2000 Jaguar Xk8 Luxury Coupe! Loaded With Options! 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 design boss admits X-Type was a mistake

History has a way of repeating itself, especially in the auto industry. When Jaguar was owned by Ford, the British brand attempted to field a competitor for the BMW 3 Series, called the X-Type. Based on the bones of a Ford Mondeo, it aped the styling of Jaguar's flagship model, the XJ, while borrowing liberally from the Ford parts bin. That was 2001.
Now, in 2013, Jaguar is planning a new 3 Series challenger based on the platform previewed by the C-X17 Concept, while Ford is attempting to take the latest Mondeo upmarket. The moves have both brands recognizing where, why, and how the X-Type failed. "It didn't look mature or powerful or anything. It was just a car," Jaguar's current head of advanced design, Julian Thomson, told PistonHeads. Basing the X-Type on a front-drive car while giving it styling that was meant for a rear-driver lead to proportions that "were plainly wrong," Thomson told PH. Ford's European head of quality, Gunnar Herrmann, added that the X-Type was "a fake Jaguar, because every piece I touch is Ford."
For what it's worth, the X-Type's successor in the segment will sport rear-drive, with plenty of input from Ian Callum. Thomson described the new model, which would challenge the 3 Series as having, "Big wheels right to the ends of the car, low bonnet, short overhangs, very low cabins." Sounds good to us.

Junkyard Gem: 1997 Jaguar XK8 Convertible

Jaguar sold the mighty XJS grand tourer from the 1976 through 1996 model years, and I've documented quite a few of them in their final parking spaces. For 1997, the replacement for that legendary car finally arrived, in the form of the oft-delayed XK8. Here's one of those first-year cars, found in a self-service yard in Denver, Colorado recently. Development of this car's platform and general shape goes back to 1980, when endless prototypes were built and forgotten. Once Ford took over Jaguar in 1990, the abaondoned XJ41 project was revived and became the 1994 Aston Martin DB7. Fast-forward three years and you get a Jaguar-badged cousin of that car. The 1997 XK8 could be purchased in coupe or convertible form. The top on this car has seen better days. How much, you ask? A cool $69,900, which would be around $130,165 in 2022 dollars. If you wanted the Aston Martin DB7 Volante convertible that year, the price tag was $135,000 ($251,395 now). As we've seen in this series, sophisticated European machinery requires fastidious maintenance on the dot, or you get hit with repair bills larger than the car's value once it hits age 10 or so. Once a car like this reaches its fourth or fifth owner, the Clock of Doom starts ticking very loudly if it was ever neglected prior to that. It appears that preparation for body and paint work took place but was never completed. The engine is a 4.0-liter Jaguar DOHC V8 rated at 290 horsepower, same as the one in the XJ8. In 1998, a 370-horse supercharged version known as the XKR became available. The Lincoln LS and 2002-2005 Ford Thunderbird got a de-bored 3.9-liter version of this engine. The transmission in 1997 was a mandatory five-speed ZF automatic, regardless of which side of the Atlantic you lived on. In fact, every street XK8 ever built had an automatic when it left the assembly line (though I'm sure some three-pedal swaps have been performed by now). These cars aren't exactly common in your local Ewe Pullet, but they are out there.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. As some 24 Hours of Lemons racers in Texas discovered, you can buy a DB7 shell cheap at auction and then bolt in everything you need to make it a runner by stripping an even cheaper XK8 donor car.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A new breed of Jaguar. This content is hosted by a third party.