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Texas man gets prison for buying Lamborghini with Covid funds

A Texas man who spent coronavirus relief funds to feel a little less bored during lockdown is staring down a nine-year prison term after pleading guilty to wire fraud and money laundering. Lee Price III finagled more than $1.6 million in low-interest relief loans, the Associated Press reports, which he spent to pay off a mortgage and buy a couple of cars: an $85,000 Ford F-350 and and Lamborghini Urus.  According to the Houston Chronicle, Price's scheme involved funneling a little under $1 million through each of two of his businesses (Price Enterprises Holdings and 713 Construction), both of which Price claimed had large payrolls that needed to be covered using emergency funds from the Paycheck Protection Program (PPP). While these were ostensibly loans, they were structured to be forgiven if the funds were distributed within 10 calendar days and the borrower applied for forgiveness within 10 months of taking the loan. Provided those criteria were met, it was essentially free money to cover payroll. Price's employees, however, did not exist.   You'll be forgiven for thinking you've heard this story before. Coronavirus really seemed to bring out the Lamborghini fans. A California man was accused of adding one to his garage (along with a Ferrari and Bentley) and plead not guilty earlier this year to charges that he scammed more than $5 million from the PPP. Last year, a Florida man's scheme to defraud the same program was undone by a hit-and-run accident in the blue Lamborghini Huracan Evo he bought with the proceeds. 

Lamborghini and Bentley rack up record sales in 2022

Sister companies Lamborghini and Bentley independently announced that they set a sales record in 2022. Both firms posted a big increase in deliveries, and their announcement comes shortly after Bugatti and Rolls-Royce released their own record-breaking 2022 sales figures. Lamborghini delivered 9,233 cars in 2022, an increase of 10% over 2021 (which was a record year as well). Its best-selling model is the Urus, which accounted for 5,367 deliveries (a 7% increase over 2022). That's not surprising; SUVs sell well. What's rather stunning is that Huracan deliveries soared by 20% to 3,113 examples in 2022. Finally, Lamborghini delivered the last 753 examples of the Aventador. Geographically, the United States remains Lamborghini's biggest market; the company delivered 2,721 cars there in 2022 (an increase of 10% over 2021). China takes second place with 1,018 deliveries (up 9%) followed by Germany (808 cars; up 14%), the United Kingdom (650 cars; up by 15%), and Japan (546 cars; up 22%). All told, deliveries in the EMEA region(Europe, Middle East and Africa) jumped by 7% to 3,484 cars. The company's outlook for 2023 is bright. It will notably unveil the Aventador's hotly-anticipated successor, and the yet-unnamed model will stand out as its first series-produced hybrid model. Its historic factory in Sant'Agata Bolognese, Italy, will keep busy as well. "We now have the opportunity to focus on our next objectives also thanks to an 18-month waiting list," said company boss Stephan Winkelmann. While it's too early to tell if 2023 will be another record year for Lamborghini, executives stress that they want to keep the company's growth in check. The aim isn't to rival, say, BMW in terms of volume. "The idea will always be to have one car less than demand," Andrea Baldi, the head of the Americas region for Lamborghini, told Autoblog in 2022. "We will never become unexclusive. That is a promise." Bentley is celebrating for many of the same reasons: It sold 15,174 cars in 2022, an increase of 4% over 2021 and its first annual result above the 15,000-unit mark. Here again, there are some interesting surprises hidden in the numbers. Its best-seller was the Bentayga, it represented 42% of the firm's sales, and 2022 was the big SUV's most popular year — that's an impressive feat for a car released in 2015. The Continental GT range represented 30% of sales and the Speed variant accounted for 31% of those. The Flying Spur represented the remaining 28%.

Lamborghini hopes to keep combustion engines alive beyond 2030

FRANKFURT — Volkswagen's supercar brand Lamborghini is looking to keep combustion engine vehicles alive beyond the end of the decade, the unit's Chief Executive Stephan Winkelmann told a German weekly newspaper. "After hybridization, we will wait to see whether it will be possible to offer vehicles with an internal combustion engine beyond 2030," he told Welt am Sonntag. "One possibility would be to keep combustion engine vehicles alive via synthetic fuels." Winkelmann last month said Lamborghini planned to roll out its first fully electric model at the end of this decade, underscoring a more cautious approach after comments last year that a release was planned for second half of the decade. Lamborghini, as well as key rivals Ferrari, Aston Martin Lagonda and McLaren, are wrestling with how to shift their ranges to battery power without losing the high performance that supports their premium pricing. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.