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First BMW i8 in US sells for $825,000

Here are some numbers. The standard BMW i8 starts at starts at $135,700. The first i8 in the US was auctioned off at the Pebble Beach Concours d'Elegance this past weekend and the auctioneers, Gooding & Company, said before the gavel was lifted the fist time that they expected the i8 with unique Frozen Grey Metallic and other upgrades to raise between $150,000 and $200,000 for the Pebble Beach Company Foundation. Turns out, the car eventually sold for $825,000 to an unnamed buyer. Along with the honor of having the first i8 on these shores, the special plug-in hybrid comes with Dalbergia Brown leather upholstery, a set of Louis Vuitton luggage and something called a "professional edition" charging station along with laser headlights (subject to regulator approval). A number of other i8s were delivered to a few wealthy car shoppers who managed to make their way to Pebble Beach over the weekend, including automotive guru Roger Penske and Nest CEO Tony Fadell. The special edition was presented at the auction by Jay Leno and BMW North America president and CEO, Ludwig Willisch. You can't put a price on that. Just kidding. You can, and it's apparently $825,000.

2016 BMW X1 will be second model on company's front-drive platform

BMW is putting a lot of its chips on the success of its forthcoming front-wheel drive models, and it's making a big bet on the company's future in hoping that customers will accept them. Its front-driving UKL platform is underpinning not just the current crop of Minis but a host of BMW vehicles too. The rollout starts with the 2 Series Active Tourer in Europe later this year. But the Bavarian brand confirms to Automotive News Europe that the next one is the X1 crossover, slated to come to Europe next June. It will also be joined by the X2 next summer, confirming earlier rumors about the fashionable CUV's existence.
As the previous spy photos suggest, the X1 is even smaller than the current model, and it supposedly uses the same crop of turbocharged 1.5-liter three-cylinder and 2.0-liter four-cylinder engines as Mini. But according to Automotive News Europe, the little guy is getting an extended, three-row version for the US, Russia and China. Like with the X4 or X6, the X2 shares most of the mechanical parts with its more conventional-looking sibling but features sleeker styling.
To make all of these UKL-based models possible, BMW is sharing development among them as much as is practical. According to Automotive News Europe, the next generations of the Mini Countryman, Clubman, X1 and X2 share the same electrical systems, drivetrains and more. Adding in the Active Tourer and still mysterious Family Active Sports Tourer to the mix, and the result is a big gamble that needs to go Bimmer's way.

BMW Z8, Lambo LM002 sell for $192,500 apiece in Detroit [w/poll]

Think a car are a bad investment? That all depends on what kind of car you're talking about. Because while most cars depreciate in value as soon as you drive them off the lot, others can do even better than hold their value. The cars that appreciate tend to be pretty high-end exotics, but they don't have to be multi-million-dollar classics to command a premium at auction. Just look at the results from RM Sotheby's Motor City sale in Detroit this past weekend. The auction house moved a solid $7.4 million worth of metal, which is pretty impressive when you consider that – unlike events at Lake Como or Pebble Beach – not one of the lots dipped into seven figures. 1930s-era American classics performed the strongest, with Duesenbergs, Packards, Auburns and the like all fetching hundreds of thousands. But what intrigued us most were the European exotics that rounded the top ten results. Amidst the Depression-era American steel were a BMW Z8 from 2001 and a 1988 Lamborghini LM002, each of which sold for an equal $192,500. Hardly the highest figures paid for European exotics this year, but considering how much they were worth just a few years ago, they've proven solid investments. BMW only made 5,703 examples of the Henrik Fisker-designed retro Z8, of which only 2,543 were brought to the United States, where they originally sold for $128,000. The most anyone had ever paid for one at auction, according to Sports Car Market, was $184,082, just this past March at Silverstone. That makes the price achieved this weekend a new record for one of the slinkiest vehicles the Bavarian automaker has ever made, representing an impressive 50-percent increase in value over the course of fourteen years. This particular example – chassis WBAEJ13481AH60437 for those keeping track – is decked out in silver over black, with less than 15,500 miles on the odometer. This Rambo Lambo was produced early in the 301-unit production run, with the sought-after carbureted engine and 32,000 miles on the clock. It didn't set any records at the same price, other examples of the LM002 having traded over the past few years for over $200k. But considering that Sant'Agata originally charged around $120-130k for the SUV when it was new, its selling price still represents about 50-percent appreciation (leaving inflation aside).