BMW News
Italian sports car manufacturer De Tomaso has had a rough year, Motor Authority reports. But there could be a good fairy on the horizon, in the form of BMW.
In February, it looked like De Tomaso had found a Chinese buyer, and that the De Tomaso SLS sports sedan could soon begin construction at a former Pininfarina plant outside of Turin.
Then the deal with Car Luxury Investment, backed by Chinese investment group Hotyork, fell through, and in July, De Tomaso filed bankruptcy. That was quickly followed by the the arrest of DeTomaso chairman Gian Mario Rossignolo on charges of improper use of funding.
Since then, the courts have been trying to find a buyer for De Tomaso, and while several companies have expressed interest, no deal has been finalized. Prior to De Tomaso’s bankruptcy, BMW was said to be in dialogue with the ailing Italian automaker, a rumor the German company quickly dismissed.
But there's more: Now comes word from Automotive News Europe that BMW is in talks to buy the De Tomaso brand, while Italian companies are disussing buying its structural assets. BMW has issued no comment on the report.
BMW is among several finalists reportedly vying for the brand, and a sale process could begin next month. With Volkswagen-Audi having bought Lamborghini and Ducati, maybe Europe's automotive strong men are looking for boutique brands to fill niche markets.––Paul Duchene
Then the deal with Car Luxury Investment, backed by Chinese investment group Hotyork, fell through, and in July, De Tomaso filed bankruptcy. That was quickly followed by the the arrest of DeTomaso chairman Gian Mario Rossignolo on charges of improper use of funding.
Since then, the courts have been trying to find a buyer for De Tomaso, and while several companies have expressed interest, no deal has been finalized. Prior to De Tomaso’s bankruptcy, BMW was said to be in dialogue with the ailing Italian automaker, a rumor the German company quickly dismissed.
But there's more: Now comes word from Automotive News Europe that BMW is in talks to buy the De Tomaso brand, while Italian companies are disussing buying its structural assets. BMW has issued no comment on the report.
BMW is among several finalists reportedly vying for the brand, and a sale process could begin next month. With Volkswagen-Audi having bought Lamborghini and Ducati, maybe Europe's automotive strong men are looking for boutique brands to fill niche markets.––Paul Duchene
