Driver distraught after writing off $500k Lamborghini

A driver was left distraught after losing control and writing off his $500,000 Lamborghini Diablo which careered five metres down an embankment and into dense bushland.

The driver and his passenger were seen looking aghast after the crimson vehicle came off Fowler Road in Illawong, South Sydney, yesterday afternoon.

The driver of the car, one of the fastest production cars capable of reaching 320kms an hour, and the male passenger escaped unscathed.

"The driver lost control and the car went flying off the road down into bushland," an onlooker said.

"The car was a mangled wreck. The driver kept saying 'it's new, it's new. It was easily a write-off."

It is believed the driver had just purchased the vintage Laborghini.

Onlookers stopped to take picture of the wreckage and the recovery van that turned up an hour later.