08 Factory War 10/2014 Free Lifetime Sat Rad, Service Records Finance Must See! on 2040-cars

Auto blog

$1.3B worth of classic cars were auctioned in 2014

The collector auto market in the US just continues to expand with the values of vehicles seemingly only growing in the past years, especially if they have a prancing horse on the hood. This year was no different. According to data compiled by classic car insurance agency Hagerty, there were about $1.3 billion worth of vintage rides auctioned in North America in 2014, up just slightly from $1.2 billion crossing the block in 2013. If you want an idea of just how big a role the Monterey Car Week plays in the North American collector hobby, Hagerty's stats illustrate it perfectly. The company recorded $430 million in auction sales during the week – about a third of the entire market for the year. The event also hosted the biggest seller of 2014 when the hammer fell on a 1962 Ferrari 250 GTO (pictured above) for $38.115 million at Bonhams. In fact, vintage Ferraris in general were among the top buys in the classic auto world in 2014. Eight of the ten most expensive vehicles sold at auction were Prancing Horses (the other two were Ford GT40s). Also, the insurance company's price index for these Italian stallions showed a 43-percent gain in value for the year. The market for another Italian supercar is exploding, as well. The Lamborghini Countach showed a staggering 175-percent growth in auction value in 2014. According to Hagerty, the average price when they crossed the block was $736,599. Judging by Hagerty's numbers, there were still some places to look for those hoping to spend a bit less money. The Aston Martin Lagonda showed a strong gain in value with a 32-percent increase in auction price, but they still averaged $47,078. In addition, the company's index for '50s American cars showed only one-percent growth for these classics. These huge leaps in collector car value might be winding down, according to Hagerty. It predicts growth in the market to slow to an estimated five percent gain in 2015. Maybe a few of these classics might actually become a bit more affordable to fans without such deep pockets sometime in the future. Featured Gallery Bonhams Maranello Rosso Collection: Monterey 2014 View 21 Photos News Source: HagertyImage Credit: Copyright 2014 Drew Phillips / AOL Aston Martin Ferrari Lamborghini Auctions Car Buying Performance Classics aston martin lagonda ferrari 250 gto Lamborghini Countach collector cars 1962 ferrari 250 gto auto auction

Andy Palmer leaves Renault-Nissan to serve as CEO of Aston Martin

Aston Martin has been without a helmsman since Ulrich Bez stepped down from the chief executive office at the end of last year, stepping back to serve as non-executive chairman in a semi-retired ambassadorial capacity. The British automaker, now on the cusp of a new era, has been running without a CEO since, but has now named Bez's replacement in Andy Palmer.
If you don't recognize the name, you should: Palmer has worked under the Renault-Nissan Alliance for decades now, rising through the ranks to become one of the top executives under Carlos Ghosn. Most recently he was serving as executive vice president of the entire group and chairman of the Infiniti brand, but like Carlos Tavares, who recently left Renault to run Peugeot, Palmer is now embarking on a new mission as CEO of Aston Martin.
Once the transition period is complete at the start of October, Palmer's role as Chief Planning Officer at Renault-Nissan will be assumed by Philippe Klein, who steps up from his current role as executive vice president of product planning for Renault. Read the statements from both companies below.

Lagonda All-Terrain Concept previews electric SUV shaped by planetary forces

Coming soon to an ultra-wealthy desert oasis near you is Lagonda, the spinoff from Aston Martin that will be devoted to creating luxury cars rather than sports cars. They will be electric and have autonomous driving features, and although their final production guises are still to be revealed, the Lagonda All-Terrain Concept introduced in Geneva provides a second clue as to what a production Lagonda might be like. Whereas last year's Vision Concept was a road-going quasi-sedan that mostly centered on autonomous driving, the All-Terrain Concept is going for the Range Rover crowd. Taller and obviously a crossover, Aston Martin describes it as "an ultra-stylish, supremely luxurious, fully electric, emission-free vehicle that can transport its occupants to remote and spectacular locations." It certainly isn't bereft of adjectives. Like other EVs, the concept utilizes a skateboard-style vehicle platform that spreads the battery weight low throughout the floor, which not only raises that floor to provide a more SUV-like view out, but actually lowers the center of gravity for superior handling. It also makes the car very stiff, which allows for the All-Terrain Concept's rear-hinged coach doors and flip-up gullwing roof bits. "The Lagonda All-Terrain Concept adds a hugely exciting sense of adventure to the unique brand of luxury, emission-free vehicles that Lagonda is planning to produce," said Aston Martin Lagonda President Andy Palmer in the press release. "This is a car that would be at home whisking someone straight from a glamorous red carpet event to a remote scientific research lab." Remote scientific research lab? Good grief. Who does this guy thinks his customer is, James Bond? Oh wait. The Aston design team drew design inspiration from super yachts, which can mostly be seen in the rear-leaning tail and severely swept-back profile. The high ground clearance and chunky fenders imply a certain degree of ruggedness that's not entirely dissimilar to the Rivian R1S. In terms of other styling details, well, take it away press release. "The surfacing is incredibly futuristic, with forms and shapes that look like they have been created by the huge, planetary forces of gravity fields." Okey dokey. The rear hatch is described as having a clamshell design, and it houses a thin LED strip hidden beneath a lip. This allows the light to be beamed downward and reflected out, thereby concealing the actual LED elements from the viewer. Nifty.