Property

1956 Ferrari 290 MM Sells for $22 Million on the Block

Motortrend News Feed - Tue, 12/11/2018 - 22:20

Another classic car auction, another multi-million dollar Ferrari sale. Ferraris have long been king when it comes to high-value post-war auction results, and this past Saturday, a 1956 Ferrari 290 MM sold to a new owner for a huge $22,000,005. The venue was RM Sotheby’s first Petersen Automotive Museum auction in Los Angeles, California and the car was a true gem from the early years of the storied Italian automaker.

The 1956 290 MM, chassis number 0628, was originally a factory race car, driven by some of the greatest names in the 1950s international racing scene. Legends such as Phil Hill, Juan Manuel Fangio, Peter Collins, Olivier Gendebien, Sir Stirling Moss, and Wolfgang von Trips all had stints behind the wheel of #0628, which even today still has its original bodywork, engine and transmission—rare for a frequently raced car from this period.

Further, #0628 was given a full restoration to the livery it wore in the 1957 12 Hours of Sebring by Ferrari Classiche, the brand’s in-house restoration service, and was fully authenticated at the same time.  During the 1956 racing season, the car was run with a four-cylinder, 3.5-liter 860 Monza-type engine and finished second at that year’s Mille Miglia road race.

In 1957, a new 3.50 liter 290 S engine replaced the original and in this guise the car finished third overall in the 1957 1000 KM of Buenos Aires. The engine was replaced again prior to the start of the 1957 12 Hours of Sebring,  this time with a 290 MM V-12 with single overhead camshafts vs the 290 S’ twin cam configuration. Unfortunately, the car recorded a DNF at Sebring and ended its campaign under the Scuderia Ferrari team, being sold on through American importer Luigi Chinetti to private ownership.

Other notable sales at the Petersen Automotive Museum auction included a 1971 Lamborghini Miura SV consigned by television and radio personality Adam Carolla, which sold for $2.2 million—in line with the pre-sale estimate. Carolla also sold a 1965 Lamborghini 350 GT for $555,000. Meanwhile, a 2005 Porsche Carrera GT brought $775,000, a 2015 McLaren P1 sold for 1,435,000, and a Euro-spec 1989 Ferrari F40 did very well at $1,545,000.

Among those cars not to sell were a 1987 Porsche 959 Komfort with a high bid of $870,000, a 1989 Ferrari Testarossa at $105,000, and one of the event’s star cars, a 1964 Shelby 289 Cobra with a high bid of $840,000. In all, RM Sotheby’s managed a less-than-stellar 79% sell-through rate for the sale, likely hampered by unrealistic consigner expectations.

While most cars were bid to values well beyond the means of typical collectors, we were quite fond of a 1961 Morgan Plus 4 roadster which sold for a relatively affordable $29,120 and had the curb appeal of something twice that price.

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Categories: Property

Albert Biermann Poised to Head Hyundai Motor Group R&D

Motortrend News Feed - Tue, 12/11/2018 - 22:14

A new report has revealed that Hyundai Motor Group will once again go through an executive shuffle, this time in its R&D division. Sources close to the matter told Reuters that two R&D vice chairmen have offered to resign from their positions. If those resignations are accepted, Albert Biermann, who was hired from his previous post as head of BMW M, would be named the next head of R&D for the entire Hyundai Motor Group.

This comes after a recent change-up that saw Euisun Chung, son of Hyundai Motor Group founder Mong-Koo Chung, become executive vice chairman. The move also occurs right as Hyundai’s profits are down two-thirds due to recall costs in the U.S. and weak sales in two key markets, the U.S. and China.

One person close to the issue said that the shake-up is part of a generational change being pushed by the younger Chung and could be announced as early as Wednesday. The two R&D vice chairmen who offered to leave, Woong-chul Yang and Moon-sik Kwon, declined to say why they did so because they are not authorized to speak with the media.

Alongside designers Peter Schreyer, who now serves in an advisory role, and Luc Donckerwolke, Biermann was one of a number of non-Korean executives brought in by the automaker. Since his arrival, two more former BMW M engineers, Fayez Abdul Rahman and Thomas Schemera, and have joined Hyundai Motor Group. Former Bugatti designer Alexander “Sasha” Selipanov was also brought on board at Genesis.

Biermann is responsible for the improvements Hyundai, Kia, and Genesis have made in driving dynamics, and was originally brought in to help develop performance vehicles. The Kia Stinger and K900, Genesis G70, and Hyundai i30 N and Veloster N are just some of the vehicles shaped by Biermann’s influence. Hyundai’s motorsport presence has also expanded since Biermann’s arrival with the automaker now participating in the World Rally Championship, 24 Hours of the Nurburgring, and the TCR Class of the Pirelli World Challenge.

Source: Reuters

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Categories: Property

Toyota Supra Super GT Racing Concept to Debut in Tokyo

Motortrend News Feed - Tue, 12/11/2018 - 20:54

The 2020 Toyota Supra is among the most anticipated debuts in recent memory, as we’ve been expecting a new Supra to drop ever since the Toyota FT-1 concept was revealed way back in 2014. That day will finally come next month at the 2019 Detroit auto show, but before then Toyota will debut yet another Supra racing concept.

