Slowdown? Not for this Automaker
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Monday, June 9, 2008
Economic slump? Manic market? Perfect time to expand your Lamborghini dealership!
It is, if you're taking the long view. And if you're selling to people wealthy enough to not really feel an economic downturn.
So it was that Lamborghini Washington opened its new Dulles showroom on Thursday night. Center stage was the new $245,000 Gallardo, surrounded by top-notch canapes, an open bar, assorted sleek-looking spokesmodels, several cases of Harry Winston jewels and a surprising number of repeat and potential buyers of one of the world's most adrenaline-pumping sports cars.
One such customer is Osama El-Atari, 29, owner of the Original Steakhouse chain of restaurants, having a drink while his Lambo Murcielago was being serviced. He also owns a Cadillac Escalade, a Rolls Royce Phantom, another Lambo, two Ferraris and two Mercedes. His auto insurance bill is $18,000 per month. "I have no other bad habits," El-Atari said. Besides, he added, "I drive my cars to work."
Osama El-Atari and his 2008 Lamborghini Murcielago.
Most Washington Lamborghini buyers are business people, typically entrepreneurs who "want to reward themselves for being successful," said dealership owner Allie Ash. He has very few tech industry customers or Washington Redskins, despite his dealership's proximity to the team's headquarters. "Unless you're a defensive back or maybe a wide receiver, you won't fit inside," said Ash, who also owns a newsletter company in Falls Church. The typical Lambo owner has a net wealth of $10 million.
Italy's Lamborghini, which is owned by Volkswagen, sold 2,400 cars worldwide last year, said Pietro Frigerio, chief operating officer of the company's North America operation. The company's three biggest U.S. markets are Southern California, Miami and the New York-Washington corridor. Lamborghini is expanding in luxury-mad China, which the company hopes will offset a 30 percent decline in U.S. profits, thanks to the weak dollar, Frigerio said.
The new Gallardo has upped its muscle to 560 horsepower while decreasing its carbon dioxide emissions. "We are not saying we are green," Frigerio cautioned. On the highway, a Lamborghini will get 18 miles per gallon. With the throttle mashed, as little as 6 mpg.
Lambos zoom about in the stratosphere of consumer sports car exotica, alongside Ferraris and Porsches. They are not for commuting or carrying groceries or saving fuel. The Gallardo can go from zero to 60 miles per hour in a head-snapping 3.7 seconds and tops out at 201 mph. Your Camry takes eight seconds to reach 60 mph, and it's a quick sedan.
Lambos are slightly out of a reporter's salary range. However, we do wrangle test drives occasionally. And I can report that the Lambo Superleggera, which I drove for about 10 minutes, cornered like it was on rails, to borrow a phrase. And that throaty roar when I hit the throttle? It was enough to make me forget about any matter so mundane as an economic slump.
Tagged: business, business_news, Dulles
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Almost, but not quite as obnoxious as Hummer drivers.
Posted by foobar2 (anonymous) on June 9, 2008 at 6:58 a.m. (Suggest removal)
Osama el-Atari ??
Sounds too funny to be real ...
Posted by OhTheHumanity (anonymous) on June 9, 2008 at 7:07 a.m. (Suggest removal)
I would like to know how a 29-year old has the funds to own a chain of resturaunts. Wealthy family???
Posted by kmccorma (anonymous) on June 11, 2008 at 1:22 p.m. (Suggest removal)
kmccorma,
Some people actually finish college in four years (or fewer) and get right to work building their dreams instead of going on the six-year booze binge plan and backpacking through Europe for a year then moving back in with their parents.
Howard Hughes founded Hughes Airgraft when he was 27.
Posted by foobar2 (anonymous) on June 11, 2008 at 1:55 p.m. (Suggest removal)
Osama el-Atari is a great guy! Very personable. He's the owner of the Original steak house in Broadlands!
Posted by mtaylor729 (anonymous) on July 15, 2008 at 1:09 p.m. (Suggest removal)
Moral of the story: Don't tip. The owner is obviously making so much money that he's generously passing it along to his front line.
...Right?
Posted by Hoqenishy (anonymous) on July 16, 2008 at 6:10 a.m. (Suggest removal)
kmccorma, Howard Hughes also inherited millions from daddy. That is not to take away from the ecentric's incredible achievements. He was able to found Hughes Aircraft because his daddy was a multi-millionaire. Ofcourse he in time became the world's richest man, however he never enjoyed it. He became a recluse suspicious of everything from germs to people.
Posted by jdavidbarber (anonymous) on March 9, 2009 at 9:52 a.m. (Suggest removal)
jdavidbarber: Why are you commenting on an atricle that's eight months old?
By the way, Mr. El-Atari is an auto DEALER, not an auto MAKER.
Posted by dingus3 (anonymous) on March 9, 2009 at 11:02 a.m. (Suggest removal)
I hear Mr.El Atari fled the country last month (April 09)wiping out millions from the operating accounts of his string of restaurants including the Steakhouse in Ashburn. True? I believe so... Just walk in there next time your in Ashburn and ask to speak to the owner (former silent partner and Redskin), Marvcus Patton who now is forced with debt and full ownership liability. I'm sure he'll be happy to explain why they had to bring back smoking into the place...
http://en.wikipedia.org/wiki/Marvcus_Pat... .
Another Ponzi?
Posted by nsp44l766 (anonymous) on May 27, 2009 at 10:36 a.m. (Suggest removal)
I guess he also likes to put his former counter terrorism officer friends in jail. wtf?
http://www.freerepublic.com/focus/f-news...
Posted by nsp44l766 (anonymous) on May 27, 2009 at 10:43 a.m. (Suggest removal)
nsp44l766: I would really like to know where you heard that he fled the country. I cannot find anything about it online.
Posted by transformer627 (anonymous) on June 1, 2009 at 7:26 p.m. (Suggest removal)
I'm happy to keep the anonymity of anyone who can confirm that he's left the country.
http://thebulletproofmonk.blogspot.com/2...
Posted by Bulletproof (anonymous) on June 17, 2009 at 3:52 p.m. (Suggest removal)
Its true he did leave the country
Posted by A713872 (anonymous) on June 29, 2009 at 2:17 p.m. (Suggest removal)
On or about June 18, I confirmed that he was in Jordan. That's where the cars are, anyway.
Posted by Bulletproof (anonymous) on July 17, 2009 at 8:28 p.m. (Suggest removal)
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