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Ferrari-Maserati dealer folds in Las Vegas casino

The ten-year-old Penske Ferrari Maserati dealership located inside the Wynn resort in Las Vegas, where non-Ferrari owners had to pay $10 to walk among the cars, is closed. Word is that the Ferrari franchise is moving to Towbin Motorcars, which you'll know for being the home of the former "King of Cars," and more recently where Floyd "Money" Mayweather has bought 100 cars, including three Bugatti Veyrons. According to Ferrari Chat almost the entire Penske-Wynn staff will make the move, including the highly regarded service department. This being Las Vegas there are, naturally, various theories about why the only Ferrari franchise in the state of Nevada is leaving one of the state's marquee locations. We got a tip a month ago from reader Johnny Autos that Ferrari pulled the franchise, and if there is any truth to that, rumors at Ferrari Chat suggest it part of the reason could have been Steve Wynn flipping his LaFerrari before the 18-month no-sale period had elapsed. Wynn supposedly sold his $1.5 million supercar to Naples Motorsports in Florida for $3.5 million, Naples is asking $5 million for it and using it for the elementary school run in the meantime. On the other hand, Vegas Tripping says Wynn is letting the dealership go in order to get ready for the Alon – another casino – to open across the street in three years. That story believes Wynn will build a pedestrian bridge and rearrange shops on the Wynn side so that customers enjoy the kind of grand entry he would want. And then there's the theory that Penske is getting out of the Ferrari dealership business to focus on commercial trucks. No matter where the truth is in all of this, what matters to you is that you won't be able to spend $10 to check out Ferraris on the strip anymore. Which means more money for the penny slots.

EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

Here are all the new 2022 season F1 cars (UPDATED)

Update: Since this post's original publishing, the rest of this season's teams have revealed their 2022 cars. We've updated the post with all of them, so it now includes every 2022 F1 car on the grid. The updated story continues below. Reveals of the 2022 F1 cars are coming fast and heavy, and at this point, every team has shown off their redesigned cars. This being the case, we figured it was time to provide you all with a place to see all the cars at once. The gallery above holds photos of all the cars, and below you’ll see all them broken down by teams and drivers, along with quotes from the drivers and team leaders that come via F1Â’s official website where the cars were revealed. Mercedes W13 - Lewis Hamilton and George Russel "It just takes you back to being a kid," Hamilton said. "I think itÂ’s always exciting watching, I mean with this new era of car, weÂ’ve never seen such a drastic change, right? "So itÂ’s such a huge change in so many ways, that itÂ’s just been really interesting seeing the designers and everyone coming together to find the best ways of creating a masterpiece." “It feels incredible, obviously Lewis and I have driven so many laps in the simulator of this,” Russel said. “WeÂ’ve seen all the drawings, weÂ’ve had so many meetings and presentations about it, but suddenly seeing it all come together, seeing all of the men and women who have put so much hard work and grit into making this, and coming together here, I think it looks incredible. “And I think the silver [coming] back, weÂ’ve had an incredible livery with the black in the past couple of years – but the silver back on track I think is going to look incredible." Ferrari F1-75 - Charles Leclerc and Carlos Sainz “I think it looks aggressive, it looks radical, and I think it looks beautiful also Â… I just hope itÂ’s fast,” said Sainz. “ItÂ’s innovative, different, thinking a bit out of the box. I like it because itÂ’s just radical, which is what you want to see when you see a new car.” “Yes, I do [like the livery],” Leclerc said. “I think it fits perfectly. ItÂ’s a bit of a dark red, looks a bit more aggressive, but for a car like this, I think it fits perfectly.