1969 Jaguar Xke Base Coupe 2-door 4.2l 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.

Junkyard Gem: 1973 Jaguar XJ6

It requires a certain high level of commitment to keep an old Jaguar on the road, and so plenty of first-generation Jaguar XJs end up as projects that never get finished, sitting in yards or garages for decades before winding up in the nearest U-Wrench yard. As I clomp through car graveyards around the country in search of interesting machinery, I see so many 1980s XJs that I don't bother to photograph many of them … but a genuine Series I early Jag is a different story. Here's a '73 XJ6 whose final parking space (prior to facing the cold steel jaws of The Crusher) sits right next to that of a same-year Mercedes-Benz 450SLC in an East Bay yard. How the mighty have fallen! The C107 was too picked-over to be worth photographing, but you can admire the photos of this much nicer '72 I found in Denver a few years back. Unlike the last Series 1 XJ6 that I've photographed (in the very same yard, albeit 13 years ago), this car has not had its original straight-six engine replaced by a small-block Chevrolet V8 (because Jaguar parts were expensive and Chevy parts were cheap during the 1970s, that swap happened frequently). The US-market XJ6 got 150 horsepower from this smooth-running DOHC six, 40 fewer horses than the (far more expensive) 450SLC that year. The interior looks ravaged by the decades, but you can still discern the opulence that once reigned in this wood-and-leather-lined space. The dash boasts a full complement of authentic Smiths gauges, with a tasteful Kienzle clock right in the middle. Here's why we can assume that fewer than two of those instruments functioned at any given time during the life of this car: wiring by The Prince of Darkness! Working on electrical faults in these cars built up your patience while undermining your faith in symptom-to-problem relationships. The six-digit odometer ensures that we'll never know if we're looking at a 56,819-mile car or a 356,819-mile car. I'd guess 156,819 if I had to, based on pedal wear. These cars were very popular in the Bay Area, which has been full of European-car aficionados since the first Renault AXs sputtered off the docks of the San Francisco waterfront. Back in the 1970s and 1980s, you'd never see an old XJ without one of these pre-EU "GB" stickers on the back. The faded condition of this one suggests decades of sitting in the sun, probably while the car sat dead in the driveway due to electrical problems.

Jaguar XE SV Project 8 is a 592-horsepower monster

Move over, F-Type, Jaguar has a new performance flagship. The Special Vehicle Operations division of Jaguar Land Rover applied its expertise to the XE sports sedan to create an absolute monster of a car. Named the XE SV Project 8, it features a 5.0-liter supercharged V8 pumping out 592 horsepower and 516 pound-feet of torque. That power goes through an eight-speed automatic and an all-wheel-drive system with an electronically controlled torque-vectoring rear differential. In practice, this will rocket the super sedan to 60 mph in a claimed 3.3 seconds on the way to a 200 mph top speed. The XE SV Project 8 is not only about raw power and speed, though. Lightweight carbon fiber bumpers, front fenders, and hood have been fitted. The fenders are significantly wider, too, which cover 265-mm wide tires up front, and Hellcat Widebody-rivaling 305-mm wide tires in the back. The added grip is supplemented by stiffer springs and retuned anti-roll bars and shocks. The front splitter and rear wing are adjustable, as is the ride height. Carbon ceramic brakes are also included with six-piston front calipers and single-piston rear calipers. All of these pieces should come together to make the XE SV Project 8 just as impressive in the corners as in a straight line. View 12 Photos The interior has undergone an overhaul, too. The standard model has seating for four, featuring front buckets with magnesium frames, and more sculpted rear seats. Carbon fiber and Alcantara can be everywhere throughout the cabin. All of the typical Jaguar comforts are still present, as well, including 4G Wi-Fi, climate control, LCD displays, and a 380-watt sound system. The dial shifter in the regular XE also gives way to an F-Type-style lever allowing for manual shifting via the lever instead of paddles if you so choose. There is an additional interior configuration for the XE SV Project 8 that won't be available in the US and Canada. Called the Track Pack, it completely removes the rear seats, and the front buckets are replaced with carbon fiber units. In place of the rear seats is a roll cage with harness points for fitting the included four-point harnesses. The pack also adds a fire extinguisher system along with a black roof and stripes. The Jaguar XE SV Project 8 will make its full public debut this week at the Goodwood Festival of Speed. Only 300 of the cars will be built, and all of them will be assembled at the Jaguar SVO facility.