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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.

The skinny on Delphi's autonomous road trip across the United States [w/videos]

Rolling out of an S-shaped curve along Interstate 95, just past Philadelphia International Airport, the final obstacle between the autonomous car and its place in history appeared on the horizon. So far, the ordinary-looking SUV had traversed the United States without incident. It had gone through tunnels and under overpasses. It circled roundabouts and stopped for traffic lights. Now, on the last day of a scheduled nine-day journey, it was poised to become the first autonomous car ever to complete a coast-to-coast road trip. First, it needed to contend with the Girard Point Bridge. Riding in a rear seat, "I saw that bridge coming, and I thought, 'Oh my gosh, this is going to be a grab-the-wheel moment," said Kathy Winter, vice president of software at Delphi Automotive. The car, an unassuming Audi SQ5 nicknamed Roadrunner, had been well-tested. Back in January, a few inebriated pedestrians fell flat in front of the car during a demonstration in Las Vegas. It was the quintessential worst-case scenario, and the car admirably hit the brakes. More than drunken louts, bridges present a sophisticated challenge for the six radar sensors that feed data to the car's internal processors. Instead of sensing solid objects, radar sensors can read the alternating bursts of steel beams and empty space as conflicting information. "They're a radar engineer's worst nightmare," said Jeff Owens, Delphi's chief technology officer. Girard Point Bridge, a blue skeleton of girded steel that spans the Schuylkill River, might be a bigger challenge than most. Traveling across the lower level of its double decks, the autonomous car's radar sensors had to discern between two full sets of trusses. Cross the Schuylkill, and Delphi's engineers felt confident they'd reach their destination: the New York Auto Show. For now, the sternest test of the trip lay directly in front of them. A Data-Mining Adventure Until that point, the toughest part of the journey had been finding an open gas station in El Paso, TX. Trust in the technology had already been established. The main reason Delphi set out on the cross-country venture with a team of six certified drivers and two support vehicles was to capture reams of data. What better way to do that than dusting off the classic American road trip and dragging it into the 21st century? They did exactly that, capturing three terabytes worth of data across 3,400 miles and 15 states.

Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.