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Archive for the ‘Sports Cars’ Category

New Ferrari CEO Camilleri Lays Out New Five-Year Plan

Iconic automaker building new ute and supercar in next five years.

by on Sep.18, 2018

Ferrari's new five-year plan appears to follow the road map that recently deceased CEO Sergio Marchionne laid out.

Ferrari’s new CEO Louis Camilleri unveiled the iconic brand’s latest five-year plan that could be described as doing what it does best while ensuring it keeps an eye on the future.

Camilleri was only recently installed in the top spot after the unexpected passing of Sergio Marchionne laid out a near-term future that revives some of the company’s past, but also keeps the promises Marchionne made.

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“Our objectives are ambitious, but they are based on a meticulously constructed model pipeline, our enviable pricing power and appropriate investment levels,” Camilleri told investors. (more…)

Fade of Zero-Percent Financing Makes Leasing More Appealing

Rising interest rates pushing buyers toward leases.

by on Sep.14, 2018

Zero-percent financing deals are increasingly difficult to find these days, pushing some into leasing.

Car shoppers are always looking for a deal, and often they’re excited by the prospect of zero percent financing; however, those deals are getting tougher and tougher to find.

The percentage of sales with zero percent finance deals has been cut in half in the last two years — dropping from 14.6% of transactions in August of 2016, to 10.4% last August to just 7.4% this August, according to Edmunds.

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This drop during the last three Augusts sparks interest because zero percent financing deals usually abound in August and September.

“August truly represents the month that we would have expected to see a turnaround in this trend if one was imminent,” said Jeremy Acevedo, Edmunds’ manager of industry analysis. “Moving forward, shoppers will likely need to do a bit more digging to find other ways to save on a new vehicle because it looks like zero percent finance deals are going the way of the dodo.”

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Porsche Expands Subscription-Style Plans

Automaker lets drivers play Host or simply Drive with new programs.

by on Sep.12, 2018

For as little as $269, Porsche offers four hours in a select vehicles as part of its new Porsche Drive program.

Porsche, one of the early innovators of the vehicle subscription program, is taking the concept to another level — actually two levels.

The German automaker’s North American operation is offering two new ways for drivers to get behind the wheel of a Porsche whether for a few hours or for weeks with its Porsche Drive and Porsche Host programs.

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“We want to offer a choice in how people experience the thrill of driving a Porsche,” said Klaus Zellmer, president and CEO of Porsche Cars North America Inc.  (more…)

Bonded: Aston Martin, 007′s Favorite Carmaker Planning IPO

Will investors look past British maker's troubled past?

by on Aug.29, 2018

Andy Palmer, Aston Martin CEO, will put his Second Century Plan to the test with a potential $9 billion IPO.

Forget Bond, or bonds, anyway. What Aston Martin is looking at now is stock. The British automaker, best known as the car of choice for super-spy 007, is acting on long-standing rumors and planning to go public.

The company, which has gone bankrupt as many as eight times since it was founded 105 years ago, has staged a major turnaround during the last several years, and it now plans to float as much as a quarter of its existing shares, a move that would raise an estimated £5 billion, or nearly $9 billion for current shareholders. The IPO will be a test of the “Second Century Plan” put in place by CEO Andy Palmer, who joined Aston in mid-2014.

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“Today’s announcement represents a key milestone in the history of the company, which is reporting strong financial results and increased global demand for its award-winning sports cars,” Palmer said in the statement. (more…)

BMW Z4 Takes its Formal Bow in Pebble Beach

Is that a hint of the new Toyota Supra we see?

by on Aug.23, 2018

The new BMW Z4 roadster offers few hints that it shares its roots with the new Toyota Supra.

Sure, we got a look at the concept version of the new BMW Z4 a full year ago, but there were still plenty of skeptics wondering exactly what the Bavarians would come up with when it was time to roll out the production model. Skepticism was, perhaps, in order considering they had to coordinate development of the next-generation roadster with Toyota which is using the underlying platform for its reborn Supra.

Anyone who expected to see a badge-engineered convertible can now breathe a sigh of relief. Almost precisely a year after revealing the concept version, BMW is back in precisely the same place, Pebble Beach, to roll out the production version, and if first impressions – and some hints about the specs – matter, the new Z4 should generate some serious buzz.

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We’ll have to wait another month to get all the specifications, BMW tells us, hoping to play out the anticipation card for as long as possible, but the automaker has one significant detail to reveal, the Z4 M40i edition will rely on an updated version of the familiar 3.0-liter straight-six to get it up to 60 mph in an estimated 4.4 seconds.

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Want a Good Deal? Buy a Three-Year-Old Car

The best overall deal on vehicle? A three-year-old BMW 3-Series.

by on Aug.21, 2018

Edmunds determined that the 2015 BMW 3 Series may be the best bargain, in terms of price, to be had these days.

