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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.

2017 Audi A4 pricing drops before Detroit debut

With its spring 2016 on-sale date rapidly approaching, Audi confirms the official pricing structure for the new A4 sedan. The four-cylinder-only A4 line starts at $38,250 – a $1,400 increase over last year's model – but like the similarly priced BMW 328i and Mercedes-Benz C300, that figure climbs quickly. For one, unless you're planning on living with a front-wheel-drive Audi, you'll need to add on $2,100 for the automaker's torque-vectoring Quattro all-wheel-drive system. And unless you want the basic Premium trim, plan on tacking on $3,800 for the Premium Plus trim or $8,600 for the range-topping Prestige. What's all this mean? For that, we'll turn to the newly switched-on online configurator. The standard A4 doesn't sound like a terrible deal, offering standard bi-xenon headlights, LED taillights, three-zone climate control, leather seats, a sunroof, and a seven-inch MMI system. Moving up to the Premium Plus switches up to full LED headlights, heated front seats, a 19-speaker Bang and Olufsen 3D stereo, push-button start, and an S-line exterior treatment. Finally, the top-line Prestige's notable standard items include an 8.3-inch, nav-equipped MMI system, Audi's excellent virtual cockpit (an Autoblog Tech of the Year finalist), and a head-up display. If you're balking at the trim packs, rest easy knowing Audi has spread the options around liberally. You can get navigation and heated seats on a base model – they're $2,400 and $900, respectively – and Virtual Cockpit can be added to the mid-grade model. The base can be had with standard 18-inch wheels, while the Premium Plus allows drivers to ditch the 18s and move up to 19s. Even the top-of-the-line Prestige has a few options, including an $1,800 Driver Assistance pack (adaptive cruise, auto high beams, and lane keeping assist ) and a $1,450 Warm Weather Pack (vented front sport seats). While you can get an A4 for $38,250, you can also build one up to $55,375. Look for the 2017 Audi A4 in dealerships this spring. And head over to the online configurator to build your ideal Audi sedan now.

Forza 5 documents bringing Audi R18 E-Tron and Le Mans to game

Forza Motorsport 5 is set to come out on November 22 alongside the all-new Xbox One. As part of the launch lineup for a big new system, it shouldn't be a shock that Turn 10 Studios, the maker of the Forza series is going all out in promoting its new game. That's meant making interesting partnerships, like the one it enjoys with Top Gear.
Perhaps a less talked about alliance is between Audi and Turn 10. It's put on full display here, though, as Turn 10 documents the process of building Forza Motorsport 5 alongside Audi's quest at Le Mans, with both sides talking about what it takes to make a game and racing team work (they aren't as different as you might think).
There's also quite a bit of Le Mans and Audi-specific content coming with FM5. As with previous iterations of Forza Motorsport, gamers will have access to both the old and new Circuit de la Sarthe (the most notable difference between the two being the presence of Chicanes on the Mulsanne Straight). Audi will also be volunteering several of its vehicles for the new title, ranging from racers like the R18 e-tron Quattro and Audi Sport R8 to production rockets like the 2013 R8 V10 plus, 2006 RS4 and the 1983 Sport Quattro.