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Why Italians are no longer buying supercars

Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their registrations and checking their incomes. When it was found that a rather high percentage of exotic toy owners had claimed a rather low annual income - certain business owners were found to be declaring less income than their employees - the owners began dumping their cars and prospective buyers declined to buy.
Car and Driver has a piece on how the initiative is hitting the home market the hardest. Lamborghini sold 1,302 cars worldwide in 2010, 1,602 cars in 2011 and 2,083 cars in 2012 - an excellent surge in just two years. In Italy, however, it's all about the ebb: in 2010, the year that Italian police began scouring harbors, Lamborghini sold 96 cars in Italy, the next year it sold 72, last year it sold just 60. The declines for Maserati and Ferrari are even more pronounced.
Head over to CD for the full story and the numbers. What might be most incredible isn't the cause and effect, but where the blame is being placed. A year ago the chairman of Italy's Federauto accused the government of "terrorizing potential clients," this year Luca di Montezemolo says what's happening has created "a hostile environment for ­luxury goods." Life at the top, it ain't easy.

Volkswagen Group names Paefgen head of classics program

You may remember the name Franz-Josef Paefgen. Until recently, the German engineer and executive was head of both Bentley and Bugatti. Before that he was chief executive of Audi, after working for several years at Ford. He technically "retired" earlier this year, but like the cars he helped create, an executive like Paefgen could never really retire. So it should come as little surprise that the Volkswagen Group has named Dr. Paefgen head of its Classic program.
In his new capacity, Paefgen will oversee the historic automobile activities of the entire VW Group, including those of Volkswagen, Seat, Skoda, Audi, Lamborghini, and of course Bentley and Bugatti. It strikes us as a suitable semi-retirement for the man responsible in no small part for the Bugatti Veyron and Bentley Mulsanne, to name just two, and who was decorated in 2006 by the ACO as the "Spirit of Le Mans" for his contribution to endurance racing. Read the official announcement after the break.

Lamborghini bringing exclusive supercar to Pebble Beach

The latest rumors emanating from the House of the Raging Bull say that Lamborghini is planning another million-dollar, ultra-exclusive supercar. Lambo is tipped to bring it to Pebble Beach next month, but it won't be showing it to the general public. Lamborghini has a proud recent history of turning its flagship supercars into something even more desirable. You'll remember the Reventon that was based on the Murcielago previewed the Aventador and was offered in a limited run of 20 coupes and 15 roadsters with a seven-figure price tag. The Bolognese automaker followed up with the Veneno, an even more extreme take on the Aventador. Three coupes and nine roadsters were sold, with prices exceeding $4 million. (There was the Sesto Elemento, but that was a smaller 10-cylinder model.) According to Motor Trend, this latest creation is expected to be based on the 12-cylinder Aventador, with more adventurous styling and likely a more powerful engine. You can bet it'll be produced in small numbers and command a seven-figure price tag. Production is likely to take place at the company's dedicated prototype development center that was opened three years ago. Now if you're wondering what's the point of bringing a new car to a public show if you're not going to show it to the public, consider that the public isn't the only ones that will be in attendance for the Monterey extravaganza. Some of Sant'Agata's top clients will also be on hand, and it's to those individuals that Lamborghini will be showing its latest creation. Lambo's been known to hold private previews in the past, and cameras were not allowed the last time this writer was invited to such an event. But that concept was unveiled to the public at a major auto show the following month, so here's hoping whatever Lamborghini is bringing to Pebble Beach will find its way onto the stage in Frankfurt come September as well. Related Video: Featured Gallery Lamborghini's Limited-Edition Supercars News Source: Motor TrendImage Credit: Lamborghini Misc. Auto Shows Lamborghini Supercars Pebble Beach