How a team of mental midgets destroyed the housing and auto sales industry
Despite inflation being too low, Fed Chairman Jerome Powell and his team of mental midgets raised interest rates too high too fast and killed both the housing and auto sales markets.
In spite of deals offered in the spirit of Black Friday, several heavy automotive hitters reported sales declines in the U.S. for the month of November.
Namely Ford, Toyota, and Honda all recorded sales drops due to ballooning sales prices and interest rates as well as dwindling demand for sedans, reports Reuters.
Ford sales, specifically, fell seven percent but the company remained optimistic when confronted with shareholders.
"Relative to the macroeconomic outlook, Ford was upbeat on its monthly sales call, suggesting relative consumer resiliency in the face of rising interest rates," J.P. Morgan analyst Ryan Brinkman told Reuters. Ford reportedly pinned the less-than-stellar sales on the Focus and Mustang.
Electric motors generate so much torque, it's best to have all 4-wheels gnawing at the pavement for grip
The front-wheel-drive layout may be approaching the end of its heyday if the future VW execs imagine comes to pass.
In a roundtable interview at the 2018 LA Auto Show, Matthew Renna, North American head of e-mobility, said future electric cars will likely have their powertrains in the rear and use rear-wheel drive, Motor Trend reported last Friday.
Renna explained that gas engine cars have often have a front engine and front-wheel drive because it saves money, but putting the motor in the rear of an electric car would be cost neutral.
Stadium SUPER Trucks to Return to Grand Prix of Long Beach
Perhaps the biggest thrill of the entire race weekend, the Super Trucks. How come they are not at every IndyCar event?
The Grand Prix Association of Long Beach announced today that Robby Gordon’s SPEED Energy Stadium SUPER Trucks series has signed a multi-year agreement to return and race at the Grand Prix of Long Beach starting in 2019.
Very popular with Grand Prix fans, the Stadium SUPER Trucks series features high-horsepower trucks that not only race around the world-famous 1.97-mile, 11-turn Grand Prix racetrack but also jump high in the air utilizing a series of temporary ramps placed throughout the circuit.
The SPEED Energy Stadium SUPER Trucks will run practice and qualifying on Friday with races on Saturday and Sunday afternoons. Last year, Gavin Harlien (Sat.) and Matt Brabham (Sun.) earned Long Beach wins.
Tesla drove 7 miles using Autopilot as driver allegedly slept drunk behind the wheel
Alexander Samek, the chair of the Los Altos, CA Planning Commission. Dumb arse!
With more vehicles now equipped with some form of autonomous driving features, are people putting too much faith in these systems? Tesla’s Autopilot, which is one of the most advanced on the market, was recently used to drive seven miles down a highway while the driver is alleged to have been asleep and drunk behind the wheel.
Police spotted the gray Model S belonging to Alexander Samek, the chair of the Los Altos, CA Planning Commission, doing 70 mph on Highway 101 early Friday. As this was above the speed limit, officers pulled up alongside the car and noticed that Samek was allegedly asleep, leading them to assume it was in autopilot mode.
California Highway Patrol Public Information Officer Art Montiel said cops moved behind Samek’s vehicle and tried to get him to pull over by turning on their lights and sirens, but he was “unresponsive.”
Rene Binder Set for the 2019 IMSA Michelin Endurance Cup with Juncos Racing
Binder (L) and Juncos (C)
Juncos Racing announced today that Rene Binder would join the IMSA WeatherTech SportsCar Championship team for the four event 2019 IMSA Michelin Endurance Cup. Binder will drive the No. 50 Cadillac DPi-V.R entry at the Rolex 24 at Daytona, the Mobil 1 Twelve Hours of Sebring Presented by Advance Auto Parts, the Sahlen’s Six Hours of the Glen, and the Motul Petit Le Mans.
Rene Binder (Innsbruck, Austria) first joined Juncos Racing for the 2018 Verizon IndyCar Series competing in six races throughout the season. In 2017 Binder finished fourth in the World Series Formula V8 3.5 Championship after recording two poles and four wins.
Tickets go on sale today for the 2019 Honda Indy Toronto
The Honda Indy Toronto returns to Exhibition Place, July 12-14, 2019, in downtown Toronto. Public sales for all multi-day tickets begin at 10 a.m. ET this morning at hondaindy.com or by calling 888-476-6251 for the 33rd edition of this annual festival.
As announced earlier, ticket prices remain unchanged for Honda Indy Toronto run on the 2.89-kilometer, 11-turn temporary street circuit. Pricing starts at $85 for Bronze-level 2-Day Grandstand seating, $130 for Silver, and $185 for Gold. 2-Day Weekend General Admission is $55, and children 12 and under are admitted free with a ticketed adult providing an exceptional family value. Single-day tickets will be released for sale closer to the event.