Looking for a good deal on a new vehicle? Check out midsize cars. Want a great deal on a used vehicle? Check out three-year-old midsize cars.

Midsize cars are waning in popularity as more and more buyers are looking for crossover vehicles, sport-utilities and trucks. In the meantime, automakers are offering plenty of enticements to buy their midsize cars. However, used midsize cars are available with record savings.

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Record savings can be found on used vehicles compared to new, according to the latest Used Car Report from Edmunds. The data reveals that supplies of three-year-old vehicles hit a record-high level in the second quarter of 2018, accounting for nearly one-fourth of all franchise dealer sales.  (more…)

Aston Martin Rolls Out Limited Line of “Goldfinger” DB5s

Continuation models will offer plenty of gadgets like revolving license plates – but no word on machine guns and ejection seat.

by on Aug.20, 2018

The original James Bond, Sean Connery, with the original Aston Martin DB5 in Goldfinger.

“Bond. James Bond.” For those who’ve always fantasized about being able to speak that familiar line, they can now lay claim to another feature from one of Agent 007’s most iconic adventures.

Working with the special effects team from the most recent James Bond film, Aston Martin has recreated the classic DB5 that originally appeared in “Goldfinger,” and it plans to offer 25 full-size reproductions that, the British marque claims, will include an assortment of “working gadgets.” Those will include “revolving number (license) plates and more,” we’re told, though Aston isn’t ready to reveal whether that also includes the machine guns and ejector seat Bond had at the ready.

Behind the Scenes!

“The connection between Aston Martin and James Bond is something of which we are very proud and it is remarkable that the DB5 remains the definitive James Bond car after so many years,” said Aston CEO Andy Palmer. “To own an Aston Martin has long been an aspiration for James Bond fans, but to own a Silver Birch DB5, complete with gadgets and built to the highest standards in the very same factory as the original James Bond cars? Well, that is surely the ultimate collectors’ fantasy.”

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Woodward Avenue Dreaming

Over 1 million turn out, but the cars are the stars at the 24th annual Woodward Dream Cruise.

by on Aug.18, 2018

Bob Chesnicki and his wife have long wanted to make it out for the Woodward Avenue Dream Cruise. They finally showed up in this T-Bucket for their 32nd anniversary.

It’s either “the world’s largest car show,” or “the world’s largest parking lot,” said Robert Angel, as he watched a procession of muscle cars, hot rods and sports cars slowly creep by on Woodward Avenue.

Angel was one of an estimated 1.5 million people who lined a 16-mile stretch of the eight-lane boulevard that bisects Detroit and its northern suburbs for the 24th Woodward Dream Cruise, an annual event that was expected to draw cars and spectators from as far away as New Zealand, Australia and the former Soviet Union.

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Angel, a former school teacher, only had to travel from Savannah, Georgia, but waited until he retired to finally get to see the Dream Cruise, he explained, because the school year in Georgia normally started in early August.

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New Vehicles Sales Fell in Q2, as Leasing Rates Rose

Mercedes-Benz boasts highest average lease price.

by on Aug.17, 2018

Leasing rates rose in the second quarter of 2018 with SUVs accounting for the largest portion of those leases.

Though auto sales were down overall in the second quarter of 2018, folks leasing instead of buying new vehicles were doing their level best to keep sales numbers high despite lower incentives, according to a new study.

Swapalease.com notes the average months remaining in leases rose during the second quarter to 28.8 months compared with 25.1 months in the first quarter. The rise is an indication that people were looking to get out of their leases early in search of a better vehicle or deal.

The Last Word!

Not only was that measure up, the average miles remaining fell from 23,115 to 22,617 left in their contract, which is only a slight decrease. The ratio of months remaining to miles remaining, according to the website, is an indicator that people are driving more. Those looking to get out leases early could have been creeping up on their contract limit, forcing them to make a move earlier. (more…)

Geely Readying to Plow $1.9B into Lotus Expansion

Could a Volvo-based crossover be in the works?

by on Aug.10, 2018

Geely is rumored to be ready to grow the Lotus brand, giving the Evora a crossover sibling or two.

Geely appears ready to expand its sphere of influence once again. The parent company of Volvo and major shareholder of Daimler AG is rumored to be examining the viability of putting $1.9 billion into sports car maker Lotus.

Holding 51% of the ownership stake, Geely is considering growing the company’s physical and intellectual presence in England with the idea of adding to the brand’s product line-up, including a crossover or smallish SUV, Bloomberg reported.

The Last Word!

Geely isn’t just looking to increase the size of the brand, it wants to expand the size of its ownership stake. It’s buying shares from Etika Automotive, which owns the other 49% of the company. (more…)