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Europe’s financial situation is, well, bad. So no one was surprised to see analysts’ low expectations for German carmakers. But the numbers are out, and whaddya know? Three German auto companies have reported better results than predicted.

BMW reported this week that its first quarter profit rose 19 percent. BMW said 1-Series sales jumped 20 percent, which helped the company deliver a record total of 425,528 vehicles in the first quarter.

Last week, Daimler and Volkswagen blew past analysts’ expectations with VW increasing profit 10 percent and Daimler making 4.9 percent more that last year’s first quarter.

Much of the profit and sales boost is due to growing popularity of German models in U.S. and China. A couple of analysts quoted in a Bloomberg report are split on what the future holds. One says he expects BMW and VW to raise their second quarter forecasts. Another sees China’s market cooling off and gives BMW a neutral rating while rating VW and Daimler as good buys. So far this year automotive companies (including suppliers) are the best performing stocks in Europe.

German automakers defy analyst predictions by earning huge profits

It’s hard to believe that the Volvo XC90 has been on the market since 2003. That’s 10 model years ago, predating our own existence as a website. Even the XC90 mid-cycle refresh that happened in 2007 seems like an eternity ago. So it stands to reason that for 2013 Volvo would introduce… yet another year of the same old thing.

Well, not exactly. The 2013 XC90 has been “delightfully refreshed,” though we’re pretty sure that the color-coordinated exterior and LED daytime running lights were actually introduced last year. But hey, don’t fix it if it ain’t broke.

Volvo has also rejiggered the trim packages on the XC90, which now starts at $39,500 plus $895 delivery. And that Yamaha-built V8 that disappeared this year? Still gone.

While you wait with us for the next-generation XC90, go ahead and scroll down to read the full press release and check out the images in our gallery. Then do it again. And again…

Continue reading Volvo releases details on ever-so-slightly updated 2013 XC90

Volvo releases details on ever-so-slightly updated 2013 XC90

Nissan has already begun spinning wrenches on the company’s crowd-sourced project 370Z, and the automaker has been kind enough to craft a well-made video documenting the build. Fans of the brand chose a GReddy twin turbo kit, which should crank up the 3.7-liter V6 to the tune of around 500 horsepower. The Stage One clip follows the build as technicians dismantle the front of the sports car, yank the engine and bolt on the aftermarket goods. Fans also chose a GReddy Ti-C catback exhaust to help the engine breathe a little easier while hustling down the track, so the pipes go on next.

Nissan plans on documenting the full build before unveiling the project at the upcoming ZDayz 2012. If you’re curious about the creation, you can follow along on the Nissan Performance Facebook page. In the mean time, scroll down to check out the video for yourself.

Continue reading Getting to know the crowd-sourced Nissan 370Z

Getting to know the crowd-sourced Nissan 370Z

Audi is rapidly expanding its crossover range, with the Q3 recently joining the Q5 and Q7, not to mention the BMW X6-rivaling Q6 that’s in the pipeline. But now, according to Auto Express, Audi is working on an entry-level Q2 crossover that would take on the likes of the Nissan Juke and Mini Countryman.

Auto Express has come up with a rendering of the Q2 (pictured right, click to see the full deal), which we’ll reportedly see in concept form sometime in the next 12 months, and – surprise, surprise – it looks like a sportier Q3 or, more to the point, a high-riding A1. Because of its small size, powertrains will likely be plucked out of the A1 range, meaning a 1.4-liter turbocharged inline-four and a 1.6-liter diesel four will be offered.

Audi will also reportedly take a cue from Mini with the Q2 launch, encouraging owners to personalize their small CUVs in a number of ways. According to the report, buyers will be able to opt for contrasting roof and mirror colors, as well as different-colored major interior trim bits, including the seats and steering wheel.

The Q2 will ride on the same MQB architecture that is set to underpin the full range of Volkswagen Group small cars. That said, Auto Express reports that the Q2 will launch before the rest of the small cars are facelifted in 2014.

Audi Q2 to take on Nissan Juke?

It’s hard to believe that BMW has been selling SUV’s for 13 years now. When the BMW X5 launched to great controversy in 1999, “crossover” had yet to be coined and not a soul on this planet would have predicted that one day BMW would be offering the two-sizes-smaller X1. Yet it hits dealer lots this fall, in multiple models with a long line of options and trim packages.

