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Lil Wayne's daughter gifted Ferrari GTO, BMW X4 for 16th birthday [w/video]

It must be nice to have ludicrously rich parents. Rapper Lil' Wayne's daughter Reginae recently celebrated her 16th birthday with a huge party in Atlanta. Where many teens would be overjoyed just to get a family hand-me-down for a first car, the rapper's daughter got two brand-new vehicles – a BMW X4 and a Ferrari 599 GTO. The X4 would certainly be extravagant by itself, but it's not totally without precedent. Anyone who watched even a snippet of MTV's old show My Super Sweet 16, probably saw a few vehicles that were just as expensive. However, the concept of any newly licensed teen behind the wheel of a Ferrari is absolutely terrifying to us. This one is even crazier, with 661 horsepower and a chassis capable of lapping Ferrari's Fiorano test track quicker than an Enzo. Of course, with just 599 built, Reginae could probably just park the coupe and let it appreciate enough to finance her next big party. The BMW is reportedly going to be her daily driver, anyway. According to TMZ, Reginae's mother and stepfather bought her the Ferrari with Lil' Wayne's blessing. They believe their daughter can handle the 599 GTO, which shows some serious – if misguided – trust. Check out the video below to see the cars and her party. Related Gallery 2015 BMW X4 View 55 Photos Related Gallery Ferrari 599 GTO View 15 Photos News Source: TMZ via YouTube BMW Ferrari Car Buying Ownership Videos ferrari 599 ferrari 599 gto

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.

1972 BMW 1602e EV concept looks glorious

Pretty sweet. That's a first impression of one cherry-looking experimental electric vehicle from BMW from way back in the day. Or at least from someone who for a time drove a '74 2002. A gas-powered one, that is. BMW built two experimental vehicles in 1972 based off of the old 1600 (which evolved into the 2002) model and even showed them off during the Munich Olympic Games of that year. BMW strung together a dozen typical car batteries and linked them to an electric motor made by Bosch. The result was a battery pack that weighed about 770 pounds (A quick modern-day comparison: a Nissan Leaf battery pack weighs about 480 pounds). Bimmer recently posted a two-and-a-half minute video about the project. The clip doesn't say how far those cars could go on a single charge, but did use to the vehicles to "escort" long-distance running competitions at the Munich Games, since there was no exhaust to choke those athletes out. The timing is fortuitous, of course, as the German automaker looks to continue to gain more goodwill from the green-car set through its new "i" sub-brand of plug-in vehicles, including the i3 electric vehicle and the i8 plug-in hybrid. News Source: BMW/YouTube Green BMW Electric Videos munich