Luxury car manufacturer Isdera has filed for bankruptcy. This was reported by Bild, which also said that the bankruptcy petition was filed with the Saarbrücken District Court on April 11.
Founded in Leonberg, West Germany in 1982, Isdera (I ngenieurbüro für S tyling, De sign und Racing) specializes in small-scale production of high-quality luxury cars.
As an example of the high value of Isdera's products, the publication cites the Commendatore 112i model, which was sold at auction in 2021 year for 1.2 million euros.
An interesting detail is that each Isdera sports car is handmade by a small team of craftsmen. Each vehicle is custom-made for its original buyer.
The company has long been experiencing financial difficulties, having been on the verge of bankruptcy more than once. In 2017, Isdera entered into a partnership with the Chinese electric vehicle startup WM Motor, but this apparently did not help either.
In 2021, the German brand Isdera was fully acquired by the Chinese Xinghui Automotive Group, but continued to produce handmade sports cars, as founder Eberhard Schulz had always insisted.