Williams Announces Nicholas Latifi as a Reserve Driver
WILLIAMS MARTINI RACING is pleased to announce Nicholas Latifi as a Reserve Driver for the 2019 FIA Formula One World Championship.
The Canadian has enjoyed a successful career in the junior formulas and is a multiple FIA Formula 2 race winner. He brings a wealth of experience and knowledge that will prove invaluable in the development of the FW42’s performance. The 23-year-old will support the team at race weekends and the factory to help maximize car performance. He will also be involved in the team’s media and sponsorship program.
Video: Wickens and Hinchcliffe Hospital Race Teammates Robert Wickens and James Hinchcliffe practicing their IndyCar skills with a race in a hospital hallway. Wickens posted the video on Twitter. He's still recovering from a serious crash back in August. Comment
AER Announces Executive Promotions And Organizational Changes
AER engines power Mazda in IMSA
At the conclusion of a highly successful 2018 motorsport season for the company, the directors of Advanced Engine Research, Ltd. are pleased to announce the appointment of company cofounder and Managing Director Mike Lancaster as Executive Director. In this new position Lancaster will focus on existing client relationships as well as new-business development.
Mark Ellis, a longtime member of the AER team and currently Technical Director, has been named Managing Director. In addition to assuming responsibility for the company’s overall performance and operation, Ellis will continue to oversee AER’s technical departments.
Tesla is the first car company to enable cars to improve themselves with over-the-air updates. Tesla has changed the automobile industry forever......and for the better
Tesla is at the cutting edge of electric car innovation. But as Lou Steinberg, the founder of the technology studio and incubator CTM Insights, points out electrification is not the EV company’s only innovation, and when it comes to competing in the global auto market, it may not even be the most important.
In Steinberg’s view, Tesla’s most important innovations stem from the fact that it’s the first company to approach cars the Silicon Valley way: as a software problem. Steinberg perceived the power of “tin wrapped software” as the CTO of Symbol Technologies. “Symbol built hardware, but was able to use software to tune how it worked in different environments. Flexible software meant that the hardware behaved one way in a hospital (long battery life for a 12-hour shift) and another way in a retail store (higher power radios to overcome dead zones).”
The ABB FIA Formula E Championship has today announced that Moet & Chandon is partnering with the electric street racing series as official champagne supplier.
The French champagne Maison has been renowned for celebrating memorable moments with a sparkling sense of occasion for centuries and will add to the glamor and celebrations at each event on the streets of the most recognizable city-center locations as part of the exciting collaboration with Formula E.
Dubbed 'The Greatest Night in Motorsport,' last night's Autosport Awards drew together the stars of the sport at the Grosvenor House Hotel on Park Lane in London to celebrate the achievements of the recently concluded motor racing season.
As a time-honored fixture in the sport's calendar, the Awards recognized the achievements of established drivers and the industry's luminary leaders as well accelerating the fortunes of Britain's emerging talent - both on the track and in the design office - to the very top echelons of the sport.
Noah Gragson wins Snowball Derby for Kyle Busch Motorsports
Noah Gragson took the lead from Harrison Burton with a handful of laps remaining in the 51st annual Snowball Derby to give Kyle Busch Motorsports (KBM) back-to-back wins in the prestigious Late Model race.
The Chevy Volt will be discontinued, as will all plug-in hybrids eventually, in favor of pure electric cars
According to a recent Bloomberg article, we are entering a stage of the final 20 years of high diversity of alternative powertrains. In the end, only all-electric cars will survive. The hybrids and plug-in hybrids are expected to die by 2040.
“With Tesla fever running high, middle-ground vehicles are becoming irrelevant.”
Well, that’s more or less right as hybrids and plug-in hybrids were always considered a middle solution to full EVs until all-electric becomes more affordable with longer range.
Lewis Hamilton crashes during Superbike run at Jerez
Lewis Hamilton in front
Reigning Formula 1 World Champion Lewis Hamilton took part in a private test aboard Yamaha Superbikes prepared by the Crescent World Superbike team this week, but suffered a small crash.
Hamilton has made no secret for his passion of bikes and motorcycle racing, and in recent years has become brand ambassador for Italian marque MV Agusta – who made a special edition of its F4 Superbike, known as the LH 44.
It's very unlikely NASCAR or IndyCar will sign another manufacturer (Update)
Miles cannot be serious about landing a 3rd manufacturer for IndyCar when the world is going electric and IndyCar is missing the boat.
UPDATE Like NASCAR, it is very very unlikely that IndyCar will add to their engine manufacturer count. By 2030 almost all passenger cars and trucks will be fully electric, or hybrid with a very significant electric component.
Hence, all the big R&D manufacturer money today is in electric motors and batteries.
