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Exotic cars caught on video racing on neighborhood streets in Beverly Hills

A pair of supercars caught on camera racing around a quiet Beverly Hills neighborhood last week has residents fearing for their safety. The video shows a white Porsche 911 and a yellow Ferrari LaFerrari as they clipped parked cars and blew through stop signs while residents of the upscale community watched in horror. Freelance cameraman Jacob Rogers shot the video of the supercar shenanigans. He later confronted a man outside the house where the Ferrari eventually parked. He asked the man if he cared that he was endangering people's lives. The man became combative and claimed he had diplomatic immunity. "He told me verbatim, 'I could have you killed and get away with it,'" Rogers told NBC Los Angeles. "I told him, 'the press is allowed to be here on the sidewalk on a public street.' He said, '(Expletive) America' and threw a cigarette at me." The Ferrari's plates are from the oil-rich country of Qatar. The race ended with the Ferrari pulling into the driveway of a $45,000-per-month rental home, its engine compartment smoking. Police can be seen arriving in the neighborhood. Los Angeles police are currently investigating the incident. Even though the LaFerrari was still smoking when police arrived they haven't filed charges because no officer witnessed the illegal activities. When police approached the owner of the vehicle he denied doing anything illegal and again claimed diplomatic immunity. Police told NBC they are in contact with the State Department about the man's diplomatic status and the legality of the cars in the neighborhood. Beverly Hills isn't the only swanky zip code plague by hotshot supercar owners. Some of the most expensive homes in London can be found In the Knightsbridge neighborhood - and some of the most expensive cars as well. This summer, the local council of Knightsbridge and nearby Chelsea began exploring a Public Space Protection Order that would fine drivers who rev their engines, drag race on residential streets or blare music, according to Reuters UK. News Source: NBC Los Angeles Government/Legal Ferrari Porsche Racing Vehicles Supercars Videos illegal

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

Janis Joplin's psychedelic Porsche nets $1.76M at auction

Even though she famously asked the Lord for a Mercedes-Benz, Janis Joplin loved her 1964 Porsche 356C Cabriolet with its psychedelic mural called History of the Universe. The mind-bending droptop went for an amazing $1.76 million at a recent RM Sotheby's auction in New York City and shattered the original estimate of between $400,000 and $600,000 for the sale. Seven bidders in a fight over the trippy car helped push up the price, and this is now the most ever paid for a 356 at public auction. According to RM Sotheby's listing, Joplin bought the Porsche used in 1968 and quickly gave it to a roadie for her band Big Brother and the Holding Company to create the mural. He covered the entire exterior with a variety of motifs including a landscape across the passenger side, butterfly on the driver's door, a rainbow connecting two faces at the back, and an eye on the front. Joplin proudly drove the convertible regularly until her death at just 27 years old in 1970. After the singer's passing, Joplin's siblings eventually took control of the groovy Porsche but made the odd choice to repaint the car in the original Dolphin Gray. They eventually realized that was an awful idea, and two artists used photos to recreate the mural. The family then loaned the 356 to the Rock and Roll Hall of Fame in Cleveland, OH, in 1995, and this auction was the first time the convertible went up for sale since Joplin bought it. You can get a great look at all the psychedelic details in the gallery above. PSYCHEDELIC JANIS JOPLIN PORSCHE SHATTERS ESTIMATE, BRINGS RECORD $1.76 MILLION IN NEW YORK CITY NEW YORK (December 10, 2015) - Tonight at the RM Sotheby's 'Driven By Disruption' auction in New York City, The Janis Joplin 1964 Porsche 356 C 1600 SC Cabriolet sold for $1,760,000*, well over the pre-sale estimate of $400/600,000. Spurring a spirited bidding contest between collectors in the room and on the phones, seven bidders competed for the iconic daily driver of legendary rocker Janis Joplin. The outstanding sales price represents a new record for any Porsche 356 sold at public auction. Purchased by the Queen of Rock'n'Roll from a used car lot in 1968, Joplin engaged Dave Richards, a friend and roadie with her band, Big Brother and the Holding Company, to customize it with a psychedelic 'History of the Universe' mural, rendering it one of the first true 'art cars' and one of the most famous and important Porsches of all time.