2010 Audi S5 Quattro Prestige Cabriolet on 2040-cars

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Formula E is on track financially, with NYC race coming up

LONDON - Formula E could be breaking even already were it not investing for the future, chief executive Alejandro Agag said on Monday after the electric motor racing series reported continuing losses in its latest annual accounts. Accounts filed at Companies House showed Formula E Operations Ltd reduced its operating loss to 33.7 million euros ($38.32 million) at end-July 2016, a period covering its second season, from a previous 62.7 million. Net liabilities rose to 107.2 million euros from 72.1 million, while total revenues reached 56.6 million from a previous 19.7 million. "Everything is going according to plan," Agag, whose city-based series will be racing in New York for the first time on July 15 and 16, told Reuters in an interview at his London offices. "Actually we are doing incredibly well financially according to our plan. "We could have broken even this year but we decided to invest more in marketing and promotion. We decided to add races like the one in New York, which is in year one a race which is costing, we have significant capital expenditure." "It's really up to us when we want to go to break even or not. We could be in break-even now, we could be in break-even next season but we may decide to invest more in marketing and promotion." Agag said the shareholders, including John Malone's Liberty Global and Discovery Communications, were supportive of the strategy and the series had attracted more investors, sponsors and car manufacturers. The New York races will be held in Brooklyn's Red hook neighborhood, with lower Manhattan and the Statue of Liberty as a backdrop with technology partner Qualcomm securing the naming rights. MANUFACTURER INTEREST Agag, whose series plays down competition with Liberty Media-owned Formula One, said more carmakers were set to join a series increasingly aligned with their commercial focus. "I think Formula E has become the preferred destination for manufacturers and there are a few reasons for that," said the Spaniard. "Obviously, one is that it is electric and manufacturers are more and more focusing on electric cars...and we are the only platform really to help them promote that technology and those types of cars. "And second, because of the cost. The cost of the team in Formula E is very moderate." Whereas top Formula One teams can burn through $300 million a year, as can the likes of Toyota in the World Endurance Championship, the budgets of successful Formula E teams are between 10 and 15 million.

Audi R8 V10 Plus vs. Renault Clio Cup racecar will make you go hmmm...

Match up a hot hatch with a supercar of the same vintage, and we'll tell you who will win every time. It's easy, really, as the supercar invariably features a more advanced suspension, stickier tires and most importantly, more power. What if the hot hatch is race prepped, though?
In that particular case, all bets are off. A circuit-tuned suspension, a stripped-down cabin, an ultra-quick sequential transmission and the greatest equalizer of them all, slick tires, are all that's needed to turn the typical hot hatch into a proper dragon slayer.
Perhaps seeking to prove this, Evo has put together an interesting head-to-head between the Audi R8 V10 and a race-prepared Renault Clio Cup. Host Dickie Meaden takes us through each car, highlighting the bits and bobs on both sides which should make this a tight competition. And boy, is this one tight.

Audi reveals facelifted A7 and S7 in Europe [w/videos]

Audi has revealed the nip/tuck and stylistic upgrades for the A7 that we got clues to in spy shots from back in January. The single-frame grille has been subtly reworked along with the lower front fascia and headlilghts. Those bulbs are underlined by a new design for the LED DRLs, and - in Europe - they can be had with Matrix Beam LEDs that come with dynamic turn signals. Out back is a tweaked bumper, as well as new exhaust tips and taillights with an LED pattern that mimics the front lights.
Cockpit inhabitants get new surface treatments like the aluminum and Beaufort walnut inlays, Valcona leather and five possible colors for the seats. The company's MMI Navigation Plus with MMI Touch is fitted with an Nvidia chip for faster graphics processing, and LTE-enabled internet connectivity is standard.
Up front, the 3.0-liter bi-turbo TDI gets a power boost to 320 horsepower and is attached to an eight-speed transmission; a seven-speed S tronic transmission is paired to the rest of the line. The revised 3.0-liter V6 TDI recently discussed at the Vienna Motor Symposium also joins the lineup, here offered in both the 272-hp and 218-hp variants, that latter "ultra" version said to return 50 US miles per gallon.