Now this should have rung an alarm bell or two at the time, but it seems it didn’t.
Back in November the world’s largest Lamborghini dealership – Lamborghini Orange County – turned up its toes and closed the doors, apparently a victim of the downturn in car sales. Not the oddest story in these times admittedly, but a bit odd when you consider that Lamborghini OC was reckoned to be responsible for 10% of Lamborghini’s sales worldwide, shifting around 240 cars a year.
There were rumours at the time that the boss of Lambo OC, Vik Keuylian, had taking a big hit on the SoCal housing market crash, but it was only rumour.
But the story has now unfolded a bit more, with the news that VW are suing Keuylian and his family for some $12 million, relating to finance provided in an 8 day period for cars they sold, which VW claims they ran off with. Outright Theft is the phrase used. Ouch.
But not just a few cars. 54 Lamborghinis, to be precise. Surely, with an average of just 5 cars a week being sold, a 10-fold jump in car sales, at bargain prices over an eight day period, should have set alarm bells ringing. But it didn’t. Maybe VW / Lamborghini were blinded by the coup of such huge sales in difficult times. Who knows.
But it looks like VW are going to be left holding a $12 million debt as the dealership financed the cars through VW Credit.
Apparently there are more law suits flying around in the Keuylians direction. It looks like it will probably be a case of pi**ing in the wind!