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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.

Lexus gets top brand marks from Consumer Reports; Ford, Jeep hit hard

Consumer Reports has released its 2014 Car Brand Report Cards, with Lexus again reigning at the top and doing so with the same industry-topping score of 79 that it registered in last year's Report Cards. This year, the institute credited its lineup for being "usually quiet, comfortable, and fuel-efficient," noting it's the only brand on the list "to achieve an excellent average overall reliability score." The Car Brand Report Cars list is meant to rank the best all-around vehicles based on CR testing and reliability results tallied by subscribers it surveyed. Each brand included must have sufficient test and reliability data for at least three models, a standard which left out 11 marques including Fiat, Jaguar, Land Rover and Porsche.
This 2014 Brand Report Cars edition is the first of a new format in which sub-brands have been broken out from their parent brands, with Acura using this year to move up the leaderboard into second place with a score of 75 for its "reliable, well-finished and somewhat sporty models." The top three was rounded out by Audi, climbing from eighth to third by scoring a 74 for "well-crafted interiors, nice handling and good gas mileage." Audi scored highest in the road-test portion, its improved reliability aiding its rise. The top nine was completed by Subaru, Toyota, Mazda, Honda, Infiniti and Mercedes-Benz.
Ford and Jeep weighed in at the other end of the rankings, Jeep taking the lowest overall score in the road tests and hampered by "a mix of spotty reliability." Ford was sunk by reliability issues with its MyFord Touch infotainment system which consumers found troublesome enough to negate its cars earning "solid test scores" for being "very nice to drive." Perhaps the rumored switch from Microsoft to Blackberry's QNX for the next generation SYNC will help them out. Cadillac's score also took a hit for infotainment reasons after it was the leading US brand last year, the CUE system in the XTS dragging Cadillac to the bottom of all General Motors brands.

2017 Audi A4 Deep Dive

Unchanged. Plain. Boring. These words have been used to describe the new 2017 Audi A4, but they all miss the point entirely. Yes, the design of the new A4 is evolutionary, rather than a ground-up restyling. But as they say in ancient High German, "If it ain't broke, don't fix it." Of course, if you're at all interested in the 2017 Audi A4, you've probably read all about it in the official press release a few days ago. So we'll cut to the chase and tell you the bits you don't already know: the American-market details. We spent a day at Audi headquarters in Ingolstadt last week finding out the latest and poking around the A4 in the metal. The new A4 is wider, longer, and roomier than before. The lines are crisper and sharper, but yes, the proportions have remained very similar. That was done on purpose, thoughtfully. Not out of laziness. Stand any two sequential generations of Porsche 911 next to each other and you'll find they are rather similar. And yes, people do complain about that. But they also complain about the property tax rate on their third home in Monaco. That familiar-looking body gets a shockingly low coefficient of drag of just 0.23. The improvements in drag come from fine-tuning details down to the placement of the side mirror (now on the door, rather than the triangular window panel) and the contouring of the inner edge of the side mirror, which gets little vortex generating bumps to improve the turbulent airflow in that area, reducing drag. Attention to detail and refinement of a successful design – not boring, lazy repetition. Another notable departure in the styling of the new A4 is equally subtle, but even more significant from a precision manufacturing perspective: the hood has no cut lines on its upper surface. Instead, the hood now wraps around the tops of the fenders, the cut line integrating with the sharp crease that runs down the entire body side. The creation of this cut line requires extremely tight manufacturing tolerances to enable the precise alignment of the hood and fender gap with the stamped-in crease in the door panel; misalignment would be obvious and catastrophic to the clean, simple design's flow. Now, let's rip off this Band-Aid: no, we won't be getting the Avant. Why? Because no one buys it, vociferous vocalizations on the Internet aside.