found that a rather high percentage of exotic toy owners had claimed a rather low annual income - certain business owners were found to be declaring less income than their employees - the owners began dumping their cars and prospective buyers declined to buy.
Car and Driver has a piece on how the initiative is hitting the home market the hardest. Lamborghini sold 1,302 cars worldwide in 2010, 1,602 cars in 2011 and 2,083 cars in 2012 - an excellent surge in just two years. In Italy, however, it's all about the ebb: in 2010, the year that Italian police began scouring harbors, Lamborghini sold 96 cars in Italy, the next year it sold 72, last year it sold just 60. The declines for Maserati and Ferrari are even more pronounced.
Head over to CD for the full story and the numbers. What might be most incredible isn't the cause and effect, but where the blame is being placed. A year ago the chairman of Italy's Federauto accused the government of "terrorizing potential clients," this year Luca di Montezemolo says what's happening has created "a hostile environment for ­luxury goods." Life at the top, it ain't easy.