DeTomaso closing it's doors.
 

I heard from someone in Modena that last Tuesday, DeTomaso decided to close. Anyone else heard these rumors?

No, I have not. While it wouldn't absolutely shock me if they did, I must say I'd be surprised. They've been talking about building a new factory for a while now, to build an SUV for the Russian market. With that money was to fund a new Vallelunga project, and from that a new Pantera. DeTomaso talks a bigger game though, as right now the only thing they've done in the past several years is build some Guaras (maybe 30-40).

I'm afraid it's true.
It didn't last long without the old man.

Murph

Well, that's what some people are saying on the Pantera email list today too. But, I've yet to see any press releases or news stories on this at all. I can't figure out where people are hearing this.

As of right now, I'm calling BS on this.

I can't find a lick of backup to this either... and I've searched, baby.

Ok, here's the deal. Yes, I found an article saying DeTomaso is in liquidation. But the word out there is that this is a strategic move by DeTomaso SpA. Probably something to do with taxes or something, and would not be out of character for this company. Time will tell, but I'm not giving up hope yet. Here is the article (in Italian):

http://www.repubblica.it/2004/e/moto...todetomas.html

You can use Babel Fish to translate the page: http://world.altavista.com/

Yah I kind of figured it had to happen sooner than later. The family was simply not making any money on the car side of things. Their main money has been office space and other real estate for years.

I would also not be surprised if Mrs.. Detamso moves back to her West Palm Beach estate permanently. It's probably easier for her to breed and show her show dogs here than in Italy.

Well, people have been saying DeTomaso was going to fold anyday for decades now, and they've continued to survive. The word from the factory is "we know what we are doing", not to worry. They have not cancelled the July DeTomaso gathering at the factory either, and say it is still on.

It is true. Here is a email received today:

Hello DeTomaso enthusiast, There is bad news out today.

Tom Tjaarda and Claudia Lodi have both emailed me and confirmed DeTomaso Modena filed for liquidation yesterday. Here is Tom's email:

DAVE;

Just talked to Claudia Lodi and she confirmed that the company will be put into liquidation. She was rather upset over this decision naturally but said that they will keep the name and sell off the property etc. Perhaps in the future try to downsize the operation. The 4x4 off-road vehicle remained in the prototype phase and never obtained production statis.

I offered what assistance might be possible in the future, because I sincerely think that the name and marque has an interesting possibility to continue with investors that understand the possibilities to create a new model DeTomaso, at a contained cash outlay.

Also, late last night Umberto Agnelli passed away. This is yet another blow to the Fiat Company.

DeTomaso will go ahead with their plans on the 5th of July and look forward to seeing you.

TOM

Dear Dave,

we have to confirm to you that De Tomaso factory has been put into liquidation.

We do not know at the moment what will happen in the future but every doubts should be solved during the meeting by the Family.

Best regards.

Claudia

De Tomaso Modena Spa In Liquidazione
Viale Virgilio, 9
41100 Modena
www.detomaso.it

Yep, I got that one too. There are some conflicting stories coming out of Modena. I think right now it's a watch and wait situation, to see what really comes about, but this does sadden me. DeTomaso may not have been mega-active these past 10 years or so, but it was always nice knowing they were there, and I do like the Guara. If this is really the end of DeTomaso, then it's the last of the old small Italian car companies.

Matt,

So you are going to Modena in July? Have you booked your room at the Canal Grande? I suggest booking one of the two Jr. Suites overlooking the gardens.

No, I wish. No doubt it would be a blast. I do have a friend that went to vacation in Ravenna for summer in 2000, to learn Italian, and never came back (married and has a kid over there now). At some point I'm going to have to go over there and see him, and get on down to Modena.