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Audi pours $28 million into Silvercar rental company

Want an Audi waiting for you when you land at the airport? Silvercar is the place to turn. The rental car company exclusively stocks fully loaded silver examples of Ingolstadt's finest at airports across the country, available to book via smartphone app with no lines or paperwork. And now the automaker whose vehicles make up its fleet is investing big in the company. Audi's $28-million Series C investment is earmarked to help Silvercar expand into new markets. The company only started in 2012 and already runs locations at airports in Los Angeles, San Francisco, Miami, Orlando, Phoenix, Dallas, Austin, and Denver. In the last six months alone, it opened new locations in Las Vegas, Fort Lauderdale, Chicago, and New York as well. Aside from promoting the rental operation, Audi and Silvercar will collaborate on developing the Audi Shared Fleet program to allow companies to loan vehicles out to their employees. Audi of America chief Scott Keogh will join the Silvercar board, along with Ken DeAngelis from Austin Ventures, which contributed Series B funding alongside Facebook co-founder Eduardo Saverin. Audi to lead $28 million Series C equity issue by car rental innovator Silvercar January 04, 2016 | HERNDON, Virginia - Largest equity issuance yet by Silvercar - Funding will help Silvercar and Audi launch the new Audi shared fleet, a turnkey transportation solution on corporate campuses - Investment extends the Audi connection with Silvercar, which bases its fleet exclusively on silver Audi vehicles Audi is leading a new $28 million Series C equity issuance by Silvercar, the next-generation car rental company. The capital raise is the largest yet for Silvercar, which was founded in 2012 with a fleet consisting of silver Audi models. The Series C announcement comes as Silvercar unveils its enhanced digital and mobile platforms designed for an optimized user experience and expands into Las Vegas, its 12th market, all of them in the U.S. Silvercar also received funding from Series B investors, including Austin Ventures and Eduardo Saverin, co-founder of Facebook. The funding will enable Silvercar to accelerate its award winning airport car rental business and expand to new markets nationwide. Additionally, as part of the next phase of the Silvercar partnership with Audi, the companies will work in tandem to develop Audi Shared Fleet, a turnkey solution for businesses looking to provide accessible transportation to their employees on corporate campuses.

Audi rumored to buy Alfa Romeo, officials deny it

For more than two years, Volkswagen has been making public statements about its willingness to buy Alfa Romeo and quadruple the Italian brand's sales, and for just as long, Fiat CEO Sergio Marchionne has replied with some version of "Mr. Piëch, drop it." According to a report in Ward's Auto, all that jousting might be over: it claims that sources close to both Marchionne and Audi CEO Rupert Stadler admit that the two are in talks for Audi to buy not just Alfa Romeo, but a production plant in Italy. In fact, a final deal could possibly include partsmaker Magnetti Marelli.
Against that backdrop, a report by German news weekly Stern quotes a Fiat spokesmen as saying it doesn't comment on rumors and an Audi rep has said flatly that "There is no substance in the news." If a sale is being arranged, the timing would seem to point to how eager Fiat is to raise cash to complete its major initiatives. Even though Alfa Romeo continues to delay its return to the US, it just showed off the production version of the 4C at the Geneva Motor Show (shown above) and said that preferred Fiat dealerships here would get them. Then there's Alfa's recently concluded deal with Mazda to develop a roadster based on the next generation MX-5 Miata - a deal that would seem to help both the Italian and Japanese brands.
The monetary issues are troublesome, though. Fiat is taking a beating in the European market and its weak-kneed balance sheet is delaying gotta-have-it products like the Jeep Cherokee. Fiat has been talking to banks about getting money to buy the rest of Chrysler and those financial institutions have also raised issues about debt and cash reserves, and the nasty game of chess Fiat is playing with the United Auto Workers (and now the court system about the portion of Chrysler it doesn't own) could end up blowing another hole in Marchionne's plans. It is possible that this could finally have convinced Fiat to at least see how serious Audi's parent company, Volkswagen, is about buying Alfa Romeo. Or it could be just another rumor.

2017 Audi S4 Avant is what forbidden fruit looks like

Take a good look at this lemon yellow Audi S4 Avant at the Geneva Motor Show, because you're not going to see one on the road in the US. That's really a shame, too, because for a family that wants to combine performance and utility, this seems like a great package. The S4 Avant takes the wonderful aspects from the latest S4 Sedan and adds just a little more to sweeten the deal. Drivers still get a turbocharged V6 and eight-speed transmission. Plus, Audi's famous all-wheel drive system and torque vectoring provide tons of traction whether motoring through a snow storm or taking a corner. In addition, customers get up to a massive 53.3 cubic feet of cargo space in the wagon, versus 17 cubic feet in the sedan. The only downside of the extra room is that the 0-62 sprint takes 4.9 seconds in the long roof versus the 4.7 seconds of the sedan. We'd take that trade-off. The Avant even looks better. Neither version is ugly, but the longer roof flows beautifully to the raked rear hatch. The result looks more elegant than the four-door. Unfortunately, these advantages simply add to the S4 Avant's status as very sweet forbidden fruit. American tastes might turn from crossovers to wagons someday, but until that unlikely prospect happens, enjoy these great shots of an enviable vehicle. Related Video: From 0 to 100 km/h (62.1 mph) in 4.7 seconds with fuel consumption of less than 7.4 liters of fuel per 100 km (31.8 US mpg) – the new Audi S4* and the new Audi S4 Avant* are advancing to the peak of the competitive field with strong performance and exemplary efficiency. Its newly developed turbo V6 engine outputs 260 kW (354 hp). New solutions in networking and assistance systems round out its features. Audi is transferring many technologies from the full-size class into the mid-size class. Lightweight and strong: the 3.0 TFSI The strong heart of the two new S models from Audi is a newly conceptualized 3.0 TFSI engine. The direct gasoline injection engine with turbocharging has an output of 260 kW (354 hp) and produces a hefty torque of 500 Nm (368.8 lb-ft) from 1,370 to 4,500 rpm. In terms of power and torque, it surpasses the previous model while achieving considerably lower figures in weight and fuel consumption. The turbo V6 engine accelerates the Audi S4 from 0 to 100 km/h (62.1 mph) in 4.7 seconds, and on up to an electronically governed top speed of 250 km/h (155.3 mph). The standard sprint takes two tenths of a second longer in the S4 Avant.