All posts by Francis Mitterrand

Auctions

2017 Ferrari LaFerrari Aperta is up for auction

At the 2013 Geneva Salon, Ferrari unveiled a limited edition sports car that was supposed to be the definitive Ferrari, the LaFerrari. Three years later, the open-top version of this model, the LaFerrari Aperta, arrived on the market. Only 210 cars were produced until 2018, and one of them, the 2017 Ferrari LaFerrari Aperta is up for auction.

LaFerrari Aperta is powered by a 6.3-liter V-12 engine (789 hp/580 kW @ 9,250 rpm) combined with an electric motor (161 hp/118 kW) with a total output of 950 hp (708 kW) and 664 lb-ft (900 Nm ) of torque, with a compression ratio of 13.5:1. Power is sent to the rear wheels via a 7-speed dual-clutch automatic transmission. It reaches 60 mph in just 2.4 seconds with a top speed of 218 mph (351 km/h).

The body of the car is made of carbon fiber, and the entire design focus was on the driver’s position, whose seat is directly attached to the floor and the rear firewall. It is equipped with a reinforced chassis, angled radiators to reduce cabin heat, a longer front air-dam to improve downforce, and a reconfigured angle for the butterfly doors, with correspondingly altered wheel arches.

This LaFerrari Aperta is finished in Nero Daytona metallic paint with Rosso racing stripes, serviced at authorized Ferrari dealerships, rarely driven and has only 2,072 miles on the odometer. It features a digital copy of the Ferrari window sticker on file, which shows that this car has extra equipment worth $113,000 (carbon-fiber hardtop and the carbon-fiber exterior package), which with the standard equipment gives an MSRP of $2.3 million.

Inside, the seats are upholstered in Nero leather with Rosso accents and embossed Prancing Horse stitching on the headrests. There is also a carbon-fiber and Alcantara steering wheel with its signature Manettino drive-mode control.

The car comes with the carbon-fiber hardtop and a canvas soft-top, battery charger, center lock socket, owner’s manuals, the OEM set of five-spoke forged alloy LaFerrari wheels, and an extended two-year Ferrari powertrain warranty.

The auction will take place on November 17 in Las Vegas, Nevada, and the estimated value of the car is $5,300,000 – $5,800,000 USD.

Source: RM Sotheby’s

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News

Ford is delaying the 12 billion dollar investment

Ford has announced that it is delaying a $12 billion investment due to huge losses in the production of electric vehicles, and predictions are that by the end of the year the loss will be almost $4.5 billion. This is due to large investments in next-generation electric vehicles and difficult market conditions.

According to the company’s report, in the last three months, Ford sold 20,962 electric vehicles, which is not bad, and the best seller was the Mustang Mach-E (14,824 units). However, the report shows an operating loss of US$1.3 billion, which means that each electric car sold generates a loss of around US$36,000. That’s definitely something to worry about.

Ford will slow down with electric vehicles, and keep the main focus on the classic range of vehicles powered by fossil fuels, because customers interested in electric vehicles are reluctant to pay a premium compared to gasoline or hybrid alternatives.

“A great product is no longer enough in the electric vehicle business. We have to be completely cost competitive. “Tesla has actually given us a tremendous gift, with a precise focus on the price and scale of the Model Y. They set the standard, and now we’re really moving forward in our second and third cycle of electric vehicle development,” said Ford CEO Jim Farley.

Ford won’t give up on electric cars entirely, but the demand from the UAW, who are seeking a 25 percent wage increase, definitely puts additional pressure on the company and will make business more difficult in the future.

Source: Ford

News

Škoda achieved an operating profit of 47.2 percent in 2023

After Porsche announced an increase in car sales in the first nine months of 2023, another European manufacturer is recording positive results. According to data for this year, the Czech car manufacturer Škoda achieved a production growth of 14.6 percent (777,500 cars), but also an operating profit of 47.2 percent to 1.26 billion euros.

“The solid trend in the first nine months of 2023 is the result of dedicated and persistent work by our team at Škoda, including our dealer organization that is the face of our brand to customers. Thanks to this performance and our robust business model, Škoda Auto continues to steer a successful course,” said Škoda Auto CEO Klaus Zellmer.

Škoda also increased sales of electric cars by 29.5 percent to 19.6 billion euros, and the highest demand was for Škoda Enyaq (+47.6%). Škoda’s expectations were much higher, but the result was significantly affected by the suspension of operations in Russia. It was primarily necessary for the company to stabilize its supply chain, after which return on sales rose 0.8 percent each year to 6.4 percent.

“By investing over 500 million euros in tangible assets like periodic IT infrastructure upgrades, we have laid the groundwork for our upcoming digital offerings. Additionally, our focus has been on enhancing our BEV portfolio to meet customer needs and intensify our sustainability initiatives. Nevertheless, as we approach the year-end, we anticipate challenges and remain committed to ensuring 2023 concludes successfully,” said Škoda Auto member of the Board of Management for Finance, IT and Legal Affairs Holger Peters.

Since January, Škoda has delivered 642,200 cars worldwide, which is 17.9 percent more than in the same period last year. The best-selling model was Škoda Octavia with 145,000 vehicles (+35.8%). “Sales of the Kodiaq and Superb also increased, and the upcoming generation of these models will add yet another chapter to their success story. With dynamic design, modern technology and even more interior space, they are sure to impress existing and new customers alike, ” said Martin Jahn, Škoda Auto Board Member for Sales and Marketing.

Currently, Škoda is working on expanding to other markets around the world, and in September it expanded its presence in the Vietnamese market, which is strategically important for the company to enter the market of the ASEAN region.

Source: Škoda