The automaker teased the GR Supra Super GT concept today, which will be unveiled at the 2019 Tokyo Auto Salon taking place just before the Detroit show. You may be wondering why Toyota and its Gazoo Racing motorsports division are showing off another Supra race car concept when they already revealed the GR Supra Racing concept earlier this year. It seems that car will only see competition in Playstation’s Gran Turismo Sport, but based on this concept’s name we can assume it previews a car that will actually race in Japan’s real-life Super GT series.

The Toyota GR Supra Racing concept at the 2018 Geneva motor show

Once known as the JGTC (Japan Grand Touring Championship), Super GT is Japan’s premiere GT racing series and is comprised of two classes that compete on one track simultaneously: GT300 and the top-tier GT500 class. Because Toyota just launched the GT500-class Lexus LC 500 last year, the Supra will most likely compete in GT300. Given the Toyota Supra’s rich history in JGTC, we’d love to see a GT500 version of the Mk. V, but entering GT300 makes sense as those cars are typically more closely related to their production counterparts. The lower class also allows FIA GT3-spec cars, so it’s possible the Supra will be eligible to compete in other series besides Super GT. If the race car is production-based, then expect to find a BMW-sourced turbocharged 3.0-liter inline-six under the hood.

Beyond that, we don’t know very much about the upcoming Supra race car. We’ll have to wait until the GR Supra Super GT concept debuts at the Tokyo Auto Salon on January 11-13 to learn more. Until then, at least we have the NASCAR version to tide us over?

Source: Toyota

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Categories: Property

Spied! Next Audi RS 7 Tests in Icy Conditions

Motortrend News Feed - Tue, 12/11/2018 - 19:00

Our spy photographers have caught the upcoming Audi RS 7 testing in the snow and flaunting its shapely silhouette. The high-performance variant of Audi’s swoopy fastback sedan is scheduled to debut sometime next year and will eventually do battle with the Mercedes-AMG GT 4-Door Coupe, Porsche Panamera, and BMW M5.

Some of the dead giveaways that this is the RS 7 are the large oval exhaust tips, which distinguish Audi’s RS models from lesser variants. Behind all of the camouflage, the fenders look wider than on the standard A7. This particular prototype also appears to have a different lower front fascia with larger side openings for improved air flow to cool the brakes. It’s also sporting sizable front brakes and larger-diameter alloy wheels. The car also appears lower than a standard A7, which could hint at a height-adjustable air suspension or possibly a lowered fixed setup.

As with past Audi RS models, it’s the small details that will set this car apart from its more pedestrian sibling, which should help the RS 7 to be one heck of a sleeper. Our spy photographers tell us that the RS 7 will debut with a new twin-turbo V-8 good for 650 hp. That powertrain is likely to be shared with the eight-cylinder version of the Bentley Continental GT. Look for the 2020 Audi RS 7 to debut next year, possibly at the Geneva motor show.

Photo source: CarPix

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Categories: Property

1,900-HP Pininfarina Battista Teased Ahead of Geneva Debut

Motortrend News Feed - Tue, 12/11/2018 - 17:57

Famed Italian design house Pininfarina announced earlier this year that it would relaunch as an electric car brand, and now we know the name of the fledgling automaker’s first model. At the Geneva motor show next March, Pininfarina will debut the Battista, an electric hypercar named after the marque’s founder, Battista “Pinin” Farina.

The new automaker is coming out swinging with its first production EV, claiming it will be both the most powerful and fastest Italian car when it launches in late 2020. If it has the specs Pininfarina promises, it just might be. The Battista will produce 1,900 hp and 1,696 lb-ft of torque from its Rimac-supplied all-electric powertrain, according to Pininfarina. With that kind of power on tap, the Battista is estimated to hit 62 mph in less than 2 seconds and top 250 mph. Pininfarina also promises a range of more than 300 miles. Those figures may be hard to believe, but as you might recall, the Rimac C_Two from this year’s Geneva show boasted similar specs.

Based on the teaser images, you can expect a sleek, low-slung exterior design. We see a bit of the Pininfarina-penned Ferrari Sergio concept in the front end, though the headlights could be closer to those of a Ferrari 488. However it ends up looking, the Battista will be rare. The brand promises to build no more than 150 examples, and each will be priced between $2 million and $2.5 million. The distribution will be split three ways, with the U.S., Europe, and Middle East each getting 50 cars.

We’ll find out more about the Pininfarina Battista at the 2019 Geneva motor show.

