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Mercedes and VW battling Uber and Apple to spend billions on Nokia mapping division

Whether for autonomous driving or simply better navigation, digital mapping is closely linked with the future of motoring. The sale of a major player in that industry is spurring a showdown between automotive behemoths and tech giants, and it's a fascinating battle to watch unfold. Nokia is selling its Here mapping division, and while the company might not have the name recognition of Google, it controls about 70 percent of the auto market. The business is valued at $785 million, according to Reuters, but is likely to sell for significantly more. Case in point: Uber reportedly submitted a $3 billion bid. Apple has also been rumored to be among those interested in purchasing Here. A trio of German automotive heavyweights is mounting a challenge to Silicon Valley, though. According to Reuters speaking to two unnamed insiders, Daimler, BMW, and Audi are teaming up to submit a joint bid for an undisclosed sum. They're worried that if Here falls under the control of tech companies, then automakers might have limited availability to these vital maps in the future. Nokia bought Here for $8.1 billion in 2007, according to Reuters. The company operates a fleet of vehicles with cameras and LIDAR that drive around the world to create high-definition maps. It also generates even more information by using the GPS data from shipping and trucking companies.

The Aston Martin DBS Superleggera leads this month's list of discounts

The average price of a new car in America last year was $35,932. This month, the biggest discount off the retail price of a new car in America is awfully close to that figure at $34,001. For those keeping track (as we do every month with a post like this one), that's by far the largest discount we've seen so far this year, and it means buyers of the 2020 Aston Martin DBS Superleggera are paying an average transaction price of $273,819. The British automaker calls the DBS "the ultimate production Aston Martin." With a 715-horsepower V12 engine pulsating underhood, sufficient to push this grand touring coupe from 0-60 in a skosh over 3 seconds and on to a top speed of 211 miles per hour, who are we to argue? If that's too rich for your blood — and let's be honest, it's still a whole heck of a lotta money — the next biggest discount might be at least a little more attractive. According to data provided by TrueCar, buyers of the 2019 Mercedes-AMG GT are seeing discounts of $23,103 off the car's average sticker price of $159,995. That's a heck of a lot of car for $136,892, though admittedly still expensive. But at 14.4% off retail, it's a better deal than the $132,122 average transaction price of the 2020 BMW M8. The BMW's $16,497 discount equals 11.1% off the M8's $148,619 sticker. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide. Featured Gallery Aston Martin DBS Superleggera View 33 Photos Aston Martin BMW Mercedes-Benz Car Buying Convertible Coupe Luxury Performance Supercars consumer car values biggest discount

Mercedes spent ˆ250 million to win Formula One titles last year

Success in Formula One requires skill, diligence, commitment and ingenuity. It also takes truckloads of money. In the case of Mercedes in last year's world championship, in which it took both the drivers' and constructors' titles in dominant style, those truckloads came to ˆ250 million last season alone – equivalent to over $285m in dead presidents. A report from Germany's own Auto Motor und Sport details the staggering investment that Mercedes made in order to get to the winner's circle last season. After 15 seasons with McLaren netting one constructors' and three drivers' titles, Mercedes motorsport chief Norbert Haug convinced the Daimler board late in 2009 to take over the Brawn GP team that had just won the championship. Because the team would be getting a large payout from Bernie Ecclestone as the returning champions the following year, and with sponsors lined up, Daimler only had to pony up a small portion of a smaller budget: in 2010 (its first season under the Mercedes banner), the team ran on a budget of "only" ˆ153 million ($175m). Over the course of the following seasons, though, the team's share of the TV revenues from Formula One Management went down as Mercedes struggled to climb back up the standings, but successive advocates (including Haug, Ross Brawn and Niki Lauda) successfully convinced the bean-counters in Stuttgart to ratchet up the payments. By 2012, the budget was expanded to ˆ200 million, and further climbed to ˆ250 million in 2013 and 2014. Fortunately for Daimler, the investment was starting to pay off by then as the team finished second in the constructors' standings in 2013, bringing ˆ74 million in from Ecclestone's coffers to cover roughly a third of the budget. With Malaysian oil giant Petronas alone kicking in upwards of another ˆ30 million per season as title sponsor (as of 2009 when it signed on), and untold millions more coming in from other partners, it looks like the actual cost to Daimler for securing both world titles and a winning reputation was actually more like hundred million or so.