De Tomaso Bankrupt Again image

De Tomaso, the well-known Italian sports car brand, has recently filed for bankruptcy.

After several months of struggling, uncertainties and the failure to secure a Chinese buyer, the company filed for bankruptcy. In 2009 former Fiat executive Gian Mario Rossignolo purchased the rights to the De Tomaso name after several years of bankruptcy of the original company. Rossignolo, his family and several investors were planning to launch three new De Tomaso models, including a crossover, a sedan and a new sports car.

Everything seemed to go according to the plan and the rejuvenated De Tomaso even unveiled at the 2011 Geneva Motor Show, the new Sport Luxury Sedan concept car. But this is where the company stopped with its promising plans.

The model that made De Tomaso famous is the Pantera sports car, built by the original company from 1971 to 1996. The model had a steel monocoque chassis and featured a 5.7-liter Ford Cleveland V-8 engine that offers a 330-horsepower. Ford was the one selling this model in the US through its Lincoln dealers. The model attracted many customers and even Elvis Presley bought one. The last Pantera was delivered to a customer in 1992.