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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.

Lamborghini Miura owner sues garage over million-dollar car-b-que [w/video]

Remember about a year and a half ago when a rare, classic Lamborghini Miura SV went up in flames in London? Its owner sure does. And he's not willing to write it off, pointing fingers squarely at the Lamborghini dealership in London for causing the fire. It may seem like a difficult case to make, especially since the Miura was not in the dealership's possession when the fire erupted – the owner's son was driving it, but he was driving it home from the dealer where it had been brought in for service. According to the suit filed by the vehicle's owner, billionaire property agent Jon Hunt, the mechanics at the dealership owned by high-end automotive group H.R. Owen must have improperly fitted the spark plugs during the Miura's service. Lamborghini's official dealership should have known better, says Mr. Hunt. That's why Hunt is suing the dealership to the tune of GBP700,000, equivalent to over $1 million at today's rates, plus storage costs and "loss of enjoyment." The vehicle – one of only 764 made – was evaluated at GBP900,000, but Hunt's suit deducts the GBP200,000 it was worth as scrap. We've included footage of the fire below, but it's not for the weak of heart when it comes to watching an irreplaceable classic supercar burning to the ground. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Lamborghini Huracan LP610-4 Avio is ready for takeoff

The 760-horsepower Lamborghini Centenario understandably gets most of the attention at the Italian supercar maker's Geneva Motor Show booth this year, but the company has the limited edition Huracan LP 610-4 Avio on display there, too. This coupe doesn't have the Centenario's vast array of exclusive parts or any mechanical upgrades at all. Instead, the aviation-inspired model's buyers get special colors and additional standard equipment. You can easily spot the Avio edition from the outside from its white or gray flourishes on the lower portion of the mirrors, side sills, the front spoiler's lip, and a double stripe down the roof and hood. Customers can also order five new colors: pearlescent finish Grigio Falco and matte shades of Blu Grifo, Grigio Nibbio, Grigio Vulcano and Verde Turbine. The final exterior tweak is a small L63 emblem on the doors, which stands for Lamborghini and the company's founding in 1963. Inside, customers find a combination of black leather and hexagonal-pattern Alcantara upholstery with white stitching. Lambo also puts the L63 emblem on the seats, and there's a hand-enameled plate on the driver's side window. In addition to the upgraded surfaces, the Avio comes standard with a lifting system, cruise control, and GPS, which should probably come every version of the supercar. Lambo will limit the Avio to 250 units, and they'll start arriving at dealers in Europe this summer. Related Video: LAMBORGHINI INTRODUCES A HURACAN SPECIAL EDITION AT THE GENEVA MOTOR SHOW: THE HURACAN LP 610-4 AVIO Sant'Agata Bolognese/Geneva, 2 March 2016 – Alongside the Lamborghini Centenario, the Lamborghini Huracan LP 610-4 Avio will make its debut at this year's Geneva Motor Show. Produced in a run of only 250, this special edition's name, colors and materials pay tribute to the world of aviation and aeronautics. From the outset, Lamborghini has been inspired by powerful fighter jets, from which it has borrowed technological, aerodynamic, ergonomic and stylistic solutions. References to the aeronautical world in Lamborghini's current product line include digital instrument clusters; controls located on the center console as in airplane cockpits; the red engine 'start' button; the tight stylistic language of exterior lines; and a broad range of matt exterior finishes. The new Huracan Avio offers a host of premium functional features in its standard configuration including lifting system, cruise control and GPS*.