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Rare early Lamborghini Countach sells for record $1.2 million

Lamborghini may have made headlines with the highly exclusive, $4.5-million Veneno and the even more expensive Veneno Roadster that followed, but when it comes to classics sold at auction, their prices seldom approach the kind of figures attained by rare classics made by arch-rival Ferrari. Early 350 GTs and rare Miuras (like the SV prototype Gooding sold a few years ago for a record $1.7 million) have been known to breach the seven-figure mark, but now the Countach is making its way into the big leagues as well.
Pictured here is a rather exceptional early example sold by Bonhams in Connecticut last week. This 1975 Lamborghini Countach LP400 "Periscopica" - so dubbed for the unique rearview mirror fitted to the first 150 examples made - has just over 10,000 miles on the odometer. With flawlessly retouched Blu Tahiti (read: French racing blue) paint and an immaculate deep tan leather interior, the Periscopica was the subject of feverish bidding before selling for $1.2 million to a buyer present at the auction, beating out a dozen or so telephone bidders.
The record price for a Countach trumps the previous record, also set by Bonhams at the Quail Lodge last August, where another '75 Periscopica sold for $836,000. The rising prices surely reflect the coming of age for the Countach, now nearly 40 years since its introduction - particularly for the generation that grew up idolizing it as the prototypical supercar. Scope it out in the artful gallery of 76 high-resolution images above and the details of the auction below.

The Huracan Performante is still a supercar steal, regardless of 'Ring time validity

When Lamborghini released video of its new Huracan Performante lapping the Nurburgring in a stunning 6:52, not everyone was convinced the record was honest. As a result, Lamborghini's director of research and development provided some data to Roadshow to shore up the lap time claim. He addressed the tire issue by telling Roadshow that the car used the optional Pirelli Trofeo Rs. And he noted that it was quicker than its more powerful brother, the Aventador SV, because it cornered and accelerated faster. He even provided VBox data of the lap. The thing is, none of this really matters in the end, particularly for the Huracan. Let us explain. For one thing, if you're going to question the Performante's time, you should question all of the times. All of these records are presented by the manufacturers, so there isn't a truly impartial party measuring the results and inspecting cars. Even with a company presenting plenty of data and explanations, it's hard to be 100 percent sure everything is on the level without an unbiased third party inspecting the cars before and after the lap, and keeping timing. But besides the issue of impartiality, the times themselves aren't really important. As interesting and fun as it is to compare lap times at the Nurburgring, they're really only relevant for rich owners and car companies to brag, and for less-rich fans to bench race. That's not a bad thing, but to look at the lap time of one single track doesn't really give a full picture of a car's performance. A car that's fast at the Nurburgring could be really slow on a tight course like Streets of Willow Springs. There's also the issue of who's driving the car. The manufacturers put their top drivers out on the 'Ring to set times. If you're not a factory test driver, you'll probably never go that fast even if you did get your car to the track. It's all a bit like the silly "blind" or two-wheeled car records. They don't actually provide much info on what the car is really like, or how you could drive it. Even if you're not on board with this explanation, and trust all the 'Ring records except this Lamborghini, we still have a reason why it doesn't matter. You see, even if you're convinced that there's no way the Huracan could best the Porsche 918 Spyder and the Aventador around the Nordschleife, it's still a screaming supercar bargain. The Porsche is a million-dollar car, and the Aventador, just the base model, is $125,000 more than the Huracan Performante.

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen