There isn't much growth left in the classic Ferrari market after nearly a decade of record prices — but for those that are willing to look, there are a few opportunities left.Craig Jackson, CEO of auction powerhouse Barrett-Jackson, was happy to offer what he thinks is one of the last remaining bright spots in the Ferrari back-catalog: late-model stick shift cars.It's not a new trend, but it is becoming increasingly more pronounced: late model cars with manual transmissions, even in models that haven't earned "classic" status yet, are bringing a strong premium over cars with semi-automatic paddle shifters, Jackson told Business Insider.Feel the gates."And because the final Ferrari model sold with a manual transmission— a 599 GTB and one of only 30 not fitted with the F1 transmission — left the factory in 2012, drivers looking for a modern Ferrari experience with a stick are clamoring for what would otherwise be relatively unexceptional Ferrari models, giving them a certain rarity.In effect, the cars have become unintentional "limited edition" models."There were very few California Spiders specified with a manual transmission," Hans Wurl of Gooding & Co. told Business Insider."Ferrari marketed their semi-automatic transmission as the 'F1,' wanting to relate it to the technology of their grand prix cars," Wurl said."A few of these savvy collectors, whether they were smart or just wanted the manual experience, got a car that wound up being very desirable.
As you probably know, gasoline engines combust fuel with air within each cylinder, and that combustion moves the pistons—and therefore the crankshaft, powering the car.That comes down to the way that the fuel combusts after it's injected into the cylinder, which normally happens around the center of the cylinder by the spark plug the bit that ignites the mixture .a leaner burn , less energy is wasted as heat and more of it is converted to work.Rather than traditional fuel injection, which squirts fuel into the engine upstream of the cylinder in the intake port the bit that the air gets sucked through on its way from the outside of the car into the engine , direct injection uses a high-pressure system to add the fuel into the cylinder itself.Several years ago, we delved into this tech in depth, which does away with the spark plug altogether, instead relying on the compression of the fuel-air mix inside the cylinder to cause combustion, similar to the way things happen inside a diesel engine.But one team's advantage rarely remains exclusive, and a mid-season upgrade to Ferrari's engines in 2015 can now be explained as that team's adoption of TJI, a fact that was confirmed recently by Mahle which supplies Ferrari with its pistons and which also used to supply Mercedes-Benz .
"Risk: Deloitte says its research "gives us limited grounds to believe that MPLs will systematically price risk better in areas where banks have an appetite to play."In other words, banks could exploit the same algorithmic innovations.By building up specific expertise in areas like, say, asset finance or invoice financing, they can develop an advantage over the banks.Tomlinson of Deloitte says: "In the medium term, however, MPLs are likely to find a series of profitable niches to exploit, such as borrowing which falls outside banks' risk appetite and segments that value speed and convenience enough to pay a premium for example SMEs, particularly in invoice financing, or high-risk retail borrowers .This has been driven by the competitive prospectus for investors and borrowers offered by peer-to-peer lending platforms unencumbered by the legacy systems and costly infrastructure of banks, combined with excellent levels of customer service.Many of the conclusions in the Deloitte report depend on assumptions which do not reflect the development of peer-to-peer lending to date.Lord Adair Turner, the banking regulator from 2008 to 2013, said in February that "the losses which will emerge from peer-to-peer lending over the next five to 10 years will make the bankers look like lending geniuses."More recently, the poster child of online lending in the US, LendingClub, has been engulfed in a scandal over disclosure and minor doctoring of loans that has led to the ousting of its CEO and founder.• Funding Circle's CEO addressed 'the most pertinent question anyone can ask about our industry'• 'This is not the canary down the coal mine': Here's what the industry is saying about LendingClub's crisis• One epic slideshow tells you everything you need to know about the $180 billion world of online lendingNOW WATCH: This is the best Ferrari ever builtLoading video...
