Awd Sunroof Heated Seats Leather Satellite 6cd on 2040-cars

Auto blog

Formula E is on track financially, with NYC race coming up

LONDON - Formula E could be breaking even already were it not investing for the future, chief executive Alejandro Agag said on Monday after the electric motor racing series reported continuing losses in its latest annual accounts. Accounts filed at Companies House showed Formula E Operations Ltd reduced its operating loss to 33.7 million euros ($38.32 million) at end-July 2016, a period covering its second season, from a previous 62.7 million. Net liabilities rose to 107.2 million euros from 72.1 million, while total revenues reached 56.6 million from a previous 19.7 million. "Everything is going according to plan," Agag, whose city-based series will be racing in New York for the first time on July 15 and 16, told Reuters in an interview at his London offices. "Actually we are doing incredibly well financially according to our plan. "We could have broken even this year but we decided to invest more in marketing and promotion. We decided to add races like the one in New York, which is in year one a race which is costing, we have significant capital expenditure." "It's really up to us when we want to go to break even or not. We could be in break-even now, we could be in break-even next season but we may decide to invest more in marketing and promotion." Agag said the shareholders, including John Malone's Liberty Global and Discovery Communications, were supportive of the strategy and the series had attracted more investors, sponsors and car manufacturers. The New York races will be held in Brooklyn's Red hook neighborhood, with lower Manhattan and the Statue of Liberty as a backdrop with technology partner Qualcomm securing the naming rights. MANUFACTURER INTEREST Agag, whose series plays down competition with Liberty Media-owned Formula One, said more carmakers were set to join a series increasingly aligned with their commercial focus. "I think Formula E has become the preferred destination for manufacturers and there are a few reasons for that," said the Spaniard. "Obviously, one is that it is electric and manufacturers are more and more focusing on electric cars...and we are the only platform really to help them promote that technology and those types of cars. "And second, because of the cost. The cost of the team in Formula E is very moderate." Whereas top Formula One teams can burn through $300 million a year, as can the likes of Toyota in the World Endurance Championship, the budgets of successful Formula E teams are between 10 and 15 million.

Audi prepping A5 Sportback for US market

Audi is prepping one of its European-market models for the US market. No, it's not the RS3. Or the RS6. Or even an RS model at all. Sorry. Instead, just be happy we might be finally seeing the handsome A5 Sportback on American roads. Automotive News is citing Audi of America boss Scott Keogh, who hinted that a third A5 body style would be offered in the very near future. And since there are only three A5 body styles – coupe, convertible, and Sportback – and Americans can already buy the first two, the five-door variant is almost certainly what he was referring to. "I feel confident that there will be another variant of the A5 that will be a real home run," Keogh told AN during the US launch for the new A4. Keogh then went on to make the same argument we made above, that Audi only has one more A5 body to sell over here. Audi sells the Sportback with a number of powertrains in Europe, including gas, diesel, and S performance varieties, but we'd expect the US-spec model to mimic the new A4. That means the only choice facing owners would be whether they went for front- or Quattro all-wheel drive. According to Automotive News, we can expect some kind of announcement on the A5 Sportback ahead of the second quarter of 2017, when it's expected to go on sale. We're impatient, though, so we reached out to Audi for confirmation. As soon as they respond, we'll update this post. Related Video:

Win an electric car and celebrate Earth Day

Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze. Enter to win this giveaway or any other Omaze experience now through April 23, 2021 and receive 500 extra entries into any campaign plus a chance to win $10K with code GOGREEN500. Simply add the discount at checkout. Whether you like it or not, there will come a day when most, if not all of us, will be driving electric cars. For some of us that day can't come soon enough, and in honor of Earth Day we've put together a list of our favorite car giveaways so you can save some green while being green.  Win a 2021 Porsche Taycan Turbo S and $20,000 - Enter Here If there’s one thing Porsche is good at, itÂ’s making fast, beautiful cars, and the Taycan Turbo S is no exception. Making 750 horsepower, 774 lb-ft of torque and a top speed of 161 miles per hour, punching the accelerator will surely throw you back in your seat. In fact, its 0-60 time of 2.6 seconds matches that of the quickest Porsche 911 ever made, the Turbo S. The difference between this Taycan Turbo S and that 911 Turbo S, of course, is that the only reason youÂ’ll ever need to stop off at a gas station is to fill up on snacks. That and the fact the Taycan doesn't actually have a turbo anywhere in the car. We wouldnÂ’t be reaching for a bag of FlaminÂ’ Hot Cheetos, though, because this incredibly comfortable leather interior is immaculate, and weÂ’d hope to keep it that way. Enter here for a chance to win this prize worth $220,000. Win a Himalaya Land Rover Defender 110 EV and $20,000 - Enter Here The Land Rover Defender is an icon: an intense, luxurious off-roader that turns heads and can crawl up nearly anything. The problem? For the past 20+ years it hasn't been available in the United States and it's never been what youÂ’d call environmentally friendly. But this Defender is different. ItÂ’s vintage, restored by Himalaya and itÂ’s all-electric. At 275 horsepower, you wonÂ’t be thrown back in your seat, but the 406 lb-ft of torque helps make this an incredibly capable rock crawler.