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Bonhams sells '85 Audi Sport Quattro for record $427k at Goodwood

1960s Ferraris and pre-war Bugattis tend to fetch the highest prices at auction, but the Audi Sport Quattro is coming into its own. Just this past January in Scottsdale, RM Auctions sold one for an investment-worthy $401k. But during its sale at the Goodwood Members' Meeting this past weekend, rival auction house Bonhams set a new record for the prototypical hot hatch at GBP287,100 – equivalent at today's exchange rates to over $427,000. The pristine white 1985 example has had three owners to date and 26,000 miles on the odometer, and was joined by a 1982 Audi Quattro A1 Group B rally car that won the 1983 championship and sold for nearly as much as its road-going counterpart at GBP253,480 ($377k). Those weren't even the highest-grossing lots at the auction though. The headline price was achieved by a 1959 Frazer Nash Le Mans Coupe that sold for a nice round GBP470,000 ($700k). Other highlights included a 1962 Aston Martin DB4s that went for the equivalent of $382k and a '66 Aston DB6 Vantage that brought in $288k. This was just the first of three auctions that Bonhams will hold at Goodwood this year, with the Festival of Speed scheduled for June 26 and the Revival for September 12. 1980S MOTORING LEGENDS LEAD THE WAY at Bonhams Goodwood Members' Meeting sale 21 Mar 2015, Goodwood 73rd Members' Meeting The ex-Kitty Maurice 1959 Frazer Nash Le Mans Coupe was the top lot of the day, selling for GBP470,000. 1980s models achieved excellent prices, with the 1985 Audi Quattro Sport SWB Coupe setting a new world auction record for the model at GBP287,100, and the ex-works, Hannu Mikkola/Arne Hertz 1982 Audi Quattro A1 Group B Rally Car selling for GBP253,480. The first of three Bonhams auctions scheduled at Goodwood for 2015, the Sale saw three-quarters of motor cars finding new homes. Restoration projects also proved popular, with a 1962 Aston Martin DB4 Series IV Sports Saloon achieving GBP256,860, and a 1963 Porsche 356B Super 90 Coupe doubling estimate at GBP32,200. Bonhams inaugural Sale at the 73rd Goodwood Members' Meeting showed a strong trend for iconic 1980s sports cars, achieving a new world auction record for an Audi Quattro as the hammer fell at GBP287,100 for the 1985 Sport SWB Coupe model.

Audi spending an additional $2.5 billion on expansion through 2019

Every year, it seems the Volkswagen Group announces a new and larger spend to push growth and profit, with Audi a regular recipient of the moolah. That's reasonable, seeing as hauls in 40 percent of Group operating profits. In December last year Audi said it would spend an additional 100 million euros ($122M US) per year through 2018 to develop new models and expand production, targeting 60 models by 2020 and luxury sales leadership. This month Audi said it will boost that by another two billion euros ($2.5B US) over the next five years, for a total outlay of 24 billion euros from 2014 to 2019. Something like 70 percent of those billions will be spent on new models, technology like "connectivity and lightweight construction," and factory expansion at its plants in Ingolstadt and Neckarsulm. Most of the ten models that will plump the lineup to 60 cars will mainly be aimed at the C and D segments, as well as crossovers, the brand's burgeoning portfolio of PHEV models, and all-electric cars that will begin staking ground in the segment. The big spend comes at the same time as Audi is working hard to reduce costs by $2.5 billion to maintain profitability, part of a larger push by VW to cut costs by $6.1 billion by 2017. More than a billion euros will go to new factories in Mexico and Brazil. Work begins on the Mexico plant next year, and when it comes on-line in 2016, Audi's Q5 successor will roll out of its warehouse doors; Audi has already announced it will hire 850 more workers next year in Mexico. When that's done, Mexico's production of German luxury cars will only trail that of Germany, China and the US. The company's Brazil plant will produce the A3 and S3 starting next year, and the brand figures luxury car buying there will triple by 2017. News Source: Reuters Earnings/Financials Plants/Manufacturing Audi Volkswagen Luxury Mexico Brazil ulrich hackenberg

2016 Audi RS 7 Performance Quick Spin

Audi's roster of Sevens – the A7, S7, and RS 7 – gets a new and overachieving member with the new RS 7 Performance. The big story is that it ups the RS 7's 560 horsepower to 605. And while the advertised torque rating of 517 pound-feet doesn't change, Audi says the car will actually produce 553 lb-ft during moments of overboost. Hunkered-down with 21-inch wheels filling the wheel wells, the RS 7 Performance has a top speed of 190 miles per hour, and runs to 60 mph in 3.6 seconds – our informal stopwatch tests suggest that may even be conservative. We drove the RS 7 Performance in Florida, which included an eventful lap around Daytona International Speedway's road course, just prior to the Rolex 24 Hours at Daytona. More about that in a moment. Driving Notes The RS 7 Performance is pretty rough-riding at its softest, a problem only on bad pavement and roads with dips. It isn't punishing, but it never lets you forget this is a performance luxury car, in that order. The eight-speed Tiptronic automatic transmission is a sweetheart, never confused and always standing by to maximize the 4.0-liter, twin-turbocharged V8's muscle. It would have been nice to be able to dial in a little extra exhaust sound – what you can hear makes you want more. The RS sport seats, with optional Valcona leather and Alcantara inlays and steering wheel cover, are excellent. There's a reason why Audi is a template for automotive interior designers. Rear seat room is a little tight but tolerable. As for that lap at Daytona: We were only given one, so we went for it, and hit 164 mph on the back stretch before having to wade deep into the ABS for the bus stop turn. The engine was still pulling hard – we have little doubt the advertised 190 mph top speed is accurate. While the big ceramic brakes did their job, we weren't given a cool-down lap, and the combination of 4,500 pounds and 164 mph seemed to have set the front brakes on fire. No, really. It took a spritz of water to drown them out. We were told that it isn't unusual for ceramic brakes, the first time they hit 800 degrees, to burn out some impurities. Afterwards, the brakes worked fine, but we sure got a lot of attention from the IMSA Rolex crew on pit road. The RS 7 Performance is a viceless car, one we'd cheerfully drive for a very long time.