Archives for the Tag: Auto News

Who Spends 40 Million On A Car?

Posted by admin on August 25th, 2014 in Category Auto Industry (no responses)

Apparently spending 40 million on a Ferrari is something that people do.  A red 1962 Ferrari 250 GTO Berlinetta, which was once involved in a fatal accident, has set the world record for a car sold at auction, going for $38.1 million at a sale in California, auction house Bonhams said.

The price offered on Thursday by a bidder whose identity was not disclosed surpassed the $30 million (all figures U.S.) paid last year for a 1954 Mercedes Benz W196 race car, also sold by Bonhams, the auctioneers said in a press release.

“We’ve always maintained that we would exceed the current world record and that the car would bring between $30-$40-million and today the GTO did just that,” Robert Brooks, chairman of Bonhams, said in a statement.

Some reports prior to the auction had said the car might fetch as much as $70 million, but a Bonhams spokeswoman said these were based purely on speculation.

The Ferrari was the jewel in the crown for Bonhams’ annual Quail Lodge event on the Monterey Peninsula in California.

The auction house said that it was the world’s longest single-ownership for a Ferrari 250 GTO Berlinetta, effectively held by one family for 49 years from 1965 to 2014.

The car sold from the Maranello Rosso Collection and stamped with chassis number ‘3851 GT’ was the 19th 250 GTO Berlinetta made by Ferrari and completed on Sept. 11, 1962, Bonhams said.

It was delivered to the leading French racing driver Jo Schlesser, to be co-driven by himself and French ski Champion Henri Oreiller in the 1962 Tour de France Automobile.

Oreiller later crashed the car during a race at Montlhery Autodrome, south of Paris, and died of his injuries in hospital. A newspaper report at the time said the Ferrari careered off the track and flipped twice after a tyre burst.

The car was repaired by Ferrari in Italy and was sold to Italian gentleman driver Paolo Colombo in time for the start of the 1963 competition season.

In 1965 young Fabrizio Violati, the scion of a wealthy Italian family, bought the car. “I saved the car from scrap and hid it from my parents. I only drove it at night so nobody would see me”, Bonhams quoted him as saying.  Who will be able to top this amount of money?


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The New Infiniti QX30 Will be Built in England

Posted by admin on July 10th, 2014 in Category Auto Industry (no responses)

The announcement came earlier this morning that Nissan is planning on building their new Infiniti in England to help expand its global market.  The Infiniti QX30 compact SUV will be built for global markets — including the U.S. and China — at Nissan’s factory in England, alongside the Infiniti Q30 hatchback.  Production of the Q30 will begin in mid-2015 with QX30 output starting shortly after, Infiniti Chairman Andy Palmer said.

Nissan is installing annual production capacity of 60,000 units for the two models at its factory in Sunderland, northeast England. “We plan to supply the Q30 and QX30 globally from Sunderland including to the United States and China,” Palmer said.

The Q30 will be a rival to the Audi A3 and BMW 1 series. Infiniti unveiled a Q30 concept at the 2013 Frankfurt auto show. The Q30 will be mainly targeted at Europe, where there is strong demand for premium compacts.

Palmer also said Infiniti will show a QX30 concept to preview the production model’s design, but he did not give a date for the unveiling. The QX30 will compete against the Audi Q3, BMW X1 and Mercedes-Benz GLA.

Infiniti has not said how much the Q30 and QX30 will cost, but Palmer said they will be aligned with the equivalent offerings from Audi.

The Q30 and QX30 will share a platform and engines with the Mercedes A-class and GLA models. “We are using Mercedes’ MFA vehicle architecture, as well as their 2.0-liter gasoline and diesel engines,” Palmer told Automotive News Europe in an interview on the sidelines of the Formula One world championship race here.   The Q30 and QX30 will continue to be a successfully car and Nissans move to build this vehicle in England may help further its reach into the global market.


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