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Mexico to auction Lamborghini, other seized assets to help poor

MEXICO CITY — Mexico's government will auction a Lamborghini, homes and other assets seized from gangsters and at least one former politician, officials said on Tuesday, part of a "Robin Hood" program to use millions of dollars in ill-gotten gains to aid the poor. The first auction, set for Sunday, will seek bids for 77 vehicles with a total starting price of around $1.5 million, Ricardo Rodriguez, head of the newly created Institute to Return Stolen Goods to the People, said at a news conference. "Before, this worked like a reverse Robin Hood ... taking from the people and giving to the corrupt. Not anymore," Rodriguez said. The proceeds will go to two municipalities in the southern state of Oaxaca, which President Andres Manuel Lopez Obrador said are among the poorest in the country. The vehicles up for auction include Porsches, Corvettes, Mercedes-Benzes, a Mustang convertible and a 2007 Lamborghini Murcielago. A 2017 report by the Organisation for Economic Cooperation and Development noted that recent studies estimated Mexico lost between 5% and 9% of its gross domestic product (GDP) to corruption annually. Since taking office in December, Lopez Obrador, a leftist, has rolled out a string of welfare programs for the poor and the elderly, cut salaries for top civil servants and said he is saving public money by eliminating corruption. He announced plans for a "Robin Hood" institute in April. The Mexican president, who has shunned the often luxurious trappings of the country's wealthy elites and was known to drive through the capital in a modest white Volkswagen Jetta, added that two cars and an ambulance donated by the King of Jordan will go to the National Guard, a new security force. One of the auctions will seek to sell three homes worth at least $7 million, including one with an indoor pool in an upscale Mexico City neighborhood. The money will go towards a youth drug rehabilitation program. Proceeds from another auction of jewelry seized from organized crime groups will go to communities in the mountains of Guerrero state, where many families struggle to eke out a living by growing opium poppies. Not all the assets come from drug lords. Rodriguez said one of the homes up for auction belonged to a former politician. Reporting by Daina Beth Solomon.

Lamborghini Squadra Corsa previews 830-hp hypercar and racing Urus ST-X

At the conclusion of last year's Lamborghini Super Trofeo series, the Sant'Agata Bolognese carmaker's Squadra Corse division unveiled the SC18 Alstom. That was a one-off, customer-commissioned, extreme track car based on the Aventador SVJ, and the first wholesale creation from the racing department. At this year's series finale in Jerez, Spain, it teased a limited-run hypercar and an evolution of the race-bound Urus ST-X. The hypercar proves a rumor from earlier this month, when a poster at the McLaren Life forum said he was "Going to spec next week and test drive the SVR V12 track version of AV," that AV standing for Aventador. Lamborghini says the track-only car, designed by the company's Centro Stile department, will debut next year. The rumor had posited the hypercar as a ne plus ultra expression of the Aventador's 6.5-liter V12, and that seems to be the case. Engineers extracted 830 horsepower from the naturally aspirated engine, 70 hp more than found in the SVJ. In place of the road car's seven-speed, single-clutch ISR transmission, the unnamed hypercar uses a six-speed Xtrac sequential gearbox, and a mechanical limited-slip differential can be adjusted by the driver for preload. The standard Aventador chassis has been reworked around that powertrain for aerodynamic and safety reasons. The front structure's made of aluminum, a more pliant — and less expensive — material to deal with in case of incidents on the track. The engine's been wrapped in a steel cage in order to increase torsional and bending stiffness. Airflow improves thanks to dual intakes on the hood, an airscoop over the cockpit, and a stonking rear wing.  Lamborghini Urus ST-X View 3 Photos The Urus ST-X has undergone a few changes since its debut last year. The Verde Mantis SUV has been lightened by about 25 percent compared to the production version with "a lighter structure," a vented carbon fiber hood and rear wing, and a racing exhaust. The cabin's luxurious appointment are replaced by a roll cage, racing seats, and a fire suppression system. Scheduled to make its race debut at the end of October 2020 in Misano, Italy, the first pilots to get a chance behind the wheel will be winners of the four classes in the Super Trofeo series.

Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video: