The same new design language and platform pulling the Mazda6 and CX-5 out of automotive doldrums will likely make it to the compact Mazda3 by this fall according to a new report.
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Johnson Controls, the sole American bidder to U.S. battery maker A123, is appealing the company’s sale to Chinese firm Wanxiang Group.
Bankrupt battery maker A123 Systems was scheduled to go up for auction today behind closed doors at a Chicago law firm, but the list of bidders is likely to cause trouble.
On June 29 at the Goodwood Festival of Speed, attendees will have the chance to take in a little more than cars running “the Hill.”
This weekend’s Melbourne GP kicks off the 2012 Formula 1 season. After the third session of qualifying, Michael Schumacher displayed a return to form, qualifying 4th, well ahead of his teammate for Mercedes GP Nico Rosberg. Unfortunately, Schumacher’s Mercedes lost power out of turn 1 of the tenth lap, forcing an early retirement on an otherwise rapid display of performance.
Despite coming short at Melbourne this weekend, Michael Schumacher has enjoyed a remarkably long F1 career of more than 2 decades, and has officially broken and currently holds many records. According to the official Formula 1 website, Michael Schumacher is “statistically the greatest driver the sport has ever seen.” Schumacher has earned 7 driver’s championships, the most race victories, the most fastest laps, the most pole positions, the most points scored, and the most races won in a single season. In 2002, Schumacher became the only driver in Formula 1 history to finish in the top three in every single race of the season.
Michael Schumacher’s success all began when he joined the Benetton-Ford race team. What’s more, 2012 marks the 20th anniversary of a landmark year, the season where Michael Schumacher earned his first podium and scored his first victory in 1992 with Team Benetton. Coincidentally, racing fans can now own a piece of history: the 1992 season Benetton F1 car is now available for sale.
Ducati, the famous Italian motorcycle brand could be up for sale. There seems to be significant interest in the motorcycle maker from both American and European buyers.
Investindustrial SpA, the Milan-based private-equity firm that owns Ducati, seems to be looking for an IPO (initial public offering), or to sell it entirely. The sale could fetch about $1.3 billion.
Deutsche Bank AG and Goldman Sachs Group Inc. would manage Ducati’s IPO, and could file as soon as June.
Although no one has publicly stated their interest in buying Ducati, there are some beliefs that Volkswagen, or BMW would be a perfect fit to make the purchase.
Mercedes-Benz/Daimler’s performance group AMG has had partnerships with Ducati before, so it’ll be interesting to see if that will play a part in the sale. A year ago Daimler was rumored to take over Ducati.
Additionally, Bloomberg speculates that American company Harley Davidson could potentially fit the bill.
At this point all we can do is speculate, check back for more information as the situation develops.
Many enthusiasts agree that of all Ferraris, the 1964 Ferrari 250 GTO road racer eclipses the rest. With less than 40 examples ever made, classic car collectors agree: this ranks among the most desirable.
Last week, Top Gear revealed that a private treaty sale happened for Ferrari 250 GTO serial number 5095. It sold for £20.2 million, or $31.8 million U.S., the transaction made this GTO the most expensive Ferrari in the world. Unofficially, the 250 GTO is also the world’s second most valuable, only bested by the 1936 Bugatti Type 57SC Atlantic sold in 2010. Few elite automobile sales are publicly disclosed and prices are almost always protected, though it was estimated to cost between $30 and $40 million.
While the price of this particular Ferrari 250 GTO had been revealed and confirmed by the broker involved, the identities of the buyer and seller remain anonymous. According to speculation, the car is believed to belong to British businessman Jon Hunt, who purchased the Ferrari back in 2008 for the equivalent of almost $25 million..
[Source: Top Gear]
The ghost of Saturn just can’t cut a break. GM is considering what to do with Opel, its German division that won’t be turning a profit anytime soon.
GM last tried to sell Opel in 2009 before giving the ailing brand another chance. But despite increasing its lineup with new vehicles, and even increased sales, the company continues to bleed cash. “[GM CEO Dan] Akerson is fed up with Opel, and the turnaround isn’t gaining traction,” said an anonymous source inside the company. Unsurprisingly, nobody is willing to comment on the situation—though Klaus Franz, head of Opel’s works council, called the sale “pure speculation.” So there’s that.
There are a few possibilities for GM’s Opel dilemma: the company is looking to expand in China, and Opel could go to any number of eager Chinese carmakers. Or, according to German magazine Spiegel, it could go to crosstown rival Volkswagen—feeding the VW corporate juggernaut on its goal of global domination. Volkswagen and Opel, dominating the German car market? There’s a reason why nobody has commented on the situation: because it seems too unbelievable (yet unsurprising) to be true.
[Source: Spiegel Online]
As part of Spyker’s capital-raising efforts for its ailing Saab brand, the Dutch automaker is entering into talks with Chinese automotive company Pang Da, and will have to rename itself as Swedish Automobile N.V. as part of the deal.
In return, Saab will get a $42 million cash payment, ostensibly to help pay Saab’s substantial debts. Saab CEO Victor Muller confirmed the payment, stating ”Pang Da’s advance payment and sales of imported Saab cars are not subject to approval from the NDRC. The first advance payment of EUR 30 million was received last Tuesday.”
Pang Da is expected to pay $91 million for a 23 percent stake in Saab. However, a Bloomberg report claims that China is hoping to slash the size of its auto industry, and government regulators may not give the go-ahead for the transaction, scuttling Saab’s salvation.
The Gulf Oil orange and blue livery is an iconic paint job that has transcended Gulf Oil’s demise into relative obscurity, with the classic colors still appearing on all kinds of racing merchandise, and even the Ford GT road car during its production run.
One collector of fine automobiles decided he liked the Gulf paint job so much, he bought all 14 of the cars that ever appeared. With storied names like Brabham, McLaren, Aston Martin and Porsche included (among them the greatest racer of all time, the 917), the price paid for the cars must have been nothing short of extravagant.
Hit the jump to see the list of Gulf Oil cars sold
Two mainstays of the buff book world have been sold as part of a package deal, after their parent company, French publishing giant Lagardere, dumped a variety of print properties, including Car and Driver as well as Road & Track.
In a shedding of properties that Lagardere no long deems “strategic”, the two magazines, as well as 100 other publications, were sold for $889 million to U.S. publishing giant Hearst. Lagardere’s CEO said that the company could no longer compete effectively in the United States, especially with the downturn in advertising revenue. Women’s magazine Elle was among the titles sold, but the brand will remain under the stewardship of Lagardere, unlike the two car mags. Lagardere subsidiary Hachette Filipacchi Media was the previous owner of the magazines.
[Source: New York Times]