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VW has received several tentative bids for Ducati

Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany's Volkswagen, sources involved in the process told Reuters. Volkswagen, whose Audi division controls Ducati, has received several tentative bids with the Benetton family's investment vehicle Edizione Holding valuing the Monster motorbike maker at $1.2 billion, one of the sources said. As well as Edizione Holding, U.S. buyout fund Bain Capital, which owns a stake in Ski-Doo snowmobiles maker BRB, and two Indian motorbike firms, Eicher Motors and Bajaj Auto, have also bid for Ducati, the sources said. Indian carmaker Eicher controls Royal Enfield, a motorcycle brand established in 1893 which ranks as one of the oldest. Strategic bidders also include U.S. automotive firm Polaris Industries, which earlier this year said it would wind down its struggling Victory Motorcycle brand. A shortlist of bidders for a second stage of the auction could be selected as soon as Saturday, two of the sources said. Volkswagen adviser Evercore has a long list of bidders including private equity funds such as Ducati's previous owner Investindustrial, CVC Capital Partners, Advent and PAI, all hoping to outbid industry players, the sources said. If it gets to the second round, Edizione Holding could seek to form a consortium with a financial investor, two of the sources said, in a bid to secure control of Ducati, whose racers have won the Superbike world championship 14 times, with Carl Fogarty and Troy Bayliss its most successful riders. Audi, Edizione Holding, Investindustrial, Advent and PAI declined to comment, while the other interested groups were not immediately available for comment. PRICING CHALLENGES For some buyout funds, Ducati's valuation of up to $1.4 billion – which sources said is based on a multiple of more than 10 times its core earnings of roughly 100 million euros – is a tall order as they lack the synergies that some motorbike makers could achieve. But Investindustrial founder Andrea Bonomi, who sold Ducati to Audi for about 860 million euros in 2012, is serious about a comeback, one of the sources said. China's Loncin Motor was among a group of industry players that initially showed interest in Ducati, alongside Harley-Davidson. The latter has, however, decided against making a bid due to Ducati's price tag, while it could not be established if Loncin Motor had carried on bidding.

Audi TT Sportback Concept rounds out an icon

That German automakers seem singularly fixated on filling any white space between their models isn't new - the last decade-plus has seen their showrooms overflowing with niche models, some of which seemingly occupy sub-genres of sub-genres. To our eyes, there's often diminishing aesthetic and utilitarian returns to go along with the heightened price tags that accompany these models, but we're beginning to think Audi is tackling its personal diversity initiative best. Unlike the often heavy-handed designs from rivals (we're looking at you, BMW), Ingolstadt seems to be doing doing a more graceful job of carving out models between models. The latest proof of this is the TT Sportback Concept, just unveiled here at the Paris Motor Show.
After showing off its Allroad Shooting Brake Concept in Detroit and, more recently, in the Offroad Concept in Beijing amidst rumors of the TT sports car platform expanding into an entire family, we're not surprised to see this more utilitarian five-door hatchback showcar here in France. This, despite the fact that Audi already counts similarly proportioned A5 Sportback and A7 Sportback models in its lineup.
Of the TT line extension concepts, this Sportback certainly looks the most production ready, with a bare minimum of showcar tinsel masking realistic proportions and detailing. We think it's quite handsome from stem to stern, even if it's a bit familiar looking. The design incorporates Audi's trademark big-grille look with the TT's prominent arched roofline and heavily radiused fenders, along with a rear lighting graphic that subtly echoes the A3. Despite its leggy looks, the TT Sportback Concept is surprisingly compact, spanning less than a foot longer overall than the production 2016 TT despite its 4.7-inch longer wheelbase and extra set of doors. Those sleek looks come at least partially as the result of an overall height that sits 1.2 inches lower than the TT coupe.

The pre-race and first in-race report from Le Mans

The 2013, 90th anniversary edition of the 24 Hours of Le Mans has begun, tragedy marking the opening laps with the death of Allan Simonsen. We're at the track now as a guest of Audi and plan to stay through the evening, and even we haven't been able to find out what caused the accident - the only video is from just after the incident, and beyond the statement from ACO there's been no more news. The Aston Martin in the LM GTE Am class and its all-Danish drivers had taken pole in its class and was one of the favorites to win.
The pre-race report will come first, and even thought we can't spoil the race because we're only five hours into it at the time of writing, we'll put all of the news at the end in case you don't even want the updates.
Or you can go straight to the high-res galleries above.