All posts by Francis Mitterrand

News

Volkswagen ID.7 Vizzion is 57.4% cheaper in China than in EU

The new electric sedan Volkswagen ID.7 Vizzion is coming to the Chinese market, and the most attention is attracted by the price of the car, which is 57.4 percent cheaper than in Germany. Why is this so, whether and in what way the Chinese authorities help manufacturers to be more competitive on the market?

The Chinese authorities subsidize domestic car manufacturers in various ways, through loans from state-owned banks, capital reserves from state investment funds or lower electricity fees. A few years ago, the Chinese government gave about one billion euros to Nio to save it from bankruptcy. However, it was not just financial support, because with that money the government bought a 24 percent stake in the company. After that, there was another financial injection from an unnamed state banking house in the amount of 1.5 billion euros. Now the government is helping Nio with 32,000 euros per car.

In order to be more competitive in China, VW reduced car prices last month, which turned out to be good, when it comes to sales. However, growth was achieved primarily through the sale of low-cost cars such as the Lavida sedan (13,345 euros), putting VW in second place with 1.56 million vehicles sold. BYD was first with 1.79 million vehicles sold, and Toyota was third with 1.24 million cars.

What may worry VW and its Chinese partners is the problem of low demand for their battery vehicles, as the company is sold 92,332 units. Compared to the biggest competitor, BYD (893,754 vehicles), the problem seems even bigger. Also, Tesla managed to sell five times more electric vehicles (433,729).

Another reason why cars made in China are cheaper compared to the rest of the world is cheap labor. A manufacturing worker there earns about a third of what an American or European auto worker earns annually. Also, Reuters recently wrote about an unnamed employee of the Changan Automobile Factory in Che-fei, who experienced a reduction in income and left his job in July, because his salary in May and June was only four thousand yuan a month (about 512 euros ), instead of 900 euros as he expected.

How the rest of the world, primarily Europe and the USA, will react to the increasing pressure that Chinese manufacturers are putting on the global market remains to be seen.

Source: VW, Reuters, NYT

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Volkswagen ID.7 Vizzion is 57.4% cheaper in China than in EU
Auctions

1988 Porsche 911 Turbo Coupe is for sale

At the 1974 Paris Auto Show Porsche presented the top-of-the-range 911 model and the fastest production car available in Germany at the time, the Porsche 930 Turbo. It was produced until 1989, and 18,770 units left the production line. One of them, a 1988 Porsche 911 Turbo Coupe is for sale.

This 911 930 Turbo is powered by a turbocharged 3.3-liter flat-six engine with factory output of 282 hp (207 kW) and 278 lb-ft (377 Nm) of torque. Power is sent to the rear wheels via a four-speed manual transmission and a limited-slip differential. The car is mounted on 16″ Fuchs alloy wheels wrapped in Bridgestone Potenza Sport tires.

The car is finished in Venetian Blue Metallic, properly maintained, it is in good condition, and it should be noted that it spent 22 years with a single registered owner before it was bought by the current owner. It is equipped with black stone guards ahead of the rear wheels, a rear window wiper, a sunroof, fog lights, a tea tray rear spoiler, dual exhaust outlets, four-wheel cross-drilled and ventilated discs. At the beginning of the year, a service was performed, which included replacing the air filter, distributor cap, spark plugs, ignition wires, engine belts, valve cover gaskets, vacuum hoses, and intercooler seals.

Inside, the seats are upholstered in Marine Blue leather, which also covers the door panels and dashboard. There’s also a four-spoke leather-wrapped steering wheel behind which is a six-digit odometer showing 59,752 miles. Additional equipment includes air conditioning, an analog clock, an alarm system, an aftermarket radio, a trunk-mounted amplifier, and power windows.

The car has a clean Carfax report that shows no accidents or other damage. It comes with a Porsche Production Specifications sheet, a window sticker, a stamped maintenance log, records, and a clean Florida title.

The auction ends on October 17 and the highest bid at the time of writing was $127,000 USD.

Source: Bring a Trailer

Gallery:

1988 Porsche 911 Turbo Coupe is for sale
Auctions

2003 Ferrari 360 Modena is up for auction

In 1999, Ferrari introduced a new sporty two-seater as the successor to the Ferrari F355, the Ferrari 360. It was produced until 2004, in two body types: Berlinetta (Modena) and Spider, and 16,365 units left the assembly line. One of them, a 2003 Ferrari 360 Modena is up for auction.

360 Modena is powered by a mid-mounted 3.6-liter Tipo F131 V8 engine with a factory output of 395 hp (290 kW) and 275 lb-ft (373 Nm) of torque. Power is sent to the rear wheels via a six-speed manual transmission and a limited-slip differential. The car is mounted on 18″ two-piece BBS alloy wheels wrapped in 215/45 front and 275/40 rear Bridgestone Potenza tires.

This car is finished in Rosso Corsa, well maintained and in good condition with only 8,514 miles on the odometer. It is equipped with an aluminum body, xenon headlights, Scuderia Ferrari fender shields, a body-color rear grille, side air intakes, quad exhaust outlets exiting through the rear fascia, and cross-drilled and ventilated rotors at each corner. At the beginning of 2023, a service was performed, which included changing the oil, flushing the coolant and brake fluid, and replacing the transaxle fluid, timing belts and tensioner pulleys, and spark plugs.

Inside, power-adjustable seats are upholstered in beige leather that also covers the door panels and the lower part of the dashboard, and there are also color-coordinated carpets. Additional equipment includes a gated shifter, aluminum pedals, a Kenwood stereo, and automatic climate control.

The car has a clean Carfax report that shows no accidents or other damage. It comes with partial service records, a car cover, and a clean Ohio title.

The auction ends on October 16 and the highest bid at the time of writing was $105,000 USD.

Source: Bring a Trailer

Gallery:

2003 Ferrari 360 Modena is up for auction