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Friday, November 7, 2008

Lamborghini Orange County Closes its doors - Owner ran afoul rather than sales slippage

The world's largest Lamborghini dealership has closed its doors recently due to yet undefined reasons. As first reported by The OC Register, Lamborghini Orange County in Southern California has padlocked its facilities indefinitely and has apparently stopped all car and parts sales, service and all other activities.

According to the report, Automobili Lamborghini has placed the blame on the dealership itself and not the economy.

"The financial stress Lamborghini Orange County is experiencing is due to several unfortunate business decisions made by management at Lamborghini Orange County, independently of Automobili Lamborghini," Lamborghini America COO Pietro Frigerio stated. "Many companies have felt an impact by the current economic situation, but the economy is not the reason for Lamborghini Orange County's financial situation. Though, the economy has exacerbated the situation."

Rumors spreading around the Web include the dealership's inability to secure a line of credit from the exotic carmaker's parent company, Volkswagen AG. Dealership owner Vik Keuylian once boasted that his dealership sold around 10% of all Lamborghinis made annually.

Lamborghini Orange County was established in 1994 and was well-known in celebrity and socialite circles. There was no word if Keuylian's other Lamborghini dealership in Northern California faces the same closure.

Source: The OC Register