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1971 Ferrari 365 GTB/4 Daytona could be world's first great 'condo find' [w/video]

Barn finds are the absinthe of the collector car world right now. They're highly intoxicating and a bit of the 'flavor of the month.' An actual barn isn't necessary, just some form of out-of-the-way long-term storage that involves a car being out of circulation for a long period of time, remaining complete with the time-capsule-like detritus of their slumber-yellowed newspapers, vintage eight-tracks or real pay dirt like a telex printout from Howard Hughes or a receipt from the Playboy Club. RM Auctions has just announced perhaps the first 'condo find' in a 1971 Ferrari 365 GTB/4 Daytona coupe that had been stored in a Toronto condominium building for a quarter century. Like any good barn find, this Ferrari is still covered in a layer of thick dust (the removal of which would likely devalue the car considerably) and still has a cartridge entitled "Disco Rock" shoved in its original eight-track player. And while the one and only owner's taste in music may have been questionable, his taste in cars wasn't. The Daytona was the last front-engine V12 two-seater Ferrari produced during the so-called Enzo-era, when founder Enzo Ferrari was still in command of the company. With its 172 mph top speed, a Daytona was famously used by Dan Gurney and Brock Yates in setting a coast-to-coast record of 35 hours and 54 minutes to win the first Cannonball Baker Sea-to-Shining-Sea Memorial Trophy Dash in 1971. An impulse trip to the Geneva Motor Show in the same year by a Toronto businessman saw him purchase the Daytona where he spent a month touring Europe before sending the car back to Canada on the Queen Elizabeth II. He drove it for eighteen years and put a whopping 90,000 kilometers – 56,000 miles – on the car prior to putting the car up on blocks in a condo garage before a trip to Asia that he anticipated would last just six months. The car remained in that spot until November 14, 2014. The car that originally sold for $18,000 in Geneva, Switzerland in 1971 is expected to bring in excess of $600,000 at RM Auction's Amelia Island sale in March. Carwash not included. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 1971 Ferrari 365 GTB/4 Daytona Berlinetta Chassis no. 14385 Body no.

Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

  MILAN — Stellantis is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe underperforming brands in its sprawling portfolio, its chief executive Carlos Tavares said on Thursday. The warning for lossmaking brands is a turnaround for Tavares, who has maintained since Stellantis was created in 2021 from the merger of Italian-American automaker Fiat Chrysler and France's PSA that all of its 14 brands including Maserati, Fiat, Peugeot and Jeep have a future. "If they don't make money, we'll shut them down," Carlos Tavares told reporters after the world's No. 4 automaker delivered worse-than-expected first-half results, sending its shares down as much as 10%. "We cannot afford to have brands that do not make money." The automaker now also considers China's Leapmotor as its 15th brand, after it agreed to a broad cooperation with the group. Stellantis does not release figures for individual brands, except for Maserati which reported an 82 million euro adjusted operating loss in the first half. Some analysts say Maserati could possibly be a target for a sale by Stellantis, while other brands such as Lancia or DS might be at risk of being scrapped given their marginal contribution to the group's overall sales. Stellantis' Milan-listed shares were down as much as 12.5% on Thursday, hitting their lowest since August 2023. That brings the loss for the year so far to 22%, making them the worst performer among the major European automakers. Few automotive brands have been killed off since General Motors ditched the unprofitable Saturn and Pontiac during a U.S. government-led bankruptcy in the global financial crisis in 2008. Tavares is under pressure to revive flagging margins and sales and cut inventory in the United States as Stellantis bets on the launch of 20 new models this year which it hopes will boost profitability. Recent poor results from global carmakers have heightened worries about a weakening outlook for sales across major markets such as the U.S., whilst they also juggle an expensive transition to electric vehicles and growing competition from cheaper Chinese rivals. Japan's Nissan Motor saw first-quarter profit almost completely wiped out on Thursday and slashed its annual outlook, as deep discounting in the United States shredded its margins. Tavares said he would be working through the summer with his U.S. team on how to improve performance and cut inventory.

Watch Evo pick its 2015 Car of the Year in this epic video

With just a few days left in 2015, it's the perfect time to check out Evo's annual Car of the Year test to determine the greatest performance vehicle of the last 12 months. The writers' picks for the 11 finalists spanned a breadth of engaging models and included: Peugeot 208 GTi by Peugeot Sport, Lamborghini Aventador SV, Seat Leon Cupra Sub8, McLaren 675LT, Porsche 991 GT3 RS, Porsche Cayman GT4, Honda Civic Type R, Ferrari 488 GTB, Chevrolet Camaro Z/28, Lotus Evora 400, and Mercedes-AMG GT S. For the venue to test the mettle of these performance machines, Evo stuck close to home this year and visited the twisting roads at the beautiful north coast of Scotland. Racing brothers Marino and Dario Franchitti also came along for the ride to provide two more voices in the competitive challenge to determine a winner. Evo's video explains why each model deserves to be among such rarified company but doesn't gloss over their faults either. There can be only one winner, though. We don't want to spoil it, so check out the clip for magnificent views of these performance machines through the Scottish countryside.