The most basic choice when it comes to the X1 is whether you want a four- or six-cylinder engine. The two-liter, turbocharged four delivers 240 horsepower and 260 pound-feet of torque and is available exclusively with an eight-speed automatic, though both rear-drive (X1 sDrive28i) and all-wheel-drive (xDrive28i) versions are available. BMW says rear-drive four-cylinder X1 models can do 0-60 mph in 6.2 seconds, while the all-wheel-drive model is a tenth slower. Projected EPA fuel economy numbers are 24 mpg city, 33 highway, and 27 combined for the rear-drive model and 22 city, 30 highway, and 25 combined with all-wheel-drive.

Then there’s the six. With three liters of displacement and a single turbocharger, the N55 inline-six makes 300 hp and 300 lb-ft of torque. Available exclusively with a six-speed automatic and all-wheel-drive, the X1 xDrive35i does 0-60 in 5.3 seconds, but you’ll pay for that power at the pump. EPA ratings are just 18 mpg city, 27 highway, and 21 combined. The real world fuel economy difference between the four- and six-cylinder X1 models could prove to be even greater than what’s reflected in the EPA numbers, as the four-cylinder models include start-stop technology and eco modes, which are not part of the xDrive35i package.

And before we move on to trim packages, note that there is no manual transmission available in any X1. Keep reading for more ruminations on the 2013 X1.

Continue reading BMW releases slew of 2013 X1 photos, details fuel mileage and pricing

BMW releases slew of 2013 X1 photos, details fuel mileage and pricing

Chances are, we’ll never be able to park a Bugatti Veyron in our own personal garage. It’s sad, we know. Fortunately for us, the crew at Visual Spicer have worked up a little something special to ease the pain: Behold a 2.5-foot long papercraft Veyron. The project soaks up 44 pages of 8.5×11-inch printer paper and encompasses a whopping 159 parts. Needless to say, sticking this thing together is going to take some time. And ink.

The good news is, the templates are entirely free, which means we’ll be commandeering the dining room table for construction purposes in sweet little time. You can scroll down below to check out a time-lapse construction video for yourself or download the template over at Visual Spicer. We’re sure they wouldn’t mind a donation or two, either.

Continue reading How to make a giant paper Bugatti Veyron

How to make a giant paper Bugatti Veyron

John Liu, New York City comptroller, has said he won’t register the contract for a fleet of new Nissan taxis until every last one is made wheelchair accessible. There are currently just 231 cabs with wheelchair ramps in the city, though that number will jump by another 2,000 units next year. Even so, Liu said the current cab system is “separate and unequal.” The city comptroller signs off on every contract the city makes, but Liu doesn’t technically have the authority to block the contract unless there’s evidence of corruption. While speaking at his press conference, Liu admitted as much during questioning from reporters.

According to The New York Post, Liu may be attempting to draw attention away from a federal probe into his campaign finances as he vies to be a mayoral candidate in the next election. While he says he takes the federal investigation seriously, he also plans to continue with the work of his office and his blossoming campaign for mayor.

NYC comptroller threatens Nissan taxi deal over wheelchair accessibility

AutoWeek reports Bentley is slowly building a team for the brand’s return to the 24 Hours of Le Mans. The automaker has hired Graham Humphrys as a consultant. Humphrys penned the BMW V12 LMR that took the win at the 1999 Le Mans, and he’s now tasked with heading up a feasibility study for the British luxury manufacturer.

According to Brian Gush, chassis and powertrain director for Bentley, the automaker is currently exploring which class would best suit the company. Humphrys’ 30 years of racing experience, including roles on vehicles like the March 82G Group C car, and with companies like Aston Martin and Spice Engineering, should prove instrumental in narrowing down the field.

In the past, Gush has hinted that Bentley would be at home in the GT class, speciffically in the GT3 category. If true, the company will likely campaign a version of the current Continental Supersports, though the automaker could just as easily wait for the next-generation Continental before jumping into the Le Mans fray. AutoWeek says there’s no time table for the manufacturer’s return at the moment.

Bentley returning to 24 Hours of Le Mans

We just attended a thorough workshop covering the tech inside the next Audi A3, the new compact from Ingolstadt that the U.S. gets in October 2013 as a five-door Sportback model, as well as a new four-door small sedan. A concept version of the four-door was shown at the Geneva Motor Show last year, while deliveries of this European hatchback start this July.