The planned 2021 IndyCar engine formula does not even include a simple thing like KERS (Kinetic Energy Recapture System) where braking kinetic energy is captured in the form of battery and supercapacitor energy used to then drive an electric motor for a secondary push-to-pass so-to-speak. Of course on ovals the only braking you do is coming into the pits, so like turbo P2P today, it would be a tool to use on road and street courses - the large majority of IndyCar races.
Legacy Autosport Adds Nathan Toney To USF2000 Technical Staff
Nathan Toney (R)
Primed and ready to make their official Road to Indy Presented by Cooper Tires debut in the Cooper Tires USF2000 Championship in St. Petersburg, Florida next March, Legacy Autosport is pleased to announce the addition of Nathan Toney to the team’s technical staff for the 2019 campaign. Toney comes to the team with experience working Andretti Autosport in Indy Lights and IndyCar, NASCAR’s ThorSport, and most recently, with Belardi Auto Racing at the Chris Griffis Memorial Test at the Indianapolis Motor Speedway. The 22-year old will work alongside team owner Mike Meyer in the engineering room, while centering his pit lane focus on the team’s #77 machine.
Being a part of the Team USA Scholarship with as much history and prestige is certainly one of the coolest things I can say I have participated in to date. The program is known to identify and select the very best talents from each young group of drivers every year, and when I was selected, words cannot describe what a feeling it was.
For me, it was the big break that I had been hoping for – for quite some time now. I have experienced a lot of success in the karting side of my racing career, and the jump to cars has been something that I had always dreamed of.
Jorge Lorenzo to have second operation to treat injuries
Jorge Lorenzo will have second operation to treat injuries on Monday. Three-time MotoGP champion Jorge Lorenzo will undergo his second surgery in just over a month on Monday to address discomfort in his right foot.
To address this problem, Lorenzo will be operated on at the Clinica Quiron at the start of next week.
Tesla Is Reportedly Making Further Progress on Model 3 Production
Musk has the Tesla robots humming now
Tesla's Model 3 production ramp has been the primary focus for the electric-car maker all year. But after enduring some setbacks and falling behind production targets earlier this year, the company is reportedly finishing 2018 on a much brighter note than it started.
Tesla has achieved a production rate for Model 3 of 1,000 units a day, according to a report from Tesla-focused blog Electrek that cites an email from Tesla CEO Elon Musk to employees. This new production rate, if sustained for seven days, would mark a meaningful uptick in the company's production rate of 5,300 Model 3s per week achieved at the end of Q3.
A 4-cylinder hybrid Mustang won't roar like a lion. It will sound more like a sewing machine
Ford announced that it will offer a Mustang Hybrid, one of seven hybrid or electric vehicles the automaker plans to launch in the next five years. The six other electrified vehicles are: two pursuit-rated hybrid vehicles; an F-150 Hybrid that can operate as a generator; an all-electric SUV with a 300-mile range; an autonomous vehicle intended for taxi and ride-sharing duties; and a plug-in hybrid Transit Custom for the European market.
The Mustang Hybrid will be built at Michigan's Flat Rock Assembly Plant and could be the first performance-oriented hybrid from the company to actually deliver performance. Honda's CR-Z was the first hybrid from a major manufacturer to try to bring economy and a sporty drive, yet it left critics disappointed. With the Mustang Hybrid, Ford promises "V8 power and even more low-end torque." That got our attention.
Porsche 911 planned to be partially electric, but will that save it from extinction?
The world stopped when Porsche unveiled the eighth-generation of its classic, the 911. Internally known as the 992, the newest version of its rear-engined sports car carries the timeless formula that has been refined further, making the 911 Carrera S and 911 Carrera 4S modern classics that will surely tickle the hearts of Porschephiles.
However, what started out as a proposition during our Ride Along experience with the 2020 911 turns out to be true – a hybrid version of the 911 is underway but it's going to be a four-year wait.
Dempsey Porsche team caught cheating in Fuji (Update)
#88 and #77 Dempsey Porsches caught cheating
UPDATE The GTE-Am championship-leading Dempsey-Proton Racing squad has lost all points from the 2018-19 FIA World Endurance Championship season following a data logger infraction discovered at the Six Hours of Fuji.
The German team’s two Porsche 911 RSRs were found to have slipped under the 45-second minimum refueling time for GTE-Am and were subsequently given post-race time penalties following the Japanese round.
An investigation that was launched between last month’s Fuji event and this weekend’s race in Shanghai concluded that the cars’ data loggers provided inaccurate transmissions in a “fraudulent process”.
Extreme Speed Motorsports has closed its doors, ending a nine-year run in top-level sports car racing.
Multiple sources have confirmed to Sportscar365 that the Florida-based team has shuttered operations following the sale of its DPi and LMP3 equipment in recent weeks after failing to secure sponsorship for 2019.
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