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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 builds 5-millionth vehicle with Quattro

Quattro, the trademark name Audi has put on its all-wheel-drive system engineered for passenger vehicles, recently celebrated its five-millionth installation. The driveline has been offered in more than 140 different vehicles since its introduction more than three decades ago.
The all-wheel-drive technology made its world debut at the 1980 International Geneva Motor Show, beneath the floorpan of the Quattro Coupé, a low-volume two-door. It didn't take consumers long to embrace Audi's innovative approach. While most four-wheel-drive systems at that time utilized heavy transfer cases or second cardan shafts, Quattro was virtually tension-free, light, compact and efficient. Most importantly, enthusiasts found it was especially suitable for sports cars.
Today, the automaker offers Quattro on its full line of passenger vehicles and it is unquestionably successful (the technology enjoyed a 43 percent take rate in 2012). On models with transverse-mounted engines (A3 and TT), Audi uses an electronically controlled multi-plate clutch with hydraulic actuator. Under normal conditions, the clutch sends power almost exclusively to the front wheels (if wheel slippage occurs, up to 100 percent of the torque may be sent to the rear). Vehicles with transverse-mounted engines (A4, A5, Q5, etc...) use a self-locking center differential sending 40 percent of the engine torque to the front axle and 60 percent to the rear under normal conditions (it is able to send the majority of the power to the axle with better traction when needed). The highest-performing Quattro systems use torque vectoring to further improve cornering grip and speeds.

Believing in evolution | 2018 Audi S4 and S5 Second Drive

Sales figures for cars in America have plummeted. In a robust overall market, where vehicle purchases have reached record-setting levels, car sales fell by an incredible 9 percent last year alone. SUVs and crossovers are drinking their milkshake, now accounting for nearly two in every three purchases, a profound shift from cars' majority dominance as recently as 2012. Audi's all-new A4 sedan was a bright spot in the brand's car portfolio in 2016, increasing by 16 percent, but A6 and A8 sales fell 18 and 17 percent respectively, and the A5 coupe's sales tanked by a shocking 35 percent. Mitsubishi sold more than three times as many Outlanders last year as Audi did A5s. Were you even aware that Mitsubishi still sold vehicles in America? This trend is expected to continue, perhaps even escalate. But Audi refuses to give up on sedans and coupes. Credit the Teutonic monomania that requires a tit-for-tat escalation and diversification into every existing and invented market segment in which its rivals from BMW and Mercedes compete or don't. (An eminently sales-resistant five-door hatchback, the A5 Sportback, joins Audi's US car lineup in a couple months.) Whatever the instigation, we appreciate it. Cars are an intrinsically more efficient, and more fun, way to move people and goods around compared to SUVs. And Audi's new S4 sedan and S5 coupe prove that we live in a golden age of cars, especially enthusiast cars. At first glance, you might not notice much of a difference between the outgoing cars and these all-new models. Part of this is because the design is extremely evolutionary – though when you start with a pair of models that so elegantly nailed their respective categories, it makes sense not to smash the mold. Closer examination will reveal additional facets, creases, and muscularity in the revised designs. It will also reveal greater differentiation between the related pair, especially around the headlamps, grille, and hood, all of which are meant to be more sporting and exclusive on the two-door, a play to fit with its more sporting and exclusive nature. You might place your faith in other more magical ideas, but we're believers in evolution. The interiors of the cars are similarly evolutionary, and also far more similar. This is not a bad thing. Audi continues to excel in cockpit innovation. We credit it with reinventing the dashboard with the amorphously shaped LCD-screened Virtual Cockpit.