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Ford paying $750 million just to close plant in Belgium

According to a report from Reuters, Ford is shelling out $750 million in a severance deal that will see the automaker close its facility in Genk, Belgium. The automaker reached this deal with the 4,000 hourly workers employed at the plant last week, which means the company will pay out an average of $187,500 per worker.
Ford is still negotiating with the 300 salaried workers at the factory, which currently produces the Mondeo sedan. All told, Ford expects to lose around $2 billion in Europe thanks in no small part to the region's ongoing economic downturn, and two more plants are scheduled to be shut down in Europe this year. The company will log its $750 million payout under "special items" for this quarter.
As you may recall, Ford took a similar path in the US back in 2009 when the domestic market took a spill. Back then, the company shelled out around $50,000 per employee with at least one year of experience, plus either $25,000 toward a new car or an extra cash payment of $20,000. It would seem the cost of closing plants in Belgium is a much harder pill to swallow than in the States...

First-edition Detroit muscle raises millions for charity at Barrett-Jackson

Amidst all the classic metal crossing the auction block each year in Scottsdale, AZ, Detroit automakers have a tradition of donating the first examples of their most enticing new muscle cars, with the proceeds of their sales going towards worthwhile charities. This year, Barrett-Jackson handled three noteworthy examples. The highest price among them was the first Ford Shelby GT350R Mustang with the VIN #001, which raised $1 million for the Juvenile Diabetes Research Foundation. General Motors donated the first new Chevy Corvette Z06 Convertible, the first retail example of the droptop supercar garnering $800,000 for the United Way. Along with the Z06, GM also donated the first new 2016 Cadillac CTS-V sedan, which brought in $170,000 for Detroit's College for Creative Studies. Although these were the headline Motown muscle machines furnished by the automakers themselves, they weren't the only vehicles auctioned off for worthy causes. A 1950 GM Futurliner bus donated by collector Ron Pratte led the charge when it brought in $4.65 million for the Armed Forces Foundation. Other lots included a custom Jeep Wrangler donated by SEMA ($85k), a new M5 donated by BMW ($800k), a '79 Oldsmobile Cutlass Hurst ($140k), '39 Cadillac LaSalle C-Hawk ($410k), Jeff Gordon's 1999 NASCAR-spec Chevy Monte Carlo ($500k) and a Victory Cross Country 8-Ball motorcycle ($180k). All told, the charity lots raised over $8.7 million for local and national charities. BARRETT-JACKSON REACHES HISTORIC HIGHS FOR SALES, CROWDS AND CELEBRITY APPEARANCES IN SCOTTSDALE • Barrett-Jackson sold 1,611 vehicles, which went for more than $130 million (unaudited), smashing records in the company's 44-year history during the 10-day auction at WestWorld of Scottsdale • Automobilia sales nearly tripled world records, with 2,000 pieces selling for more than $6.55 million • Celebrity attendance and crowds, along with ratings on Discovery and Velocity, spike SCOTTSDALE, Ariz. – Jan. 18, 2015 – Barrett-Jackson, The World's Greatest Collector Car AuctionsTM, reached historic highs during the Scottsdale auction at WestWorld from Jan. 10-18, 2015. During the 10-day auction, Barrett-Jackson recorded more than $130 million in vehicle sales (unaudited) and a world record $6.55 million in automobilia sales (unaudited), making it the highest auction in sales to date. The Ron Pratte Collection alone brought in over $40.44 million in vehicle and automobilia sales.

An amazing Group B rally car collection heads to auction

Kicking off in 1982, the Group B era spawned some of the most fearsome rally cars of all time. The technologically advanced pioneers of all-wheel drive and turbocharging defined a time when automakers had carte blanche to build machines with unrestricted power, without the burden of homologating a large number of road cars to qualify. The results were sometimes deadly, leading the FIA to ban the class after 1986. Now, a collection of seven Group B monsters is headed across the block in Paris as part of the Artcurial auction, held in partnership with France's famed Retromobile show. The show has been delayed to June, however. There's a 1985 Peugeot 205 Turbo 16, one of 20 Evo II models that helped the company achieve two championships in Group B's short run. This particular example was driven by world champion Timo Salonen at the 1986 Swedish Rally, where it finished seventh due to an oil filter seal failure. Bruno Saby subsequently drove it at the 1986 Tour de Corse and Peugeot entered it at the 1986 Acropolis Rally as well. It's still registered to Peugeot Talbot Sport and represents a French technological achievement, according to Artcurial, comparable to the Concorde or TGV train. Representing Italy are a pair of Lancias in the iconic Martini livery. The Lancia 037 helped Bel Paese clinch its only Group B victory in 1983, after a hard-fought rivalry with Audi. It's one of the few Group B cars that weren't AWD, achieving its success the old-fashioned way, through lightness and superb handling. A second Lancia, a 1986 Delta S4, was the culmination of the Italian firm's later Group B efforts and one of Saby's favorites. While Group B was no more in 1987, the S4 was the predecessor to the Delta Integrale that would dominate WRC from 1987 through 1992. While the collection also includes greats like a Ford RS200, Renault 5 Maxi Turbo, and MG Metro 6R4, the centerpiece is the Audi Quattro Sport S1. The ultimate Group B machine, it introduced all-wheel-drive and turbocharging to the sport. It also employed the wildest use of wings and air dams to generate downforce. Tunable up to 590 horsepower, it could rocket to 60 mph in about three seconds. The car offered for sale came straight from Ingolstadt, a 1988 model built for the Race of Champions of ex-Group B cars. The collection was amassed in the late 80s and early 90s, not long after Group B's dissolution.