Clean Carfax Automatic Premium Warranty Dealer Inspected on 2040-cars

Auto blog

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 says gas-electric Q7 E-Tron PHEV coming to US, China

That 166 MPGe diesel-electric Audi Q7 E-Tron Quattro we wrote about last week from the Geneva Motor Show? The US might eventually get those, too. With one important change. Audi disclosed details about the upcoming Q7 E-Tron Quattro SUV plug-in hybrid at the Geneva show that were truly impressive. The model will be able to go as far as 35 miles on electric power alone and will have a fuel-efficiency rating of 166 miles per gallon equivalent. The 373-horsepower beast will also be able to go from 0 to 60 miles per hour in about six seconds. Like we said, impressive. Now, we're finding out from Automotive News Europe that not only will the model debut in Germany next year, but the US and China will get versions as well. The difference? Whereas the standard European version pairs a 3.0-liter six-cylinder diesel engine with an electric motor, our version will use a 2.0-liter turbocharged gas engine as its non-electric mill, said Automotive New Europe, citing comments from Audi development chief Ulrich Hackenberg in Geneva. No word on when the US will start seeing its version of the Q7 E-Tron, so we'll just have to take a look at Audi's press release below from earlier this month for full details on the diesel Q7 E-Tron. Related Videos: Great class, minimal emissions – the new Audi Q7 e-tron 3.0 TDI quattro First diesel plug-in hybrid with quattro drive in its segment Best value in the segment: up to 56 kilometers (34.8 mi) electric range Maximum efficiency with hybrid management Audi Q7 e-tron 3.0 TDI quattro It accelerates from a standstill to 100 km/h (62.1 mph) in six seconds, and yet consumes not even two liters of diesel per 100 kilometers (117.6 US mpg). The Audi Q7 e-tron quattro is sporty, comfortable and at the same time highly efficient. The world's first TDI plug in hybrid with quattro drive, it is also the first plug-in hybrid with a diesel engine from Audi. The Q7 e-tron quattro is Audi's second model with a powerful plug-in hybrid drive system. The model combines the best of two worlds: Powered by the lithium-ion battery, the large SUV covers up to 56 kilometers (34.8 mi) on electric power alone – quietly, powerfully and with zero local emissions. Together with the diesel engine, the car can cover a total distance of 1,410 kilometers (876.1 mi). Sporty power and minimum consumption The Audi Q7 e-tron quattro is the world's first plug-in hybrid car with a six-cylinder diesel engine and permanent all-wheel drive.

2015 Audi Q3 headed for Detroit before hitting US showrooms this fall

The market for small premium crossover vehicles continues to grow in popularity here in the US, and Audi is finally ready to get in on the action. Going up against competitors like the BMW X1, Land Rover Range Rover Evoque and soon-to-arrive Mercedes GLA-Class, Audi will unveil a US-spec version of the 2015 Q3 at the Detroit Auto Show next week. And in what we can only assume is an amusing coincidence, the Q3 will go on sale during Q3 of this year.
As we reported back in October, it appears that our Q3 will boast a slightly taller ride height than its European counterpart, but Audi isn't releasing too much information about the crossover just yet. What we know for sure is that it will be powered by Audi's well-liked 2.0-liter turbocharged TFSI inline-four producing 200 horsepower and 207 pound-feet of torque. A six-speed automatic transmission and front-wheel drive will come standard, while Audi's Quattro all-wheel-drive system will be optional.
Visually, the 2015 Q3 shown here has a different front fascia design than its European counterpart, but it's not immediately clear if this is exclusive to the US model or if it will be a new element for Q3 in all markets. We don't expect pricing to be announced until closer to its on-sale date, but the Q3 will definitely be stuffed with content, even in base form. Audi has already confirmed such niceties as a panoramic moonroof, Xenon headlights and heated leather seats. Delivering a good amount of practicality for its size, the Q3 will provide a maximum cargo capacity of up to 48.2 cubic feet and 16.2 cu-ft with the rear seats in place.