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Audi starts production of new TT in Hungary

Audi sure made waves when it rolled out the original TT in the late 1990s, putting fashion forward with a stylish coupe that neatly summed up the design direction the company was headed in. But that was a decade and a half ago, and the TT has moved on considerably since then.
The German automaker has since revealed its third-generation TT, replacing the original twice over with ever-more performance-focused but no less stylish successors along the way. But it wasn't until last week that the first new MkIII TT rolled off the assembly line.
That took place, of course, in Gyor at Audi Hungaria Motor Kft. It's the same assembly plant that handles the company's A3 sedan and cabrio, with the facility also handling final assembly of the TT ever since the factory opened in 1997 and the model began rolling off the line in '98. Last November, the plant in Hungary built its 500,000th TT, and now officials are ushering in the era of the new model.

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 A6 and A7 get a fresh face and upgraded equipment

It's been six years since the introduction of the Audi A6 and A7, but the automaker isn't ready to replace them just yet. So, in order to keep up with fresher competition, Ingolstadt has given its mid-range lineup a bit of a refresh. That includes not only a subtle facelift, but some new equipment, as well. The refreshed models benefit from new front-end styling, side sills, rear bumpers, and rear diffusers that look incrementally sharper than the existing versions. The updated interior features LED ambient lighting, with new trim options to join the expanded range of exterior colors and wheel choices. The infotainment system has been upgraded, and there are tablets mounted to the seatbacks to keep rear-seat passengers entertained. The sum total definitely falls in the evolutionary rather than revolutionary category. But they promise to help attract customers to Audi showrooms who might otherwise be lured towards the newer Mercedes E-Class, Cadillac CTS, Jaguar XF, or Maserati Ghibli, while keeping pace with the BMW 5 Series and Lexus GS that are growing just as long in the tooth. The updates are applied not only to base A6 and A7 models, but also to the Allroad Quattro and the S6 and S7 performance models. Audi says these refreshed cars will be available to order soon for delivery in the summer, and best of all, it hasn't raised the sticker prices in the process. Related Video: 04/22/16 Ingolstadt New look and new equipment – Audi A6 and A7 getting even more attractive - New highlights for exterior and interior and for equipment - Even more connectivity and entertainment on offer - Comprehensive equipment package for the Audi A6 allroad quattro Audi is making its full-size A6 and A7 Sportback* car lines even more exclusive. The exterior of the Sedan and Avant is set to become a touch sharper, with all models featuring interior enhancements and new equipment. There is a new, comprehensive equipment package for the A6 allroad quattro*. The updated full-size family is available to order worldwide soon. Deliveries will take place in the summer. Quality, design and technology – those are the key selling points for Audi full-size models. With the start of the new model year, the brand is further enhancing its models.