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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.

Porsche offering 250-hp 718 Cayman, Boxster in China

Porsche is studying a new approach in the lucrative Chinese market – less power. Automotive News Europe reports that the famed German manufacturer will sell less powerful versions of the 718 Cayman and Boxster in the People's Republic. In fact, the new cars are already on Porsche's Chinese consumer page. The hope, 718 chief Jan Roth told Automotive News Europe, is to replicate the success Porsche's sister company Audi has had with the TT. "A lot of the TTs that Audi sells in China, the smaller displacement 1.8-liter versions with rear-wheel instead of all-wheel-drive, are priced below that, Mercedes too," Roth said. We're guessing the comments about rear-wheel drive and a 1.8-liter engine are either typos or something was lost in translation, because Audi's Chinese website only lists a 2.0-liter engine, and most gearheads know the TT rides on a front-drive platform. Audi's success is largely down to price – 542,800 yuan ($81,549, at today's rates) for a base TT. Roth called 600,000 yuan "a magical threshold for customers in China." To hit that price point, Porsche is dropping the 718's 2.0-liter, turbocharged four-cylinder – offered North America and Europe with 300 horsepower in base form – to 250 ponies. The Cayman starts at 588,000 yuan ($88,340) while the Boxster is 598,000 yuan ($89,842). The 350-hp Cayman S will carry on unchanged. According to ANE, Roth said Porsche's Chinese strategy could drive 718 sales up to 4,500 units a year by 2017, nearly double the 2,500 Boxsters and Caymans sold in 2015. Could a similar lower-tiered strategy work in the US? We'll need to put on our speculation hats. In the US, the base car is about 81 percent of the price of the 350-horsepower S model. If Porsche were to offer the same discount for the hypothetical, 250-hp 718s, it could set the starting prices at $43,659 for the Cayman and $45,360 for the Boxster. That lines up neatly with the $43,500 TT Coupe, but this theoretical 250-hp Boxster would fall about $1,640 less than Audi's soft top. We shouldn't forget Porsche's expansive options catalog – we doubt there'd be a lot of sub-$50,000 718s on dealer lots. But still, slashing over $10,000 off the price of a $54,000 car is a big ask – Porsche would almost have to de-content such a lower-tier model. But – and this is a Kim K-sized but – moving the 718 downmarket would open the brand to a new range of consumers. Not only would these new cars be the cheapest sportscars from Porsche money could buy.

Honda China struggling with high-end Accord because Chinese covet German cars, too

It's not particularly unusual to see cheap cars in China, or those with designs stolen from foreign competitors, but increasingly the best-selling vehicles there would be very recognizable to just about any auto enthusiast. There appears to be one fact of life whether looking at car buyers in Sacramento, Stuttgart or Shanghai: People who can afford to buy premium cars often look first at the Germans.
Honda recently thought that it could challenge this perceived wisdom by including a premium Accord in the ninth-generation sedan's Chinese launch last year. The market-exclusive version was priced against the Audi A4. The venture failed, miserably.
According to Automotive News China, sales for the new Accord in China are down 37 percent through May of this year. Honda's overall sales are actually up by about 11 percent there on the strength of smaller, less profitable models. However, the company is still off its forecast 19-percent rise.