Blue Coat Systems, the security-software company taken private six years ago, is close to kicking off an initial public offering, according to people familiar with the matter.The company could make its IPO filing public as soon as next week, the people said, asking not to be identified as the information is private.With revenues under $1 billion, Blue Coat filed under the Jumpstart our Business Startups or JOBS Act, which allows small companies to file for IPOs privately with the SEC.Once the offering document is public, the company has to wait three weeks before the share sale can proceed, meaning the IPO would likely be in mid-June at the soonest.Market volatility around either event could delay the deal, one person said.Blue Coat is already testing the waters for an IPO with potential investors, and a final decision on whether or not to file will depend on the feedback from those funds.It is still aiming for a deal of about $500 million, one person said, though that could change depending on investor sentiment.Bloomberg News in January reported the potential size of the deal.The deal would be the largest US tech-sector IPO of the year, and a big step toward the market's comeback.The IPO market has begun to come back to life since mid-April, when the stock exchange operator Bats Global Markets successfully launched its $250 million offering.For Blue Coat, an IPO would mark a return to capital markets.It was sold to Bain Capital last year.Morgan Stanley and JPMorgan are leading the deal, with Credit Suisse and Goldman Sachs also managing.Representatives for the four banks and Blue Coat declined to comment.NOW WATCH: This is the best Ferrari ever builtLoading video...
They re quick, quiet, and clean, but Ferrari CEO Sergio Marchionne isn t convinced.It s an almost obscene concept, he told journalists at the 2016 Geneva Auto Show.But you can t stop progress, and Electric GT has taken matters into its own hands.The San Diego-based company partnered with engineers EV West to convert a 1978 Ferrari 308GTS to run on electricity.They removed a fire-damaged V8, and replaced it with three motors and enough batteries to keep it going for 80 miles on a charge.They re calling the result a 308GTE, and claim it s more powerful and better to drive than the original.
Ford promises SYNC 3 will get CarPlay support starting with 2017 model year vehicles, while existing 2016 vehicles will get it later this year.Fiat Chrysler Automobiles pledged support for Android Auto with the next major release of Uconnect, but has yet to confirm what vehicles are getting it.CarPlay-compatible apps must follow Apple's strict safety requirements for in-car use.This is certainly the most straightforward method of using CarPlay.Volume controls, track skip and control knobs are all seamlessly integrated and work as expected.Acura2017 NSXAudi2017 A42017 Q7 requires MMI navigation plus Buick2016 Lacrosse2016 RegalCadillac2016 ATS2016 ELR2016 CTS2016 XTS2017 SRX2016 EscaladeChevrolet requires MyLink 7-inch or 8-inch infotainment system 2016 Spark2016 Sonic2016 Cruze2016 Malibu2016 Impala2016 Volt2016 Camaro2016 Silverado2016 Silverado HD2016 Corvette2016 Colorado2016 Tahoe2016 SuburbanFerrari2016 488 GTB2016 488 Spider2016 California T2016 F12 Berlinetta2016 F12 tdf2016 FFFord requires SYNC 3 2016 Fiesta software update available later this year 2016 Focus software update available later this year 2016 Mustang software update available later this year 2016 C-MAX software update available later this year 2016 Taurus software update available later this year 2016 Edge software update available later this year 2016 Flex software update available later this year 2016 Escape software update available later this year 2016 Expedition software update available later this year 2016 F-150 software update available later this year 2016 Transit software update available later this year GMC requires 8-inch IntelliLink infotainment system 2017 Acadia2016 Canyon2016 Sierra2016 YukonHonda2016 Civic EX and higher 2017 Ridgeline TBD Hyundai2016 Azera software update required, date TBD 2016 Sonata Hybrid / Plug-in Hybrid software update required, TBD 2017 Veloster software update required, date TBD Kia2016 Optima software update available TBD 2017 Forte2017 Sportage software update available in April Mitsubishi2017 MiragePorsche2016 9112017 718 Boxster2017 MacanVolkswagen2016 Beetle SE and higher trim levels 2016 Golf S and higher trim levels 2016 e-Golf2016 GTI2016 Jetta S with Technology and higher trim levels 2016 CC2016 Tiguan SE and higher trim levels Volvo2016 XC902017 S902017 V90
Ah, supercars!The Thoroughbreds of the automotive world — they can cost millions; they go very fast, and they attract plenty of attention in traffic and when pulling up to valet lines.People dream about owning a Ferrari, a Lamborghini, and McLaren, a Pagani, or a Bugatti all their lives, from a tender young age right up until they experience that third or fourth midlife crisis.And although these storied brands make more domesticated, "practical" machines, it's the super-sexy supercars that capture the imagination.But ... are they really all that?Well, they are.But they're also, on many levels, beautiful, exotic, alluring, exciting total pains in the ass.Here's why.View As: One PageSlides
This time around, the recalls are including some passenger-side air bags that are fitted with the potentially faulty inflators, with the recalled vehicles being in the Gulf Coast region where humidity levels are often high.Such consistently high humidity levels are believed to interact with the inflators in such a way that in the event of an accident, the airbag is deployed with too much force, possibly causing shrapnel to explode outward toward the driver.The additional recalls aren t surprising in light of this month s Takata news — another 35 million to 40 million inflators will be added to the recall list over the new couple of years.The U.S. has been particularly hard-hit by the recalls, but isn't the only nation affected.In a statement today, Japan's government announced that another 7 million vehicles with Takata inflators will be recalled in Japan over safety concerns.Eleven individuals have died as a result of the faulty airbags, and more than one hundred individuals have suffered injuries.
