AD #2438 – Ferrari’s New Limited Edition Models, Ford Reveals Plug-In Transit, Car Sales Soar in Europe
September 19th, 2018 at 11:52am
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Runtime: 7:08
0:27 Ferrari Reveals Product Strategy
1:08 New Ferrari Models Feature Most Powerful Engine Ever
1:58 U.S. Justice Department Investigating Tesla
3:21 Ford Reveals Plug-In Transit Custom
3:58 VW’s SEAT Introduces 1st Large SUV
5:11 Car Sales Soar in Europe
5:45 EVs Concern Convenience Store Owners
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On today’s show…the U.S. Justice Department launches a criminal probe into Tesla…Ferrari plans 15 new models, including an SUV…and car sales in Europe soar in August. All that and more coming right up on Autoline Daily.
This is Autoline Daily the voice of the automotive industry.
FERRARI REVEALS PRODUCT STRATEGY
The late Sergio Marchionne promised to double Ferrari’s earnings to 2 billion euros by 2022, but new CEO Louis Camilleri has softened that target slightly. He adjusted the earnings forecast range between 1.8 and 2 billion euros. To maintain growth at the company, Ferrari plans to introduce 15 new models, including an SUV and more hybrids. By the end of its plan, 60% of its lineup will be hybrid vehicles. Ferrari will also focus more on GT vehicles that put an emphasis on styling and the driving experience, rather than extreme performance.
NEW FERRARI MODELS FEATURE MOST POWERFUL ENGINE EVER
But don’t think the company is going soft. It just introduced two new vehicles, the Monza SP1 and SP2 that will feature the most powerful engine Ferrari has ever come out with. The V12 engine will rocket these cars from 0 to 100 kilometers an hour in just 2.9-seconds. The open-top sports cars are the first models in a new concept of limited-edition special series cars, called ‘Icona’ and were inspired by iconic Ferraris of the late-40’s and 1950’s. The entire body is made from carbon fiber and the hood and side fender assembly is actually all one piece. And the lack of a windshield really accentuates the length of the front end.
U.S. JUSTICE DEPARTMENT INVESTIGATING TESLA
Back in August, Tesla CEO Elon Musk tweeted he was considering taking the company private and secured funding to do so. He’s since abandoned those plans but it led to an inquiry from the Securities and Exchange Commission to find out if he really did have that funding. That probe is still ongoing and now Bloomberg reports that the U.S. Justice Department is also investigating Tesla for possible fraud. Tesla said it’s cooperating with investigators and expects the issue to be resolved quickly. But this is another black eye for the company, which Elon Musk has put in the news for all the wrong reasons lately.
Still to come…Ford introduces a plug-in version of the Transit Custom.
Don’t forget to join us for Autoline After Hours tomorrow, when our special guest will be none other than Bob Lutz. Always insightful, often controversial and plenty entertaining, Lutz still has a lot to say about where the automotive industry is headed. Join us here live tomorrow afternoon.
FORD INTRODUCES PLUG-IN TRANSIT
Ford just introduced a plug-in hybrid version of the Transit Custom. The company is estimating 50 kilometers or about 31 miles of pure electric range and 500 kilometers or 310 miles of total range. In addition to the 14-kWh lithium-ion battery powering the electric motor, a 1.0L EcoBoost engine is used as a range extender. Fuel economy numbers will be revealed closer to its on-sale date. The Transit Custom PHEV goes into production in the second half of 2019.
VW’S SEAT INTRODUCES 1ST LARGE SUV
SEAT, the Spanish automaker owned by the Volkswagen Group, is on a roll in 2018. Through the first 8 months of the year, the company sold nearly 384,000 vehicles globally, which is up 22% compared to last year. And it hopes to keep the momentum rolling with the first large SUV in its lineup, called the Tarraco. It’s built-on VW’s MQB long wheelbase platform and it’s the first model in SEAT’s lineup to feature its new design language. Customers can choose from four different engines, two gasoline or two diesels. And each of those can be mated to a six-speed manual or a seven-speed dual clutch transmission. The SEAT Tarraco goes on sale in early 2019 in Europe.
And speaking of Europe, a new emissions test in the region caused car sales to soar in August. We’ll tell you why right after this.
CAR SALES SOAR IN EUROPE
August is usually a slow month for car sales in Europe but according to the European Automobile Manufacturers Association, they were up a whopping 31%. The likely reason car sales jumped by so much is the new World Harmonized Light Vehicle Test that went into effect on September 1st. The stricter emissions test applies to all-new car registrations in the region. So, to help clear inventory of old models that don’t meet the new standard, many automakers offered generous incentives to consumers, which helped boost sales.
EVs CONCERN CONVENIENCE STORE OWNERS
Did you know that 80% of gasoline is sold through convenience stores? Many gas stations in the U.S. are attached to convenience stores, and gasoline accounts for 60% of their sales. But it accounts for less than 30% of their profits. They make most of their profit by selling things like milk, bread and beverages. And the convenience store owners are worried about electric cars. If more people in the future are charging up at home or work, they’ll drive right past these convenience stores and that would be bad for business. One thing they’re looking at doing is installing fast chargers for electric cars but right now there are not enough electric cars to justify the cost. And so we’re probably going to see consolidation, where mom and pop shops get bought out by big corporations.
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Comments (24)
September 19th, 2018 at 12:20 pm
Most powerful engine ever and my head is the crumple zone… great. I would imagine most of those cars will be garage queens so it probably doesn’t matter.
