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Seinfeld's Porsches and VWs command $22 million at auction

Jerry Seinfeld sold off parts of his private collection last weekend at the Gooding & Company auction at Amelia Island, and the comedian's prized possessions garnered an impressive $22 million. Seinfeld is a passionate collector of Porsches, and the top lot which Gooding moved from his collection was a 1955 Porsche 550 Spyder, which sold for $5.35 million – right in the middle of its estimated range. Others inline with their pre-sale estimates included a 1990 962C racer ($1.65 million), a '94 964 Flatnose Turbo ($1 million), a '66 911 ($275,000), and a '64 VW Camper ($99,000). A few lots exceeded expectations, notably a '74 911 Carrera IROC RSR that went for $2.3 million (over an estimate of $1.2-1.5 million), as did a pair of 911 Speedsters from 1989 and 2011 and a 356 Speedster from '57. Jerry's 1960 Volkswagen set a new record for Beetles sold at auction when it went for a top bid of $121,000, well exceeding its estimated $45,000 value. The '73 Porsche 917/30 Can-Am Spyder, however, sold for $3 million – which might seem like a lot of money until you realize that it was estimated to fetch upwards of $5 million. A '59 718 RSK went for only $2.86 million when it was valued at $4 million. A pair of 356s sold for $825,000 (instead of $1.25 million) and $1.5 million (instead of $2.25 million). A 993 Cup and a '58 Jadgwagen fell below expectations as well. Altogether, CNBC notes that the $22 million brought in by the collection fell well below the $28-32 million it was anticipated to raise. Far be it from us to count someone else's money, but something tells us Seinfeld won't be hurting too much after the sale. This is the guy, after all, who turned down an offer from NBC that would have netted him $5 million per episode for another 22-episode season of the eponymous show that made him famous. Related Video: Gooding & Company Sets Amelia Island Record for Single Lot and Celebrates More Than $60 Million in Sales from its 2016 Amelia Island Auction 1961 Ferrari 250 GT SWB California Spider Fetches $17,160,000, a Gooding & Company Record Selections from The Jerry Seinfeld Collection Total More Than $22.2 Million AMELIA ISLAND, Fla. (March 13, 2016) – Gooding & Company, the auction house acclaimed for selling the world's most significant and valuable collector cars with the tradition of presenting some of the greatest collections to ever come to market, realized $60,162,150 in a single day at the company's 2016 Amelia Island Auction.

Mercedes, Nissan and VW slammed by China's CCTV

Several automakers in China, including joint ventures with Nissan, Volkswagen and Mercedes-Benz, are in hot water because their dealers are allegedly overcharging customers for repairs. China Central Television, the country's state broadcaster, leveled the claims during its annual Consumer Day expose. CCTV runs these reports each year on March 15 and often takes aim at foreign companies operating within China. This year the focus fell on automakers, according to the Financial Times, and no domestic car companies were targeted. The network also accused dealers of overselling parts, and it took aim at Jaguar Land Rover specifically for problems surrounding transmission repairs, according to Reuters. The yearly stories are often criticized for focusing on outside businesses. "It panders to a certain type of nationalism as it tends to target foreign companies and rarely touches large state groups or monopolies," Qiao Mu, a journalism professor at Beijing Foreign Studies University, said to the Financial Times. Foreign automakers seem to face tighter scrutiny when doing business in China than their domestic counterparts, in general. The government there investigated several luxury brands, including Audi and BMW, last year for how they supplied spare parts and whether the components were overpriced. Some incurred fines, and Lexus decided to lower its prices. Volkswagen also experienced protests when owners felt the company wasn't handling a recall properly. The CCTV report also comes as many auto dealers in China are feeling a pinch due to high mandated sales targets from automakers. The situation was so dire in early 2015 several brands cut back sales targets and in some cases even paid the sellers to offset poor profits. News Source: Financial Times - sub. req., ReutersImage Credit: Andy Wong / AP Photo Government/Legal Mercedes-Benz Nissan Volkswagen Car Dealers Auto Repair Maintenance jaguar land rover

Volkswagen Golf GTD Variant burns the oil long and fast

Volkswagen offers no shortage of variations on the Golf theme in America, from the base hatchback and the electric e-Golf to the sporty GTI and performance-oriented Golf R. But as many as are available Stateside, there are even more that never make it here. Like the one you see above. It's called the Volkswagen Golf GTD Variant. It's based on what we'd know as the new Golf SportWagen, which is just arriving in the US now, but this one packs the performance upgrades from the Golf GTD. Isn't that a typo? Don't we mean GTI? No, we don't: we mean GTD. Because in Europe, you can get what is essentially a GTI with a diesel, complete with all (or at least most) of the gear you'd find in the petrol hot hatch, only with a 2.0-liter turbodiesel inline-four packing 181 horsepower and 280 pound-feet of torque. That may not sound like all that much as far as performance models go, but it's more than we'll be able to get from either the gasoline or diesel versions of the Golf SportWagen back in the States. And that makes us a little jealous, especially with room for the kids, the dog and all their gear in the back. World premiere of the new Golf GTD Variant - The perfect all-round package: sporty, economical, comfortable and spacious - Launch set for Geneva Motor Show Since 1982 Volkswagen's GTD logo has stood for Gran Turismo Diesel, with its promise of sporty yet economical motoring. Now for the first time, the GTD initials grace the Golf Variant, which like the Golf GTD, boasts the 184 PS (135 kW) TDI engine. The new Golf GTD Variant is set for its world premiere at the Geneva Motor Show, and is available to order as of now at a price of 31,975 euros. The Golf GTD Variant* is excellently placed to establish itself as an iconic long-distance cruiser. The 184 PS TDI engine takes the Golf GTD Variant to 100 km/h in just 7.9 seconds with the 2-litre unit delivering a maximum torque of 380 Nm – and yet this sporty Variant car boasts impressive fuel consumption figures of only 4.4 litres per 100 km. The car's sporty character is reflected in its exterior design: along with special GTD bumpers and the honeycomb radiator grille, the Golf GTD Variant also features smoked rear lights and flared sills. The look is completed by 17-inch Curitiba alloys, black roof rails and dual chrome tailpipes.