Earlier this year, four researchers from Great Britain published a study that has been the topic of uncountable arguments and speculation for decades:Who is the greatest Formula One driver of all time?Maybe you re a fan of Kimi Räikkönen, Sebastian Vettel, or Lewis Hamilton, or maybe you still hold fast to the memory of Michael Schumacher, Ayrton Senna, or Phil Hill.How They Did ItSeveral attempts have been made over the years to quantify results and rank drivers across the history of the series, but each of these attempts has looked at different factors to normalize and assign values to individual race wins.Sorry Schumi, but it looks like you might have had a tougher career if you didn t race for Ferrari all those years.So as you consider these results, bear in mind that there are still factors that could be brought into any discussion of relative greatness.From 2010 to 2012, Schumacher managed only one podium finish, a third place showing at the 2012 European Grand Prix.
Tesla's cars are technologically impressive.They're very fast, they can all but drive themselves, they can be summoned from a garage with no one at the wheel, and they are routinely improved by software updates over-the-air that allow owners to go to sleep and wake up with a new car in the driveway.Everyone in the auto industry now grudgingly admits that Tesla has forever altered consumers' expectations for how advanced in-car tech should be.But Tesla's most advanced feature is largely hidden — and will need to undergo a big change in the coming years if the electric-car maker hopes to realize the far-reaching vision of CEO Elon Musk.It's the batteries, stupidThe secret sauce at the core of Tesla's disruption of the traditional car business is its unique battery design and the powertrain software than manages how the electricity is delivered to the vehicles' electric motors .And, as an aside, scorching performance the Model S P90D with "Ludicrous Mode" is as fast as Ferrari, Lamborghini, and Porsche supercars .But that range comes at a price.What this means is that Teslas need enough power to move themselves around before they can even think about range or acceleration.Lithium-ion batteries also rely on ... lithium, which is a limited, costly resource that is currently in wide demand not just for electric cars, but also for pretty much all the rechargeable consumer electronic gadgets on Earth.This is why Tesla is building a massive battery factory with Panasonic in Nevada; if the automaker is going to deliver 500,000 cars annually by 2018, it's going to need something on the order of 4 billion individual Li-ion cells every single year.The core problem here isn't actually that daunting number — it's the power threshold that Li-ion is now approaching, in terms of battery chemistry.Simply put, the chemistry of Li-ion can't ultimately provide the range that a very fuel-efficient all-gas-powered or hybrid gas-electric vehicle can.The solution is to add more cells, something that Tesla has done since it was founded, but that's a slippery slope.The only byproduct is water, the vehicles use electric motors and could presumably have Tesla-like performance , and the fueling infrastructure is already in place; they're called "gas stations.But that may be exactly what it's up against by 2020.NOW WATCH: Here s Tesla s massive plan to meet the demand for 375,000 Model 3 preordersLoading video...
The Ferrari 458 Speciale was indeed pretty special.Ferrari says its customer specified a visor effect, with blacked-out A-pillars that allow the windshield and side windows to blend into one element.The look is inspired by the 1984 Ferrari 288 GTO, but there seems to be a bit of the modern 488 GTB in the MM Speciale s many aggressive scoops and intakes as well.The front radiators are mounted closer together and at a steeper angle than before, according to Ferrari, while the front bumper itself has a somewhat cleaner look.The price of the 458 MM Speciale is likely in the If you have to ask… category, and it s not like the sole example is for sale, anyway.Don t expect this to be the last factory-built custom Ferrari, as there is apparently no shortage of buyers for whom a regular Ferrari simply isn t special enough.