Our first drive of the three-door premium hatchback model that will be available at launch happens later this month, though it’s sort of a shame we won’t be getting this three-door here in the States. The five-door Sportback model that will be sold in the U.S. will be shown this October at the Paris Motor Show and will be available in Western European in January of next year. The premium hatch segment is fillling up fast now with this Audi, then the Volvo V40, to be followed then by the all-new Mercedes-Benz A-Class.

Continue reading New details on the next Audi A3

New details on the next Audi A3

We’ve taken the bone-stock 2012 Chevrolet Camaro ZL1 down the quarter-mile drag strip at Bondurant in Arizona several times. The very first pass we made netted us a time slip in the mid-12-second range. That’s an impressive performance for a car wearing road-legal radial tires with zero preparation and a driver familiarizing himself with the car.

We instantly knew this car was capable of more, and wondered how long it would take before we saw our first elapsed time in the 11s. Turns out the wait is over.

General Motors itself is the perpetrator of the blazing-fast quarter mile. Chevrolet engineers took two completely stock ZL1 coupes to Milan Dragway in Michigan – one automatic and one manual – and recorded a best pass of 11.93 seconds at 116 miles per hour. That was with the automatic; the row-your-own model managed 11.96 at 117 mph.

Those looking to drag their new Camaro ZL1 ought to be pleased with this news. But even if your race track aspirations lean more toward a curvy strip of asphalt, the baddest production Camaro ever made has you covered. Consider its Nürburgring lap time of seven minutes and 41 seconds as proof of its prowess.

Likely sensing that there would be plenty of Ford fans skeptics demanding proof of its quarter mile performance, Chevrolet has released a video showing off its drag strip exploits at Milan. Scroll down below for the video, along with the related press release… and join us in waiting for a response from Ford.

*UPDATE: We’ve placed a call to Chevrolet inquiring whether these times were recorded on stock tires, as the press release indicates, or on drag radials. We’ll add another update as soon as we hear back.

Continue reading 2012 Chevrolet Camaro ZL1 runs quarter mile in 11.93 seconds [UPDATE]

2012 Chevrolet Camaro ZL1 runs quarter mile in 11.93 seconds [UPDATE]

We’ve taken the bone-stock 2012 Chevrolet Camaro ZL1 down the quarter-mile drag strip at Bondurant in Arizona several times. The very first pass we made netted us a time slip in the mid-12-second range. That’s an impressive performance for a car wearing road-legal radial tires with zero preparation and a driver familiarizing himself with the car.

We instantly knew this car was capable of more, and wondered how long it would take before we saw our first elapsed time in the 11s. Turns out the wait is over.

General Motors itself is the perpetrator of the blazing-fast quarter mile. Chevrolet engineers took two completely stock ZL1 coupes to Milan Dragway in Michigan – one automatic and one manual – and recorded a best pass of 11.93 seconds at 116 miles per hour. That was with the automatic; the row-your-own model managed 11.96 at 117 mph.

Those looking to drag their new Camaro ZL1 ought to be pleased with this news. But even if your race track aspirations lean more toward a curvy strip of asphalt, the baddest production Camaro ever made has you covered. Consider its Nürburgring lap time of seven minutes and 41 seconds as proof of its prowess.

Likely sensing that there would be plenty of Ford fans skeptics demanding proof of its quarter mile performance, Chevrolet has released a video showing off its drag strip exploits at Milan. Scroll down below for the video, along with the related press release… and join us in waiting for a response from Ford.

Continue reading 2012 Chevrolet Camaro ZL1 runs quarter mile in 11.93 seconds

2012 Chevrolet Camaro ZL1 runs quarter mile in 11.93 seconds

Motor Trend reports Toyota may have plans to resurrect the Supra name, or at least a new sports coupe to fill the role of the long-dead two door. Hot on the heels of sports cars like the Lexus LFA and Scion FR-S, designers are reportedly working on dusting off the 2007 FT-HS Concept for another go at life. Paired with the company’s GRMN MRS prototype chassis, the vehicle will likely deliver up to 400 horsepower from a 3.5-liter V6 engine and an electric motor.

If the notion of a hybrid Supra is enough to ruffle your feathers, you may want to stop reading right now. Unlike the previous sports coupe, the new model will make use of an all-wheel-drive system. Still reading? MT reports the machine will put power to all four wheels via a CVT pulled from the Lexus RX.

That noise? It’s the sound of a lonely sad trombone echoing down the halls of the internet.

