1983 Jaguar Xj6 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.

Jaguar C-X17 Concept teased before Frankfurt

Just ahead of the Frankfurt Motor Show, which begins September 10, Jaguar is teasing the reveal of a design study to introduce its new advanced vehicle architecture. Dubbed the C-X17, the mysterious concept "illustrates the diversity of vehicles that could be produced using this architecture, which underpins the innovative future of the Jaguar brand."
While it's not entirely clear what this architecture involves or what type of vehicle the C-X17 may be, this reveal is reminiscent of Jaguar's decision to unveil the C-X16 concept, a hybrid electric sports car, in Frankfurt in 2011. From the looks of the teaser image Jaguar released (click above to enlarge), we're guessing the C-X17 will be something between a low-slung crossover and a sporty wagon. But we won't have to wait too long to find out - Jaguar is streaming the live pre-show reveal to invited guests on its Facebook page on Monday, Sept. 9.
In addition to the C-X17, Jaguar be showing off the performance-oriented XJR and XFR-S, and, of course, the F-Type convertible. Scroll down for the official press release.

Junkyard Gem: 1994 Jaguar XJ12

While Americans were able to buy new Jaguar two-doors with V12 engines under their bonnets from 1971 all the way through 1996, availability of new Jaguar 12-cylinder sedans was much spottier here. The Series 1 and Series 2 XJ12s were sold here from the 1973 through 1979 model years, and then there was a grim Jaguar V12 four-door drought here all the way until the 1994 model year. Here's one of those very rare felines, found in a Northern California boneyard in April. Jaguar had developed the XJ40 successor to the Series 3 XJ over an agonizingly protracted period that spanned the British Leyland era of the early 1970s through the first production cars being shown to the world in 1986. The XJ40 first appeared in the United States as a 1988 model. The following year, the Ford Motor Company bought Jaguar. The engineers in Coventry struggled to design a viable V12-engined XJ40 for years, giving it the XJ81 designation. At long last, the XJ81 was revealed to the motoring world in 1993… just prior to the replacement of the XJ40 by the XJ300 for the 1995 model year. All of the XJ81s sold in the United States—just over 1,500 of them in all—were 1994 models. This junkyard provided a bonanza of rare European iron when I stopped by on that chilly spring morning. Located within a few rows of this one-year-only XJ81 were a Volkswagen Phaeton and a Rolls-Royce Silver Shadow. The yard also had a running Peugeot 504 for sale in their "builders" section, and I'll admit I was very tempted by it. The April 1994 production date indicates that this is one of the very last members of the XJ40/XJ81 family to be built (though Jaguar continued to use platforms derived from the XJ40 until the X350a arrived as 2003 models). This 6.0-liter engine was an excruciatingly tight fit in this engine compartment (there are semi-credible tales that the XJ40's engine compartment was made so narrow as a sneaky office-politics means of preventing British Leyland from installing Rover V8s in Jaguars), and working on it must be a mechanic's nightmare. Output was 301 horsepower and 336 pound-feet. Meanwhile, Mercedes-Benz's V12 was rated at 389 horsepower and 420 pound-feet, while BMW's V12 had 296 horsepower and 332 pound-feet. The MSRP for this car was $73,200 for the dual-airbag version (and we can see that both airbags were deployed in this car's career-ending crash). That amounts to $151,889 in 2023 dollars.