Based a stone s throw from the leaning tower of Pisa, Mazzanti has just introduced an evolution of the Evantra coupe that s billed as the most powerful street-legal car ever built in Italy.It s called Millecavalli, a portmanteau that means a thousand horses in Italian, and as its name clearly implies it boasts a thousand horsepower thanks to a twin-turbocharged 7.2-liter V8 engine.The Millecavalli emblem is accompanied by a more aggressive look.It features a deeper front bumper, a trio of vents cut into the hood, flared fenders, and a sizable wing out back.Read more: This Dutch roadster blurs the line between a race car and a street carMazzanti will publish a full set of details about the Evantra Millecavalli next month during the Turin Auto Show.The car on display won t be a mere concept, and the carmaker has already announced plans to build no less than 25 examples of the Millecavalli in the not-too-distant future.
The premiere of the new, Chris Evans-led version of Top Gear was worth watching not necessarily for the show itself, but for an interesting piece of Ferrari news that slipped into the taping.Discussion quickly turned to Ramsay s LaFerrari hybrid supercar, but then Evans asked about another, future best car Ramsay might be taking delivery of soon.And they re doing a limited edition of the LaFerrari, Ramsay continued.The carmaker has an inner circle of particularly well heeled and loyal customers.Some media outlets are already accusing Top Gear of colluding with Ferrari, and that would be a major blow to the show s credibility if it proved true.Evans was quick to announce that this is the first proof we ve heard on a TV, radio, or a magazine that this car exists, although Ferrari has hinted at it before.
SEE ALSO: Ferrari just built a one-off supercar for a very lucky and rich British buyerThe boxy Mercedes-Benz G-Class — known around the world as the G-Wagen — is the chariot of choice for well-heeled SUV buyers.There's good reason for that: the four-wheel drive luxury truck starts just shy of $120,000 — at least here in the U.S. As such, it's rare to see one being knocked around in the dirt.Seeing a space for a tougher more back-to-the-basics version of its former military truck, Mercedes has created the G 350 d Professional, a less luxurious but more butch version of the G-Wagen.And, as you can see in the provided photos, it looks like it enjoys a good off-road excursion now and again.Underneath its squared-off hood is a diesel-burning V6 engine that produces 245 horsepower.In making the interior more utilitarian, Mercedes designers took the standard G-Class cabin and simply removed stuff — such as the tablet-like infotainment screen — and then added some rough-and-tumble trim, including rubber floor mats and a hardwood deck in the rear.
It is also completely unique, having come from the company's 'One-Off' division responsible for taking regular Ferrari road cars and, with the help of a very lucky customer and their very large chequebook, turning them into something truly bespoke.And, good news for anyone hoping to spot it, the car will not be locked away in a garage for the rest of its days.How do you go from a regular Ferrari customer, to one who can approach the most famous car maker in the world and ask them to make something unique?Lee, a Hong Kong businessman who turned his father's gem import business into a top luxury watch and jewellery retailer, owns a wide range of Ferraris dating from the Sixties to 2016.His multi-million-pound collection includes all five flagships the 288 GTO, F40, F50, Enzo and LaFerrari , plus a 275 GTB, a 330 GTS, a 250 GT Lusso and a handful of models from the last few years.The 458 MM Speciale was commissioned by a British customer and is the last naturally-aspirated V8 car to be produced by FerariAfter the 458 MM was announced, Lee posted photos of it to his Instagram account, along with a short background on how these cars come about.
Ferrari has announced a one-off custom version of its 458 Speciale — the ultimate and final version of the highly-successful 458 line — built to the specifications of a wealthy British client.The "458 MM Speciale" was designed by Ferrari's own in-house design team, and nods at the classic Ferrari 288 GTO of the 1980's, copying the blacked-out A-pillars on either side of the windshield to create what the client called "a visor effect."The car also includes a heavily-redesigned, rounder nose and what look to be air intakes just before the rear wheels, a feature it shares with the 458's production replacement — the 488 GTB.While the 488's intakes ducts are a necessity of the new car's air-thirsty turbocharged V8 engine, the 458 Speciale was normally aspirated.Ferrari claim more air is needed to cool the notoriously-hot running engine because of a "different rake of the rear."By which they may rightly mean "we thought it looks neat."The character line which extends from the intakes and forward around the car's nose may also be a subtle hint at the deep, wrap-around black character line which was defining feaure of just about every single Ferrari model of the eighties.The 458 MM Speciale also includes a redesigned rear spoiler and a custom sound system, interior, and special wheels.Ferrari is not new to making one-off cars for its best clients.Other famous examples include a recent $4.7 million salute to the 1980's Berlinetta Boxer built specially for guitar legend Sir Eric Clapton and a fleet of four door 456s for the Sultan of Brunei.