Of course, all of this seems to be little more than a few educated guesses stuck together. Toyota CEO Akio Toyoda has voiced his support for a Supra successor in the past, and if green-lit, the model could see production by 2015. Early guesses say the car would bow with a $60,000 price tag, which would make for a perfect argument against sticking a new NSX in your garage.

Toyota Supra successor back in the cards?

We Americans sure do love the freedom of owning our own automobile, but the price of that freedom is climbing. AAA has released its 62nd annual “Your Driving Costs” study, which shows a 1.9-percent year-over-year increase in the cost of auto ownership. That’s an average of $8,946 per year per car, with costs including monthly payment, fuel, maintenance and insurance.

Given the sharp rise in the cost of a gallon of petrol, it’s no surprise that prices at the pump are up 14.8 percent, or an average of 14.2 cents per mile. Tire prices are up 4.2 percent, in part because material prices have skyrocketed. The average insurance policy jumped by $33 versus 2010 numbers, with an average rate of $1,001 per year.

Interestingly, used cars are worth more than they were a year ago, with a depreciation drop of 4.9 percent, which means a new car purchase may hold its value a little better than before.

If $8,946 is too rich for your blood, AAA shows that the best bet could be a smaller sedan. Compact models average $6,735 per vehicle, while 4WD SUVs top the charts at $11,360. Large sedans are close to the SUV numbers, with an average of $11,324. AAA based its findings on a driving cycle of 15,000 miles per year. Scroll down below to read the AAA press release.

Continue reading Average cost of car ownership rises to $8,946 per year

Average cost of car ownership rises to $8,946 per year

While the Toyota TS030 Hybrid won’t be participating in this weekend’s FIA World Endurance Championship race at Spa-Francorchamps in Belgium due to a crash in pre-season testing last month, that didn’t stop the automaker from bringing the new endurance racer as a preview for what’s to come for the 24 Hours of Le Mans in June. The TS030 even made time for a quick photoshoot at the infamous Masta Kink alongside the new Audi R18 e-tron Quattro, which happens to be making its race debut this weekend.

While both the Audi and Toyota employ hybrid powertrains, a first for endurance prototypes, each go about it in very different ways. The TS030 makes use of a naturally aspirated 3.4-liter V8 while the R18 e-tron Quattro uses a turbocharged diesel V6. Audi’s hybrid system powers the front wheels, hence the Quattro name, while Toyota has yet to announce whether it’s system will drive the front or rear wheels.

The closed cockpit racers make for quite an attractive couple, and we hope it’s a pairing that will form a lasting rivalry in the coming years.

Toyota TS030 and Audi R18 E-Tron Quattro pose for the camera

While the Toyota TS030 Hybrid won’t be participating in this weekend’s FIA World Endurance Championship race at Spa-Francorchamps in Belgium due to a crash in pre-season testing last month, that didn’t stop the automaker from bringing the new endurance racer as a preview for what’s to come for the 24 Hours of Le Mans in June. The TS030 even made time for a quick photoshoot at the infamous Masta Kink alongside the new Audi R18 e-tron Quattro, which happens to be making its race debut this weekend.

While both the Audi and Toyota employ hybrid powertrains, a first for endurance prototypes, each go about it in very different ways. The TS030 makes use of a naturally aspirated 3.4-liter V8 while the R18 e-tron Quattro uses a turbocharged diesel V6. Audi’s hybrid system powers the front wheels, hence the Quattro name, while Toyota has yet to announce whether it’s system will drive the front or rear wheels.

The closed cockpit racers make for quite an attractive couple, and we hope it’s a pairing that will form a lasting rivalry in the coming years.

Toyota TS030 and Audi R18 e-tron Quattro pose for the camera

Automotive News reports BMW and Hyundai are currently engaged in talks that may lead to the two companies partnering on engine development. A German industry newsletter reported that Hyundai Chairman Chung Mong-koo’s son, Chugn Eui-sun, recently met with a small group of BMW executives in Munich, and that the move would likely help the two manufacturers offset the heavy costs of engineering a new engine group. That cost can be as much as $1.3 to $2.6 billion.

Not surprisingly, BMW refused to comment on the rumored deal, though the company has been quick to dismiss any notion of expanding its corporate partners beyond the current group. Right now, BMW works with PSA/Peugeot-Citroen, Toyota and Daimler, though the manufacturer is also currently in talks with General Motors. Even so, BMW has made no secret of the fact that it is currently hard at work on a new engine architecture, and a corporate partner would be a smart way to spread development costs.

BMW partnering with Hyundai on engine cost-sharing?

