2007 Audi Q7 4dr Suv Prem Qt (cooper Lanie 317-837-2009) on 2040-cars

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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 R8 LMX illuminates the City of Light with lasers

Hard as it may seem to believe, the Audi R8 has been around for the better part of a decade. But does that make us love it any less? Hardly, especially not when Audi keeps rolling out ever-more enticing versions like the one you see here.
Debuting at the Paris Motor Show, the new Audi R8 LMX is the most powerful version of the supercar we've seen yet, thanks to a 5.2-liter V10 engine tuned to deliver 570 metric horsepower. That's 562 by our count, making it ten horses more potent than the R8 GT, or 37 more than the standard ten-cylinder R8 5.2 FSI - enough to propel the LMX to 62 in 3.4 seconds.
That's not all that sets the LMX apart, however, as Audi has fit it with cutting-edge laser-beam headlights. It comes exclusively as a coupe in Ara Blue with carbon fiber trim, special wheels, red brake calipers and a black leather cockpit. Only 99 examples will be made, and with those laser headlights banned in the US, your best chance of seeing one is in the gallery of live images above.

40+ cars that barely avoid the gas guzzler tax

The Gas Guzzler schedule, with mpg ratings and charges that haven't changed since 1991, lays out which fuel-swillers owe what to Uncle Sam.
I started thinking about the "Gas Guzzler Tax" - considerably less well known as The Energy Tax Act of 1978 - when I was driving Dodge's new Challenger SRT Hellcat last week. Unsurprisingly for a car that can burn 1.5 gallons of gas per minute at max tilt, theoretically able to empty a full tank of premium in about 13 minutes, the Hellcat will be subject to the Gas Guzzler Tax schedule when it goes on sale.