Tuesday 10th July 2012

De Tomaso goes bankrupt

Almost-reborn sports car maker goes belly-up (once again)

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A reborn Pantera will have to wait (again)

De Tomaso has gone bankrupt (again), after failing to raise the cash to build the three-car range announced last year.

Unless a buyer can be found, it looks certain to bring to an early close the latest chapter in the Italian sports car maker's volatile history after the company was revived in 2009.

Deauville SUV wasn't the prettiest

The Italian buyer had promised sink £92 million into restoring the brand famed for its Mangusta and Pantera muscle coupes of the sixties and seventies.

The rebirth started well. De Tomaso rented a factory off Pininfarina to build its planned 8000 cars, split between a coupe, a saloon and a crossover. The latter, called the Deauville, made its debut in concept form at the Geneva motor show last year with the promise of petrol V6 turbo power and blandly attractive looks.

It was a mainly positive rebirth for a brand that had last appeared at Geneva in 2002 with a revived Mangusta, aka the Bigua. This unhappily proportioned car was eventually rebadged Qvale after American investor Bruce Qvale squabbled with company founder Alejandro de Tomaso.

It looked a lot better after MG took over the Italian operations in 2001 and restyled it as the SV. Unfortunately, we all know what happened then. De Tomaso itself went into liquidation in 2004.

MG SV was fruit of a previous incarnation

The company was originally born when Argentine-Italian racing driver Alejandro De Tomaso set up shop in Modena in 1959, four years before Feruccio Lamborghini opened for business just down the road.

The first road-going sports car, the Vallelunga, was powered by a 1.5-litre Ford Cortina engine, but for the stunning Mangusta (Mongoose) and Pantera (Panther) that followed, the company turned to Ford V8s from the States.

Super-salesman Alejandro even managed to persuade Ford to stock Panteras in its US showrooms from 1971, but the dramatic coupe was heavily criticized for its safety standards and Ford pulled the plug in 1974. The cars continued to be built right up until 1993, however, and it remains a performance icon.

As for the badge, it is surely far too steeped in marketable heritage to die. Before the bankruptcy, a Chinese investment group called Hotyork was in talks to buy De Tomaso and, as we've seen with MG and Saab, the Chinese do prefer to wait until after the firm has gone into administration...

[rtz62]

De Tomasa gone breasts-up? There's a surprise......

[Dodgey_Rog]

A shame, but then looking at that monstrosity they tried to bring to market, its hardly surprising. For me, the Pantera was the epitome of the 70's muscle car, my father became one of the few UK dealers for them in the 70's, it was a shame they never went with the concept that draw up more recently, that was a suitable successor to the original.

Here's hoping someone sees sense and picks up the pieces and brings it back!

[PUA]

I'm sure they'll be reborn again soon enough, my favourite - the pantera GT

[fat freddie]

I assumed they'd gone under years ago. The Pantera's OK, but this is my fave DeTomaso of all....

[MX7]

I'm actually quite pleased. The newest offerings were hideous, and didn't carry any of the heritage from years gone by, so I'd be happier to see the De Tomaso brand getting put back in cryonic suspension for another 10 years, with the hope that the next owner has a better understanding.

[Wadeski]

Trying to be a modern, competitive supercar manufacturer was a silly idea anyway. Its not as if that market is wanting for players...

The smart move would be to be a Caterham or a Shelby, and make continuation Panteras with crate V8s and modern suspension, brakes & electronics.

Plus you get to supply parts to owners of the vintage cars, and build your heritage.

[soad]

fat freddie said:

I assumed they'd gone under years ago. The Pantera's OK, but this is my fave DeTomaso of all....

Mangusta.

[blackcossiestu]

PUA said:

I'm sure they'll be reborn again soon enough, my favourite - the pantera GT

My old bosses car that one!

[Ninjaboy]

It's getting abit wearing now with the China waiting around for companys to go bump before buying they and sticking a good badge on cheap rubbish.

Edited by Justayellowbadge on Tuesday 10th July 18:53

[Black S2K]

soad said:

fat freddie said:

I assumed they'd gone under years ago. The Pantera's OK, but this is my fave DeTomaso of all....

Mangusta.

Mine too.

On one hand it's saddening that they've gone, but OTOH, did anyone (management included) seriously expect a different outcome?

[anonymous-user]

They've been up for sale since early May. I didn't see a PH news story at the time so I posted it in general gassing.

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

[anonymous-user]

Is De Tomaso really a Viable and more importantly Valuble brand in 2012? I can't see it myself, certainly not in the UK?

[Ex Boy Racer]

blackcossiestu said:

PUA said:

I'm sure they'll be reborn again soon enough, my favourite - the pantera GT

My old bosses car that one!

You work for Harrison Ford??? Come on... that has to be a joke!

[blackcossiestu]

Ex Boy Racer said:

You work for Harrison Ford??? Come on... that has to be a joke!

I currently work for T.C.Harrison, Ford....a Ford dealership. This Pantera belongs to Roger Coates, my first employer.

[BlackCup]

soad said:

Mangusta.

Such a striking car, 'Bill' of 'Kill Bill' drives one in part 2, or at least has it behind him in a scene in the valley.

[MitchT]

fat freddie said:

I assumed they'd gone under years ago. The Pantera's OK, but this is my fave DeTomaso of all....

Beautiful thing.

[yeti]

blackcossiestu said:

This Pantera belongs to Roger Coates, my first employer.

It does indeed - just come back from holiday with him and the DeTomaso Club. He took... his classic Mini and did track laps in it a CLM as well

[blackcossiestu]

yeti said:

It does indeed - just come back from holiday with him and the DeTomaso Club. He took... his classic Mini and did track laps in it a CLM as well

I had a nosey around what seemed to be the French leg of the DeTo club, on display at LMC, some nice examples there. Didnt see the little Mini convertable on track...but to be honest I didnt watch much of the parade laps at all.

[Luca Brasi]

Can't feel sorry. The real De Tomaso died a long time ago.

[Major Fallout]

De Tomaso Pantera

Beautiful name, I just love saying it.