Posts Tagged ‘Toyota’
Most Exotic Cars in Asia
Anyone who has spent much time near a racetrack or simply getting grease under their fingernails would gravitate to a car like the Balboni. A limited-edition Lamborghini built in honor of the storied company’s chief test driver, Valentino Balboni, was always going to be something special.
The more Ricky So learned about the Balboni, the more he wanted one. The owner of a successful construction company in Hong Kong, So already had a 2003 Lamborghini Gallardo and a 1996 Porsche GT2. But the opportunity to get behind the wheel of a Balboni powered by a 550-horsepower, V10 engine was simply irresistible.
“The power and the torque of a Lamborghini is so much like an old musclecar. It has a 5.2-liter engine, whereas so many other sports cars have 4-liter engines,” So says. “When it comes to power, nothing can replace cubic inches.”
The Balboni weighs 30 kg less than other Gallardo models, allowing it to jump from 0 to 60 mph in 3.9 seconds, while the top speed is said to be 199 mph.
Lamborghini made just 250 of the Balbonis worldwide, and only four were delivered to Hong Kong. The $291,800 price tag and the nine-month wait after placing an order only seems to enhance the exclusiveness of owning such an exotic car.
Automobili Lamborghini’s deliveries for its entire product line fell 37.7% last year to 1,515 cars worldwide due to the global recession, but sales in Asia-Pacific rose and now account for a quarter of all Lamborghinis sold. Lamborghini’s network in China has grown to include seven dealers and one sales affiliate.
Asia’s importance to the super high-end luxury car industry is evidenced by the growing proportion of sales generated in the region. Ferrari delivered 1,117 cars to Asia Pacific last year, 3% more than the previous year, while deliveries to North America fell by about 200 units to 1,467. Japan continues to be one of the prancing stallion’s top five markets worldwide.
Ferrari unveiled one of its most exclusive and extreme sports cars at last year’s Geneva International Motor Show. The 599XX was designed exclusively for the racetrack. It uses the same 6.0-liter V12 engine as the 599 GTB, but the power output was raised to 700 horsepower by modifying its combustion chambers, inlets and exhaust tracts. The car’s aerodynamics were also improved, and the weight was reduced by using composites and carbon-fiber. Production is expected to be limited to about 30 cars, costing 1.1 million euros ($1.5 million) each.
Drivers like So, who prefer the sound of an engine to the sound of their car’s stereo, have access to the world’s most exclusive and highest-performance supercars. Aston Martin, Bentley, Bugatti, Ferrari, Jaguar, Koenigsegg, Lamborghini, Maserati, Maybach, Mercedes-Benz, Pagani, Porsche, Rolls-Royce and Spyker have all extended their sales networks to Asia.
Last year, So and a few other Lamborghini owners started a club in Hong Kong to organize driving-related events like track days and golf trips to China. The club already has 65 members, all of whom own at least one Lamborghini.
Some supercar models, particularly the ones produced in limited numbers, can hold their value over time rather than depreciate quickly like common cars. A few club members have bought Lamborghinis for over $2 million Hong Kong dollars ($255,000) and then sold them a couple of years later for just $100,000 Hong Kong dollars ($12,820) less. So says he’ll probably never part with his Balboni.
U.S. opens formal investigation of 2010 Prius brakes
WASHINGTON (Reuters) – U.S. safety regulators opened a formal investigation on Thursday into consumer complaints about braking on 2010 Toyota Motor Corp Prius hybrids.
The Transportation Department’s National Highway Traffic Safety Administration (NHTSA) said it has received 124 complaints about momentary braking problems after motorists rolled over bumps or potholes. Four crashes were alleged by motorists to have been caused by the problems.
Toyota officials declined immediate comment. But the automaker’s engineers in Japan said they had fixed a software problem related to anti-lock brakes on the new Prius model.
Late on Wednesday, Transportation Secretary Ray LaHood spoke with Toyota President Akio Toyoda, who reassured him that Toyota takes “U.S. safety concerns seriously,” a Transportation Department statement said.
Toyota shares, which fell 6 percent on the New York Stock Exchange on Wednesday, were off another 1.8 percent to $72.18 in early trading on Thursday. They closed off 35 percent in Tokyo.
Toyota’s First Hydrogen Car to Cost $50,000
Toyota has said the company is aiming for a $50,000 price point for the first hydrogen-powered car.
Toyota has cut the cost of producing fuel-cell vehicles by roughly 90 percent in the last five years and as a result, is hoping to sell its first retail hydrogen automobile for $50,000.
Speaking to Bloomberg, Toyota’s managing director for advanced autos, Yoshihiko Masuda, said that the car maker had cut production costs to about one-tenth of earlier estimates that ran as high as $1 million a car. However, Masuda said Toyota would need to reduce current expenses by about half before starting retail sales.
“Our target is, we don’t lose money with introduction of the vehicle,” Masuda said. “Production cost should be covered within the price of the vehicle.”
Expected to arrive in 2015, the first model will be a sedan with the same driving range as a car that runs on gasoline but with “some extra cost.” General Motors, Honda, Daimler AG and Hyundai have all said they too will launch hydrogen cars in 2015, though price estimates for their vehicles have not been released.