Rosso corsa means "racing red" in Italian and is the country's signature color for motorsports.But it's become synonymous with Ferrari and its exotic, highly coveted, bright-red supercars.Now Ferrari is redefining that red legacy, with a new sports car: the 488 GTB.The 488 is the successor to the 458 Italia, believed by many to be the greatest car Ferrari ever built.The big change for the 488?The design of the 458 was updated by Ferrari's in-house studio — and the old naturally aspirated 4.5-liter V8, a majestic engine, was replaced with a new twin-turbocharged 3.9-liter powerplant, also a V8, and making a massive 661 horsepower, more than the outgoing 458's 562.The rosso corsa was also modified, becoming Rosso Corsa Metallizzato — Ferrari red with a touch of orange.We recently sampled the 488, and we were quite impressed.Ferrari is ready for its brave new era.NOW WATCH: This is the best Ferrari ever builtLoading video...
A Jaguar E-Type used in the 2015 Martin Scorsese film "The Wolf of Wall Street" will be sold at a Bonhams collector car auction on June 5 at the Greenwich Concours de'Elegance.In the film, the car is the first big purchase made by Leonardo DiCaprio's character, the notorious real-life Wall Street trader Jordan Belfort, after he finds some early success as a stockbroker.The sports car, to this day considered one of the most beautiful automobiles ever designed, is in the film the reason that Donnie Azoff Jonah Hill approaches Belfort and asks him for a job.Belfort would eventually replace the Jaguar with a white Ferrari Testarossa and then an ill-fated Lamborghini Countach.The real life car is a 1962 Series I XKE — only the second year of the E-Type — with the original 3.8-liter inline six-cylinder engine still under the long hood.Originally finished with a light tan interior and sand exterior with a black top, the car was restored by its current owner of 17 years.They also replaced the speed transmission and fitted new brakes and cooling systems.The car is estimated to sell for $150,000 to $175,000.This is the second car with a "Wolf of Wall Street" connection to come up for sale this year; the real life Jordan Belfort's 1991 Ferrari Testarossa was sold in Monaco back in February.View As: One PageSlides
The Ferrari 458 Speciale is already a rare sight, reserved only for buyers with the deepest of pockets.While the car keeps the same engine and chassis of the "standard" 458 Speciale, the exterior was designed by Ferrari Special Projects and all the work was done in-house.Two of the most noticeable changes are the addition of air intakes on the sides, and the A-pillars being painted black, in turn creating a "visor" look where the windshield seemingly transitions into the side windows.Combine these with some very aggressive new lines, and it's easy to make comparisons with the new Acura NSX and Ford GT.Other unique touches include composite carbon-fiber bumpers on the front and rear, a new rear spoiler, new wheels, and, of course, the Italian flag-themed tri-color stripes running down the middle.While Ferrari didn't reveal any other details about the buyer or how much the 458 MM Speciale cost, it's easy to see that what they've created is something priceless.
Electric-car startup Faraday Future FF is taking steps to get its vehicle technology on the road.Michigan officials say FF has applied for manufacturer license plates in the state.The plates allow automakers to test their vehicles on public roads.The Detroit News last week cited Michigan's department of transportation director, Kirk Steudie, who said FF "contacted him in January about how to apply for plates to test self-driving vehicles" there.The company said it is developing autonomous electric vehicles, but has so far declined to reveal much more than that.And though no one outside the secretive company knows when it will put a real prototype on the road, FF told Business Insider in March that mules equipped with its technology were undergoing testing in cold-weather conditions in the Midwest.A "mule" is a decoy vehicle that automakers use to discreetly test new products on public roads.Mules often look like existing production cars, but an enthusiast with a sharp eye can usually tell the difference.Here's a mule disguised as a Lexus ESFF has had a busy year since its January debut at the Consumer Electronics Show in Las Vegas.Since then, the company has geared up for the construction of its inaugural factory in Nevada.Last week, it entered a negotiation agreement with a city in the San Francisco Bay Area where it wants to build a second factory.It's unclear when FF will officially reveal its forthcoming vehicles, but those are probably on the way, too.NOW WATCH: This is the best Ferrari ever builtLoading video...