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Automobili Lamborghini S.p.A. (Italian: [lamborˈɡiːni]) establishes itself as an Italian brand synonymous with luxury sports cars and SUVs based in Sant'Agata Bolognese and tractors Lamborghini Trattori in Pieve di Cento, Italy, operating under the watchful eye of the Volkswagen Group through its subsidiary Audi. Ferruccio Lamborghini, a pioneering Italian manufacturing magnate, founded Automobili Ferruccio Lamborghini S.p.A. in 1963 to challenge the status quo of established marques, including Ferrari. In 1966, the company solidified its reputation with the Miura sports coupÃ?, which redefined rear mid-engine, rear wheel drive as the benchmark for high-performance cars of its era. During its first decade, Lamborghini experienced exponential growth but was dealt a crippling blow by the 1973 global financial downturn and oil crisis. The company's ownership changed hands three times following 1973, culminating in a bankruptcy in 1978. Chrysler Corporation seized control of Lamborghini in 1987 before selling it to the Malaysian investment group Mycom Setdco and Indonesian group V'Power Corporation in 1994. By 1998, Mycom Setdco and V'Power transferred Lamborghini's ownership to the Volkswagen Group, placing it under Audi's stewardship. The brand expanded its product lineup with innovative new models and experienced increased productivity. However, the late 2000s saw Lamborghini confront a decline in sales of nearly 50 percent due to the worldwide financial crisis and subsequent economic downturn. Today, Lamborghini produces an impressive range of sports cars, including the Aventador powered by a V12 engine and the Huracán driven by a V10 powerplant. Additionally, the brand showcases its engineering prowess with the Urus SUV, propelled by a twin-turbo V8 engine, while also developing V12 engines for offshore powerboat racing.