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VW has received several tentative bids for Ducati

Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany's Volkswagen, sources involved in the process told Reuters. Volkswagen, whose Audi division controls Ducati, has received several tentative bids with the Benetton family's investment vehicle Edizione Holding valuing the Monster motorbike maker at $1.2 billion, one of the sources said. As well as Edizione Holding, U.S. buyout fund Bain Capital, which owns a stake in Ski-Doo snowmobiles maker BRB, and two Indian motorbike firms, Eicher Motors and Bajaj Auto, have also bid for Ducati, the sources said. Indian carmaker Eicher controls Royal Enfield, a motorcycle brand established in 1893 which ranks as one of the oldest. Strategic bidders also include U.S. automotive firm Polaris Industries, which earlier this year said it would wind down its struggling Victory Motorcycle brand. A shortlist of bidders for a second stage of the auction could be selected as soon as Saturday, two of the sources said. Volkswagen adviser Evercore has a long list of bidders including private equity funds such as Ducati's previous owner Investindustrial, CVC Capital Partners, Advent and PAI, all hoping to outbid industry players, the sources said. If it gets to the second round, Edizione Holding could seek to form a consortium with a financial investor, two of the sources said, in a bid to secure control of Ducati, whose racers have won the Superbike world championship 14 times, with Carl Fogarty and Troy Bayliss its most successful riders. Audi, Edizione Holding, Investindustrial, Advent and PAI declined to comment, while the other interested groups were not immediately available for comment. PRICING CHALLENGES For some buyout funds, Ducati's valuation of up to $1.4 billion – which sources said is based on a multiple of more than 10 times its core earnings of roughly 100 million euros – is a tall order as they lack the synergies that some motorbike makers could achieve. But Investindustrial founder Andrea Bonomi, who sold Ducati to Audi for about 860 million euros in 2012, is serious about a comeback, one of the sources said. China's Loncin Motor was among a group of industry players that initially showed interest in Ducati, alongside Harley-Davidson. The latter has, however, decided against making a bid due to Ducati's price tag, while it could not be established if Loncin Motor had carried on bidding.

Audi has new Q5 and Q2 crossovers coming this year

Update: Audi has released a teaser video for the Q2 crossover ahead of its debut in Geneva. That video is above. The original post from December continues below. Before the new year is done, Audi will introduce two new crossovers. The announcement comes as part of a planned ˆ3 billion investment plan for 2016, and will include a new Q5 as well as the addition of a new Q2 model into the range. That's pretty ambitious considering the company hadn't produced its first SUV until ten years ago. The replacement for the Q5 should be fairly straightforward, replacing a model that already exists. The current Q5 was launched in 2008 and underwent a refresh in 2012. Expect the new model to offer similar dimensions and specifications, but with improvements to help it fend off the likes of the Mercedes GLC, BMW X3, and the Porsche Macan which shares its MLB underpinnings. The arrival of the Q2, however, promises to take Audi's crossover range further downmarket. With the existing Q3 already taking on Mercedes GLA and BMW X1, the Q2 could go a size smaller to rival the next Mini Countryman. Whatever form it takes, we'll find out within the year, according to Audi. Beyond next year, Audi says it will build its first volume electric vehicle in 2018. The vehicle will take the form of a battery-powered crossover, previewed by the E-Tron Quattro concept (pictured) at the Frankfurt Motor Show this past September. With these and other additions, Audi aims to expand its range to 60 models by 2020. Audi launched into the crossover market with the debut of the original Q7 in 2005. It has since expanded its high-riding lineup with the arrival of the Q5 in 2008 and the smaller Q3 (in overseas markets at least) in 2011. The Q2 is one of several new crossovers said to be in the works at Ingolstadt, including a potential slant-back crossover coupe to be dubbed Q6 and a Q4 to put the TT Offroad concept into production. Audi Group invests in the future - Capital expenditure of more than ˆ 3 billion in 2016 - Audi CEO Rupert Stadler: "Continuing with high levels of investment in future technologies to enhance strong position" - Axel Strotbek, Board of Management Member for Finance and Organization: "Gaining financial scope through further cost optimization" - Audi Board of Management Member for Human Resources Thomas Sigi: "Looking for experts in areas important for the future" Audi will lay the foundations for future growth in 2016.

2015 Rolex 24 at Daytona pre-race notes

Reigning Indy 500 champion Ryan Hunter-Reay summarized our feelings on every year's Rolex 24 Hours at Daytona when he said, "The 24 kind of kicks off the year and has become part of my calendar... It definitely helps you get in race shape after a long layoff." Speaking of IndyCar drivers, 14 of the 33 pilots who started last year's Indy 500 are driving in Daytona this year, and an IndyCar driver has been part of the overall winning team for the last four years. The race starts at 2:10 pm Eastern Standard Time, here's where you can watch it: 2-4 pm: Fox Sports Network 4-8 pm: Fox Sports 2 8-10 pm: Fox Sports 1 10 pm-7 am: IMSA TV on IMSA.com - commentary available here for the full 24 hours 7 am – 2:30 pm (Sunday) – Fox Sports 1 Timing and Scoring Andy Blackmore's typically awesome Spotter's Guide Video primer on the four classes: Prototype (16 in this year's race), Prototype Challenge (8), GT Le Mans (10), GTD (19), and how to identify them. Daytona International Speedway: tri-oval with an infield road course, 3.56 miles long, 12 turns Entry list Qualifying results We've tagged along with Audi for the 53rd running of the race, which marks the first event in the Tudor United SportsCar Car Championship. After a difficult first year of teething – IMSA president and COO Scott Atherton said, "Everybody on our staff and everybody that raced with us last year would tell you it was the most challenging season on record" – some things are smoother this year, some things aren't, starting with the field: 53 cars are expected to line up, 14 fewer than last year, the smallest field since 48 cars lined up in 2011. The Prototype class shed three teams from 2014 and the GT Daytona class lost ten, so there's a 19-car field in that class (nine Porsche 911 GT Americas, three Ferrari 458 Italias, two each of the Aston-Martin V12 Vantage, Dodge Viper SRT, Audi R8 LMS, and one BMW Z4). Truth be told, last year's number was probably inflated by having the previous American Le Mans Series and Grand-Am Rolex Sports Car Championship combined to make the USCC; the field in 2013 was 57 cars, in 2012 it was 59 cars. Another factor in this year's race is that the GT class adopts FIA GT3 rules from next year. Brad Kettler, manager of Audi's customer motorsport program, said they'd sold five R8 LMS cars last year but zero for this year – there are undoubtedly teams waiting on the sidelines for the rules unification before spending the money.