September 19th, 2018 at 12:25 pm
Convenience stores don’t have gas stations; gas stations have convenience stores. Governments won’t allow unattended self serve gas stations, so oil companies had to add convenience stores so they could remain ‘attended’. If EVs lead to fewer gas stations, the number of oil company convenience stores will drop also, making it easier for the mom and pop stores to survive.
September 19th, 2018 at 12:38 pm
Bob Lutz- isn’t his modo ” seldom in doubt, often wrong” I could listen to him all day.
September 19th, 2018 at 12:41 pm
2 – Not sure about the “… Governments won’t allow unattended self serve gas stations”. I’ve seen them in some areas.
September 19th, 2018 at 12:45 pm
2. They seem to be disallowed in Florida.
September 19th, 2018 at 12:45 pm
On the Ferrari Monza cars, how do you keep the bugs out of your teeth and eyes without a windshield? Is a helmet required? Will they pass DOT requirements? Or are these track-only vehicles? Or as Buzzerd suggested for collector garages only?
September 19th, 2018 at 12:54 pm
I think Ferrari are so successful at marketing that all they have to do is make a car and it will sell. I don’t think they give a second’s thought to how the customer will use it.
Arriving at a special event in your exclusive expensive Ferrari with bug guts all over you and your date’s face. Cool.
September 19th, 2018 at 1:15 pm
@7 no, no. You have your ” people” bring the car to the gate of the event and the two of you drive in.
September 19th, 2018 at 1:25 pm
As more electric cars hit the road the convenience stores will need to become restaurants because instead of just running in for a quick drink or snack they will be there long enough to eat a meal.
September 19th, 2018 at 1:30 pm
If you look at electronic stores they’ve had to adapt as people buy so little electronics, video games and cd/DVD’s. They now sell appliances, furniture and luggage. Maybe gas stations will slowly morph into …. restaurants and battery replacement centres.
September 19th, 2018 at 1:31 pm
Most powerful engine yet no numbers from Ferrari. Maybe finally adding a supercharger? There has been talk of an electric turbo charger. My guess is it will be forced induction though.
September 19th, 2018 at 1:37 pm
11 Ferrari are already doing hybrids, and I’d expect turbo hybrids to come soon.
September 19th, 2018 at 2:04 pm
PA has unattended gas stations. One near me is called GASCARD I very rarely ever see anyone use it. I would have to question the freshness of the fuel. The new gas seems to not hold up well over time.
September 19th, 2018 at 2:09 pm
13 I usually drive my van only 200-300 miles a year, and it then sits for about 7 months. I fill the tank when I park it, but it sits those 7 months wi 1/3 to 1/2 tank of gas that is was in it the year before. It does fine. If I didn’t drive it at all for a year, I might have a problem, but in my case, I have no problem with gas “not holding up.”
September 19th, 2018 at 2:48 pm
#14 You dont even add gas stabilizer? My motorcycle sits for only about 5 month every winter and I always add Stabil and start it on days when it gets above freezing to let it run for 10 to 15 min. By springtime I’ve usually burned up a gallon or two.
September 19th, 2018 at 3:08 pm
15) I used to do the same as 14 and never had a fuel problem. One of my cars sat 7 years and with a little boost from a gas additive and a new battery, It came to life again. Of course I then proceeded to get rid of the old fuel, replace the filter and run an injector cleaner in the new tank of fuel. That is an ’80s car though which is more forgiving then modern cars.
The one thing I would say about starting it randomly through the winter, which I now do on my 2014 Mustang, is that it keeps the oil and engine coolant circulating which is far more important then fuel stabilization. I even turn the AC on to make sure the compressor cycles and gets the refrigerant cycling through the compressor to keep it lubricated. If I had a hoist, I would likely put it in gear too so that the transmission and rear axle go through an oil circulation cycle. If I had a hoist I would also try to keep it in the air so that the tires stay a circular shape LOL.
September 19th, 2018 at 3:15 pm
#15. I just fill it full at a station near home before I park it for the 7 months. I do the same with my scooter and motorcycle. I used stabilizer a time or two, but I don’t seem to need it. The van and scooter (Honda SilverWing) have fuel injection, and the motorcycle (Kawasaki KLR650) has a carburetor.
September 19th, 2018 at 4:47 pm
Can Ferrari make all of those models, including a truck, and keep the obscene pricing? Maybe so, but it would seem there’d be a limit to the number of rich people who want to spend that kind of money to decorate their garage.
September 19th, 2018 at 7:08 pm
unattended gas stations are here in Indiana, I’ve bought premium (93 octane) NO alcohol gasoline at one.
September 19th, 2018 at 7:30 pm
Self service stations require one attendant in Florida.
http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0500-0599/0526/Sections/0526.141.html
I couldn’t find a list of which states require an attendant.
September 19th, 2018 at 10:09 pm
Jeesh the new Seat design language is Fords current design language. The front looks like ford sedans
September 20th, 2018 at 9:15 am
#19 I think its NJ you cant even pump your own gas. I believe that state requires not only gas attendants but they still come out and pump it for you. So talk about being behind the times. Its been so long since I even saw a full-service gas station I didnt know if I was suppose to tip the guy or not.
September 20th, 2018 at 10:29 am
NJ, and until very recently, OR. Now OR lets you pump your own gas in some locations, and during “off hours.”
September 20th, 2018 at 11:45 am
Up until N.J. raised their gas tax significantly, Jersey gasoline (even with attendants) was some of the cheapest in the land. Now it is on par with much of the rest of the northeast.