Lambo OC closed in November. I'm handling some litigation on that front. Ten, maybe you can pick yourself up something at the fire sale.
Lamborghini O.C., largest dealer of exotic cars, closes
Automaker blames poor management, not economy, for demise.
By JOHN GITTELSOHN
The Orange County Register
The world's largest Lamborghini dealer, Lamborghini Orange County, has closed and owners aren't saying why.
"I can't talk about anything," said Vik Keuylian, owner of the Santa Ana-based dealership.
Keuylian previously said he sold about 10 percent of all 2,400 Lamborghinis made in the world each year. Lamborghini announced plans to move its North American headquarters to Santa Monica, in part, to be close to its largest dealership.
Automobili Lamborghini America said the dealer closed because of its own mistakes, 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," said Pietro Frigerio, chief operating officer of Lamborghini America.
"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."
In an interview this spring, when other auto dealers were suffering from the economic downturn, Keuylian said he continued to prosper.
"This April was better than April '07,? Keuylian told the Register. ?Other dealers are turning down cars and we?re picking them up and selling them at a profit.?
A spokeswoman for Volkswagen, which owns Lamborghini, would not answer a question about whether the company had pulled the line of credit Keuylian needed to keep cars on his showroom floor.
"While we don't comment about our business relationships with our dealerships, Volkswagen's credit business continues to remain strong," said Jill Bratina, a spokeswoman for Volkswagen Group of America.
At least nine Orange County auto dealers ? selling Chevrolets, Chryslers, Dodges, Nissans, Saturns and other brands ? have closed since January, brought down by sluggish sales and tight credit.
But Lamborghini Orange County is the most glamorous of the bunch. Customers included NBA stars Kobe Bryant and Dennis Rodman. The Keuylians threw promotional parties with celebrities such as Elton John and Sharon Stone. They helicoptered actors Eric Roberts and Luke Perry from Los Angeles to Orange County for a company party in April.
The Orange County dealership at 2441 S. Pullman St. in Santa Ana is now padlocked. The lot previously brimming with orange and lime 12-cylinder, $600,000 Murcielagos and Gallardos customized by designer Versace ? is vacant.
No sign explains the closure or tells customers where to go for repairs or how to pick up cars on order.
The answering machine on a phone at Lamborghini Calabasas, also owned by Keuylian, said it was not accepting messages. A recently opened Lamborghini showroom on West Coast Highway in Newport Beach also has closed. And Keuylian's plans for a lavish new showroom there never materialized.
Same for Lambo Calabasas:
Lamborghini Dealership Empty, New Owners on the Way
By Nadra Kareem - 12/8/2008
San Fernando Valley Business Journal Staff
A year ago Lamborghini Calabasas opened to much fanfare. The cast of the hit television show ?Heroes,? famed model Fabio and the Dixie Chicks? Natalie Maines, among many more, were on hand to witness the launch of the luxury car dealership.
Upon its grand opening, the 4,000-sq. foot-dealership in the 23800 block of Ventura Boulevard, just off the Parkway Calabasas exit on Interstate 101, had already sold 15 of the 80 cars in its fleet. Today, the dealership is empty.
Michael Haas, account director of Luxe Communications, the Beverly Hills-based public relations firm that represented the dealership, said that Lamborghini Calabasas isn?t closed for good but in the process of switching ownership. According to Haas, previous owner Vik Keuylian was suffering from financial troubles that resulted in him closing the dealership.
Keuylian, who said that he had more than 25 years of Lamborghini sales experience when the Calabasas dealership opened, also owned and ran Lamborghini Orange County with his three sisters, Astrid, Nora and Sossi. Two years ago, Lamborghini decided that Calabasas would be the site of a new dealership after conducting market studies on the city as well as nearby Agoura Hills and Westlake Village. In the end, Calabasas was considered to be the most attractive option because of the number of people moving into the community and the prosperity of the residents there, Lamborghini officials said. Additionally, Calabasas is home to other luxury automobile brands such as Mercedes-Benz, BMW and MINI dealerships.
Haas said that any day now Lamborghini is expected to announce who will take over the now vacant dealership. However, after having an initial conversation with the Business Journal about Lamborghini Calabasas, Haas did not return numerous messages left by the Business Journal for further information about the switch in ownership at the dealership.
Keuylian?s Lamborghini dealership in Orange County has also closed.
At one time, Keuylian had reportedly claimed responsibility for selling 10 percent of the 2,400 Lamborghinis unleashed worldwide annually. In April, Keuylian revealed no sign that his dealerships were in distress. Then, he told the Orange County Register, ?This April was better than April ?07. Other dealers are turning down cars and we?re picking them up and selling them at a profit.?
[quote author="tenmagnet" date=1229475979]Not only Detroit that?s hurting.
High end as well.
The Lambo dealership at the Palazzo is in trouble.</blockquote>
