on 2040-cars

Auto blog

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.

Last Lamborghini Diablo of the 20th century heads to auction

Even among rare sports cars, some examples are simply more special than others because of their place in history, and for Lamborghini fans this 1999 Diablo SV might be something truly exceptional. Silverstone Auctions claims this is the final Diablo SV and arguably the last "true" Lambo before Volkswagen Group's complete takeover. This Diablo SV left the factory on December 21, 1999, which made it the final Lamborghini of the 20th century. At that point, VW Group already had financial control over the Italian sportscar maker, but Silverstone Auctions claims the German company really asserted its power starting in 2000. Whether you want to consider this the final "true" Lamborghini or not, it's still a fantastic looking sports car. This right-hand drive example has covered about 32,200 miles and underwent a chassis and suspension restoration in 2013. Silverstone Auctions believes this is the only Diablo to wear this three-coat Pearl Red/Orange exterior color, and the interior upholstery is a mix of black leather and Alcantara. Silverstone Auctions will sell the Diablo at the Practical Classics Restoration and Classic Car Show in Birmingham, England, on March 6. The company expects the sportscar to sell for 150,000 to 170,000 pounds ($218,000 to $247,000 at current rates). We're curious to see if the car's place in Lamborghini history has any effect on the sale price. LAST 'TRUE' LAMBORGHINI FOR AUCTION A special 1999 Lamborghini Diablo SV, believed to be the very last Lamborghini to leave the Sant'Agata factory before Volkswagen took full ownership, will be auctioned at Silverstone Auctions' sale at the Practical Classics Restoration and Classic Car Show. An important piece of Lamborghini history, the car is also believed to be the last Diablo imported into the UK as well as the last Diablo SV off the production line. It is estimated at between GBP150,000 and GBP170,000 and will be offered in the sale taking place at the NEC, Birmingham on 6th March. 'V12 SVR' left the factory on the 21st of December in 1999 immediately before Lamborghini shut down for the Christmas break and their celebrations to mark the end of the Century. For the previous few months the Volkswagen Group had been in financial control of the company but the end of that year marked a turning point. From the beginning of 2000 Teutonic efficiency began to replace the magic of Italy in terms of the bloodline, style and general madness of the Italian supercars.

Comedians in Cars Getting Coffee teases return with a Countach

Unless you have an intense aversion to Jerry Seinfeld, it's hard not to find something to like about his show Comedians in Cars Getting Coffee. After all, the series combines funny people telling often hilarious stories while riding in ridiculously cool vehicles. The trailer for the sixth season is now online, and based on this tease, this definitely looks worth watching no matter what part of the videos interest you. Of course, it's the automotive portion that really grabs us, and Seinfeld has quite a fleet to showcase for season six. The trailer shows off a Lamborghini Countach, a '57 Chevrolet Bel Air convertible, a classic Volkswagen Beetle in the green and white German Polizei livery, a Morgan, an Aston Martin DB5, and a Ferrari 308. On the more humorous side of things, the guest list at least includes Julia Louis-Dreyfus, Jim Carrey, Steve Harvey, Stephen Colbert, Bill Maher and upcoming host of The Daily Show Trevor Noah. Season six of Comedians in Cars Getting Coffee premieres on Crackle on Wednesday, June 3, at 11:30 PM ET.