Filed under: Motorsports, Ferrari

Click above to view a high-resolution gallery of the new Ferrari A1GP car

It was an ambitious target to design, develop, shake down and launch an all-new spec car across the series in less than a full year, but that’s what the organizers of the A1GP World Cup of Motorsport set out to do. Unfortunately, the first major setback inevitably meant that the series would have to be postponed, and that’s just what happened.

The new car has been under development with Ferrari for the past ten months or so - based on Ferrari’s Formula One racing car design - and things had been going well. However, when test driver Patrick Friesacher was injured after a vital suspension component failed, it was back to the drawing board. The delay means that the start of the fourth season, which was originally scheduled for September 21 at the Mugello track in Italy, will now be pushed back to Zandvoort, Holland, for October 4, which was initially planned as the second race of the season.

Check out the press release after the jump, and the new high-resolution gallery of the Ferrari-developed and -powered A1GP spec racer by clicking the thumbnails below.

[Source: A1GP]

Continue reading Suspension problem on Ferrari A1GP car delays season opener

Permalink | Email this | Comments

More : or continued click here

Filed under: Plants/Manufacturing, GM, GMC, Toyota, Earnings/Financials

Toyota Financial Services recently leaped over GMAC Financial services to take the lead as the biggest U.S. auto lender in terms of loan and lease contract volume. The study by AutoCount (a unit of the Experian Automotive company) estimates that Toyota captured 6.35% of the market from January through June, while GMAC had 6.2% for a close second place. Rounding out the top five were Chase Auto Finance, American Honda Finance, and Ford Credit (in that order).

As GMAC has made major cutbacks in leasing over the summer, many industry experts expect Toyota to hold its lead through the end of the year. A spokesperson from GMAC was quick to point out that the study did not include two wholly owned subsidiaries: Nuvel Credit and National Auto Finance. When those two companies are included, GMAC’s share increases to 6.72 percent — effectively placing them at the top again. While the automakers battle for the title position, the independent banks are the ones to watch. They’ve been steadily increasing their lending share as the Detroit 3 struggle with the rising costs of funds and declining credit ratings.

[Source: Automotive News, subs. req'd]

Permalink | Email this | Comments

More : or continued click here