There’s good reason this Mini more than doubled it’s pre-sale estimate, and it’s not because Neil Armstrong once drove it. No, Lot 307 at Bonhams’ Hendon, U.K., sale was bid up to $65,100 because it’s an exceptionally rare early Mini, just the eighth of the iconic cars ever manufactured, according to the auction company.

The seller was clearly able to capitalize on the current collector car trend of finding unrestored survivor cars – those gems that have somehow escaped not only the ravages of time and oxidation, but five decades of enthusiastic collectors armed with an attitude that tearing it down to the base metal and building it back up, “better than new,” is the only way to enjoy vintage iron. The auction company advertised this 1959 Austin Seven (the Mini name wasn’t applied to the Austin version until 1961) as the oldest unrestored Mini, saying that only three earlier cars are known to exist, one of which is in the British Motor Industry Heritage Trust museum.

Unrestored cars have achieved their recent popularity in part because they serve as records of how the cars originally came from the factory. Production standards in the ’50s and ’60s were much more lax than they are now, and written records can be hard to come by, hence the need for cars like this to direct historians and restorers alike.

The Mini, of course, is one of the most popular cars of all time, remaining in production with few changes from 1959 through 2000. Over 5.3 million of the cars were produced over that period, before BMW shut down production to launch its modern version of the car.

Scroll down to read Bonhams full catalog description.

Continue reading Why did this Mini sell for over $65,000?

Why did this Mini sell for over $65,000?

Renault-Nissan aims to increase its stake in Avtovaz, giving the alliance majority control over Russia’s largest automaker. The deal will likely see Renault and Nissan vehicles manufactured beside Lada models in the near future. Avtovaz recently finished a new production facility in Togliatti where the three brands plan to produce up to 1.6 million units per year. That move would make the Togliatti plant one of the largest automotive manufacturing facilities in the world. The companies expect the agreement to become final by 2014.

Technically, the deal is structured under a joint venture between Renault-Nissan and Russian Technologies, a state-owned corporation. Under a recently-signed memorandum of understanding, Renault-Nissan will own 67.13 percent of the venture, which will own 74.5 percent of Avtovaz. The alliance already holds a 25 percent stake in Avtovaz.

Under the MOU, Renault will invest around $300 million in the joint venture, while Nissan will put in $450 million.

Renault-Nissan moves to take control of Russia’s largest automaker

We are currently barreling toward the end of the week, which means there’s a good chance you’re looking for ways to chip away at the time card. Allow us to lend you a hand. Chris Harris recently took it up on himself to line up a three very expensive, very powerful German track-bred machines for a little showdown. With names like the Porsche GT3 RS 4.0, BMW M3 GTS and the Mercedes-Benz C63 AMG Black Series, the half-hour clip all but guarantees some giggles. Since these are all coupes that are supposed to be able to pull double duty on the street and on track, Harris puts one and all through a two-day drive.

Day One features plenty of time on the street, where things like how quickly the dual-clutch transmission in the M3 GTS don’t matter nearly as much as a functional Bluetooth phone pairing system. Of course, Day Two is the fun stuff. That’s when all three sports cars are pressed around a track to see which can return the best lap time. How does it turn out? We won’t spoil it for you. You’ve got time to waste. Scroll down to check out the clip for yourself.

Continue reading Chris Harris pits C63 AMG Black Series against 911 GT3 RS 4.0 and M3 GTS

Chris Harris pits C63 AMG Black Series against 911 GT3 RS 4.0 and M3 GTS

Cadillac Racing just wrapped up competition at Miller Motorsports Park as part of the Pirelli World Challenge. Before the race kicked off, the crew spent a few hard laps getting the CTS-V Coupe Race Cars sorted and was kind enough to strap a few cameras to the machines while they were on track. If you’re looking for a professional view at what it’s like to take a lap while behind the wheel of the fire-breathing Caddy, look no further than the clip after the jump.

Drivers Andy Pilgrim and Johnny O’Connell both take the time to talk us through the apexes, brake points and subtle nuances of the track surface at race speed. Very cool.

O’Connell walked away with a second-place finish just behind Patrick Long in his Porsche 911 GT3, while Pilgrim was nudged off the podium by Mike Skeen in third place with his Corvette Z06. Scroll down to check out the video for yourself.

Continue reading Cadillac gives guided tour of Miller Motorsports Park in CTS-V Race Car

Cadillac gives guided tour of Miller Motorsports Park in CTS-V Race Car