2007 Jaguar Xk Convertible Navigation Black Loaded 19 Wheels Two Owner Wow$$$ 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: 1995 Jaguar Vanden Plas

Sold in Europe as the Daimler Six, the 1995 Jaguar Vanden Plas had all the luxury bling that mid-1990s high-rollers needed. This one now resides in the imports section of a self-service wrecking yard near Denver, just like any ordinary Jetta or Lanos. The Vanden Plas name started out in Belgium in 1870, eventually ending up as a British Leyland brand via the Austin Motor Company. 2009 was the last year that luxo-Jags were slugged with the Vanden Plas name. Ford owned Jaguar by this time, of course, but the engine in the XJ6 series remained a traditional Jaguar straight-six. This one is a 4.0-liter rated at 245 horsepower. After 1997, the Jaguar sixes were gone from the XJs, replaced by V8s. The MSRP on this car was $62,200, which amounts to about $102,000 in inflation-adjusted 2017 dollars. It costs real money to keep a car like this running correctly, and once maintenance corners start getting cut... well, the end is near. You should feel fear when you see this. This car is battered and many parts have been yanked by junkyard shoppers, but try to imagine it when it had that new Jag smell. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Built in the proud new spirit of Jaguar.

Jaguar's ambitious turnaround plan will put a big focus on the American market

Land Rover is on a roll, but it's been awhile since we've heard from sister company Jaguar. The company is concocting yet another turn-around plan, and recently-appointed CEO Adrian Mardell provided several details about what's in it and it means for the American market. Speaking to industry trade journal Automotive News Europe, the chief executive conceded that mistakes have been made. "[Jaguar] was incredibly successful in North America 25 years ago, before we took the compromises and the decisions we made," he explained. He stopped short of providing specific details but pointed out that Jaguar's best days have been "lost within Ford Motor Company data." If you need a crash course in Jaguar history, Ford bought the brand from British-Leyland in 1990 and sold it to India-based Tata in 2008. Mardell, who joined Jaguar Land Rover in 1990 and watched the group embark on a roller-coaster ride, sees big potential for growth on Ford's home turf. "There are 20 million millionaires in the United States alone. So, a lower volume [and a] higher price positioning is absolutely the right position for Jaguar today," he opined. In contrast, Jaguar has largely aimed for mainstream segments in recent years. The publication added that Jaguar's master plan calls for moving upmarket to fight in the same arena as Bentley and Porsche. As of writing, most buyers and journalists consider Jaguar an alternative to brands like Audi, BMW, and Mercedes-Benz, and its current portfolio reflects this positioning: The XF competes in the same segment as the 5 Series, for example, while the F-Pace goes head-to-head against the X5. Moving upmarket is easier said than done, and there's no word yet on precisely how Jaguar will pull it off. We know that it's starting from scratch; it canceled the new XJ months before the big sedan's unveiling. Automotive News Europe learned that one of the models being designed to jump-start the brand is an electric four-door GT that will cost about GBP100,000 (around $128,000) when it goes on sale in 2024. Looking further ahead, the brand will continue to expand by launching two additional electric models. Their design will "split opinion." "What we will not worry about is being loved by everybody, because that is the kiss of death. That is what put Jaguar in the situation it is in today, which is with no equity whatsoever," outspoken JLR chief creative officer Gerry McGovern recently told a group of investors.