De Tomaso Files for Bankruptcy

De TomasoDe TomasoItaly, 1959 > present10 models
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has filed for bankruptcy yet again, and this time it appears the company is truly dead. If your first thought was, 'Wait, De Tomaso still makes cars?' you are not alone. The company was liquidated in 2004 and purchased by businessman Gian Mario Rossignolo in 2009 who also bought the old PininfarinaMohsUnited States of America, 1967 > 19791 model
factory in 2011. He intended to revive the company. 

The company had one current model, a luxury SUV called the Deauville. It was first shown at the 2011 Geneva Motor Show. It used a 2.8 liter turbocharged engine from OpelOpelGermany, 1863 > present85 models
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with 300hp, an Opel six-speed automatic transmission and all-wheel drive. A more powerful version with 500ps from a VolkswagenVolkswagenGermany, 1938 > present98 models
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-sourced V8 was planned but never produced. It is unclear if De Tomaso ever finished any production versions of the Deauville. According to news from the Italian auto magazine Quattroroute, the rights to the truck were sold to an unnamed Chinese company for €12 million in January 2012. 

De Tomaso's best times were in the 70s. Alejandro de Tomaso began has a racing driver in the 50s but moved to Modena, Italy, in 1959 to found the company that would bear his name. He built grand prix racing chassis, and his first street car was the VallelungaDe Tomaso VallelungaItaly, 1963 > 19682 versions
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in 1963. They used a 1.5 liter FordFordUnited States of America, 1903 > present92 models
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four-cylinder engine from a CortinaFord CortinaUnited Kingdom, 1962 > present1 photo
with a Volkwagen BeetleVolkswagen BeetleGermany, 1938 > 200339 versions
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transaxle. Performance was not fantastic and just 53 were made, but it proved the concept of future mid-engine, rear-wheel drive cars from De Tomaso. 

The company's next car was the significantly better MangustaDe Tomaso MangustaItaly, 1966 > 19712 versions
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in 1966. Power stuck with Ford, but to a 4.7 liter V8 and later a 4.9 liter V8. The name Mangusta, which is Italian for mongoose, was meant to be a shot at the Shelby CobraAC Shelby Cobra 427 'Flip...United Kingdom, 1964 > present2 photos
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because Mongooses eat Cobras. Perhaps the Mangusta was prettier, but it was never a threat to the Cobra. 

The MangustaDe Tomaso PanteraItaly, 1970 > 19915 versions
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was replaced by the Pantera in 1971, and De Tomaso kept updating he car through 1991. They were even imported and sold through Ford dealers in the US from 1971 until 1975. Power came from a variety of tunes of Ford's 5.7 liter Cleveland V8. Early cars had 330hp, and the last ones had about 500hp. After sales in the US ended, the Pantera was still available in Europe. About 7,200 Panteras were built making it their most popular model. 

In 1975, De Tomaso bought MaseratiMaseratiItaly, 1914 > present62 models
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from CitroënCitroënFrance, 1919 > present94 models
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with financial help from the Italian government. It run the company until 1993 when Maserati was purchased by FiatFiatItaly, 1899 > present159 models
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. 

That was basically the beginning of the end for De Tomaso. It tried to revive itself during the 90s but was unable, which eventually led to the 2004 bankruptcy. 

Source: Autoblog UK