No Reserve Low Mileage A4 2.0t Convertible Quattro Awd Xenon Turbo Loaded Clean on 2040-cars

Auto blog

Formula E is on track financially, with NYC race coming up

LONDON - Formula E could be breaking even already were it not investing for the future, chief executive Alejandro Agag said on Monday after the electric motor racing series reported continuing losses in its latest annual accounts. Accounts filed at Companies House showed Formula E Operations Ltd reduced its operating loss to 33.7 million euros ($38.32 million) at end-July 2016, a period covering its second season, from a previous 62.7 million. Net liabilities rose to 107.2 million euros from 72.1 million, while total revenues reached 56.6 million from a previous 19.7 million. "Everything is going according to plan," Agag, whose city-based series will be racing in New York for the first time on July 15 and 16, told Reuters in an interview at his London offices. "Actually we are doing incredibly well financially according to our plan. "We could have broken even this year but we decided to invest more in marketing and promotion. We decided to add races like the one in New York, which is in year one a race which is costing, we have significant capital expenditure." "It's really up to us when we want to go to break even or not. We could be in break-even now, we could be in break-even next season but we may decide to invest more in marketing and promotion." Agag said the shareholders, including John Malone's Liberty Global and Discovery Communications, were supportive of the strategy and the series had attracted more investors, sponsors and car manufacturers. The New York races will be held in Brooklyn's Red hook neighborhood, with lower Manhattan and the Statue of Liberty as a backdrop with technology partner Qualcomm securing the naming rights. MANUFACTURER INTEREST Agag, whose series plays down competition with Liberty Media-owned Formula One, said more carmakers were set to join a series increasingly aligned with their commercial focus. "I think Formula E has become the preferred destination for manufacturers and there are a few reasons for that," said the Spaniard. "Obviously, one is that it is electric and manufacturers are more and more focusing on electric cars...and we are the only platform really to help them promote that technology and those types of cars. "And second, because of the cost. The cost of the team in Formula E is very moderate." Whereas top Formula One teams can burn through $300 million a year, as can the likes of Toyota in the World Endurance Championship, the budgets of successful Formula E teams are between 10 and 15 million.

Audi kicks off ad campaign tonight with stirring new spot

Following last week's entertaining and wildly popular Spock vs. Spock video, Audi has come back with a bevy of videos for its new advertising campaign that will begin airing tonight in primetime and on cable.
There are five ads altogether, but the longest one, a 60-second spot titled It Couldn't Be Done, is our favorite by far. Set to a reading of the poem of the same name by Edgar Albert Guest, the commercial chronicles the history of Auto Union Deutschland Ingolstadt from the days of its founder, August Horch, through its many decades of innovation, competition and creativity. Indeed, watching the commercial gave us chills similar to when we first heard the Ram brand's Farmer commercial that aired during this year's Super Bowl.
The other four commercials are shorter 15-second spots that focus on such familiar themes as the company's Quattro all-wheel-drive system, the safety of its vehicles, their style and the company's advances in LED lighting. While less impactful than the longer ad, we think they effectively sound the drum beat of Audi's preferred tag line: Truth in Engineering. Scroll down to watch all five new ads, starting with the 60-second It Couldn't Be Done.

Audi R8 lines up as safety car for Rolex 24 at Daytona

This weekend a new era begins in American sports car racing with the Rolex 24 at Daytona to kick off the new United SportsCar Championship, the freshly inked union between the Grand Am and American Le Mans Series. There'll be a wide variety of machinery lining up on the grid at the Florida speedway, including race-ready versions of the sports cars you can drive on the road, plus Daytona Prototypes, Le Mans Prototypes and even the DeltaWing. But at the front of the pack will be the Audi R8 5.2 FSI.
That's because Ingolstadt's flagship has been named as the official safety car for this, the 52nd annual Rolex 24 at Daytona. And so the R8 becomes the first pace car pressed into service for the United SportsCar Championship, although the model also paced last year's race (pictured above) when it was under the auspices of the Grand Am series.
The car in question appears to bear little in the way of modifications over the showroom version, save for some requisite graphics and maybe some emergency lighting to make it more visible - because while you wouldn't miss an R8 slicing its way through ordinary traffic on the road, it's another story entirely in a field full of competition machinery. Audi points out that the road-going R8 shares a good 50 percent of its components with the R8 LMS competing in the race, including its 5.2-liter V10 engine that's available this year with a new seven-speed dual-clutch transmission.