2007 Audi Q7 3.6 Premium Quattro on 2040-cars

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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.

Audi moving ahead with Q1 crossover

Audi crossovers have been getting smaller with each passing year. What started with the Q7 has since downsized to the Q5, then to the Q3, and now reports coming in from Germany reaffirm speculation that Ingolstadt is preparing to go one more size down with a Q1.
The new pint-sized premium crossover would likely share the platform that underpins the Volkswagen Polo and Audi's own A1. Although the architecture has already been modified to accommodate all-wheel drive, Autobild suggests that the Q1 would be a front-drive-only affair, which might limit its appeal somewhat, but then most buyers probably wouldn't opt for all-wheel drive anyway.

Auto Express gets close-up look at the 2016 Audi R8

Audi invited Auto Express to the Ascari circuit in Spain to get a ride in the new R8 that will be introduced at the Geneva Motor Show. Jack Rix starts by giving us a walkaround of the camouflage-covered coupe, the obvious difference between it and the leaked image from a couple of weeks ago being the slatted front intakes. However, those intakes are present on the image Audi teased showing off one new, slimmer, laser headlight. The biggest shock: there will be no V8 model at launch - there will be one engine in two levels of tune. The first is the 5.2-liter R8 V10 with 540 horsepower, a bump of 15 hp over the present car. The second is the 5.2-liter R8 V10 Plus with 610 hp, a leap of 60 hp over the current model. That hotter trim, identified by its fixed rear wing, drops the 0-60 mile per hour time by a half-second to 3.2 seconds, and increases top speed seven miles per hour to 205 mph. Rix ran his fingers along the intakes behind the door and said he could feel sideblades, so all is not lost - what would an R8 be without sideblades? More obviously, on the V10 Plus Rix looked over there are new trapezoidal exhaust tips framing a serious diffuser in back. Underneath, the aluminum chassis adapted from the Lamborghini Huracan is 15 percent lighter than before and 40 percent stiffer. Shifting will be done via a seven-speed S-tronic dual-clutch transmission only. There are seven driving modes, a switchable exhaust note, and more direct variable steering. The German test driver Rix rode with said the new R8 is easier to drive faster, which - no matter what you think of the looks - will make it pretty special. News Source: Auto Express via YouTubeTip: Clark Geneva Motor Show Audi Coupe Luxury Performance Videos