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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.

2014 Nissan GT-R Track Pack squares off against Audi R8 V10 Plus

The team over at Motor Trend has pitted the new Audi R8 V10 Plus against the Nissan GT-R. While both of the bright red all-wheel-drive supercars are comparably matched in power output, the similarities end there. Audi offers a mid-engine aluminum coupe with a naturally aspirated V10 that spits out 550 horsepower. Nissan shows up with a more traditional coupe equipped with a 545-horsepower twin-turbocharged V6 at the front of the car.
The Head-to-Head video takes both cars to the Streets of Willow Springs in the California desert for some track work with professional racing driver Randy Pobst behind the wheel. After a day at the track, the pair head to the local mountains for some spirited real-world driving. One dominates on the circuit, while the other earns back its credibility in the canyons. We won't tell you which coupe comes out on top, but we think you may be surprised. Follow the link below to watch for yourself.

2013 Audi Allroad

Reincarnated With A Smaller And Less Passionate Soul
Mention the name "Allroad" to most automotive enthusiasts, and it's likely to conjure up images of the Audi A6 Allroad Quattro, first introduced in 1999. That car-like alternative to a sport utility vehicle was based on the German automaker's A6 Avant wagon. But unlike its luxurious road-going sibling, the Allroad was an on- and off-road variant fitted with an advanced height-adjustable air suspension for additional ground clearance, rugged tires on oversized wheels to improve off-pavement grip and unpainted flared fenders and bumpers to protect it from rugged use. That original A6 Allroad arrived with Audi's powerful twin-turbo 2.7-liter V6, more to offset its increased weight than to boost performance, and was eventually offered with a 4.2-liter V8 before it was discontinued in 2005.
Fast forward eight years, and Audi has introduced its replacement - now based on the smaller A4 Avant wagon.