Source: Pininfarina

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Categories: Property

EfTen shops in Lithuania with €47m RYO deal

Property Week News Feed - Tue, 12/11/2018 - 17:36
Baltic fund manager EfTen has announced the acquisition of the Ryo shopping centre in Panevežys, Lithuania, from the Finnish family-owned company Pontos.
Categories: Property

Mercedes-Benz recalls number of models over non-functioning seatbelt tensioners

The Car Connection News Feed - Tue, 12/11/2018 - 15:35
Mercedes-Benz has recalled some of its brand new models to address faulty address sensors which may cause seatbelt tensioners to not function. In documents filed with the NHTSA last month that were published this week, Mercedes-Benz said it will recall 5,433 vehicles to fix seatbelts that may not register when an occupant buckles in. The sensor...
Categories: Property

Lyft's awards, Porsche Macan driven, Tesla self-driving cars: What's New @ The Car Connection

The Car Connection News Feed - Tue, 12/11/2018 - 15:30
Lyft recognizes its most popular destinations in major cities Ride-share giant Lyft is keeping track of where its customers go. On Monday, it released a list of the most popular destinations in some of America's biggest cities. Meet the woman who drove a 2013 Hyundai Elantra 1 million miles Most owners celebrate when their car's odometer turns...
Categories: Property

Mayor gives green light to called-in Abbey Wood resi-led scheme

Property Week News Feed - Tue, 12/11/2018 - 13:46
The Mayor of London, Sadiq Khan, has approved an amended 272-home scheme close to the future Abbey Wood Crossrail station five months after it was rejected by Greenwich Council.
Categories: Property

Spaces secures spot in Aberdeen's Marischal Sq

Property Week News Feed - Tue, 12/11/2018 - 13:29
Spaces has taken 26,400 sq ft in Aberdeen’s Marischal Square development.
Categories: Property

L&G builds BTR team with triple hire

Property Week News Feed - Tue, 12/11/2018 - 13:21
Legal & General has made three hires to expand its build-to-rent (BTR) team including the appointment of Grainger’s Nisha Kerai as senior asset manager.
Categories: Property

Morgan Stanley issues £367.5m CMBS on CityPoint tower

Property Week News Feed - Tue, 12/11/2018 - 13:04
Morgan Stanley has launched a securitisation of the £367.5m loan on London’s CityPoint tower.
Categories: Property

2019 Ram 1500

The Car Connection News Feed - Tue, 12/11/2018 - 12:56
The 2019 Ram 1500 pickup truck wants to be more than just a trusted hauler. With its roomy, refined interior and its choice of engine options, the 2019 Ram is the most livable full-size pickup on the market today. We rate it 5.8 out of 10 overall, with some caveats. For one, we haven’t driven the new mild-hybrid V-6 and V-8 engines. For...
Categories: Property

2019 Ram ProMaster City

The Car Connection News Feed - Tue, 12/11/2018 - 12:55
The 2019 Ram ProMaster City doesn’t have time for our clever analysis—there’s work to do. Normally, it’s a small cargo van (sometimes a small passenger van) destined for a rough-and-tumble life wherever it goes. With seats up front and a box in back, it wasn’t built to shine on our scale that prefers passenger cars...
Categories: Property

2019 Ram ProMaster

The Car Connection News Feed - Tue, 12/11/2018 - 12:55
The 2019 Ram ProMaster pares its available engine lineup down to one this year: a gas-powered V-6 that’s used throughout the Fiat Chrysler Automobiles family. Less isn’t more here. The Ram ProMaster rates 3.0 on our overall scale because it was never going to do well. It’s not built like passenger cars, our rating scale was...
Categories: Property

2019 Dodge Durango

The Car Connection News Feed - Tue, 12/11/2018 - 12:55
The 2019 Dodge Durango is a three-row crossover SUV that turns its nose up at minivans. With available V-8 power—and lots of it—the 2019 Durango eschews curvy crossover style in favor of Detroit machismo. Though it’s starting to show its age, the Durango has its virtues. We rate it 5.7 out of 10. (Read more about how we rate...
Categories: Property

Lyft recognizes its most popular destinations in major cities

The Car Connection News Feed - Tue, 12/11/2018 - 12:50
Ride-share giant Lyft is keeping track of where its customers go. On Monday, it released a list of the most popular destinations in some of America's biggest cities. Called the "Lyftie" awards, the ride-share company delved into its data to find the most visited bar, gym, concert venue, brunch spot, late-night restaurant, late-night neighborhood...
Categories: Property

British Land to buy City building near Broadgate estate for £37.5m

Property Week News Feed - Tue, 12/11/2018 - 12:50
British Land is poised to buy a mixed-use building close to its Broadgate estate for around £37.5m, as it continues to grow its development pipeline.
Categories: Property

Barings buys Paco Portfolio in France

Property Week News Feed - Tue, 12/11/2018 - 12:21
Barings Real Estate has increased the size of its French assets under management to more than €200m with the acquisition of a 968,750 sq ft logistics warehouse portfolio.
Categories: Property

City corporation sells London Wall office

Property Week News Feed - Tue, 12/11/2018 - 11:55
The City of London Corporation has sold the 150-year leasehold at 1-5 London Wall Buildings for £97.1m to a joint venture between Angelo Gordon and Endurance Land.
Categories: Property

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