Latest news with #DMCDeLorean
Perth Now
10-05-2025
- Automotive
- Perth Now
Audi cost cutting could see it sell Italdesign
Automotive design firm Italdesign may be sold by owner Audi as the Volkswagen Group seeks to tighten its financial belt. Union sources in Italy have told Corriere della Sera Audi has taken the first steps to offloading the famed automotive design firm, with Italdesign undergoing due diligence and valuation. Although no potential buyers have been named, a meeting has been scheduled with Italdesign employees for May 12 at the company's headquarters at Moncalieri, a suburb on the southern fringe of Turin. The company currently employs around 1000 people in studios across the world, including Italy, Spain, Germany, China and the United States. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Camera Icon DMC DeLorean Credit: CarExpert Audi's move to offload Italdesign is part of a wider push within the Volkswagen Group to cut costs and free up cash due to softening sales across Europe and increasing competition from Chinese automakers. As part of its cost-cutting efforts, in February Audi closed its factory in Brussels, where it had been making the Q8 e-tron and Q8 e-tron Sportback. It will also reduce its workforce in Germany by 7500 people by the end of 2029. Once one of the most profitable parts of the Volkswagen Group, Audi's operating margin fell to just 1.5 per cent in the first quarter of this year; automakers typically see 6 to 8 per cent as a good figure. Camera Icon Daewoo Matiz Credit: CarExpert Italdesign was founded in 1968 by designer Giorgetto Giugiaro and engineer Aldo Mantovani. The company's extensive credit roll includes a clutch of iconic supercars, including the DMC DeLoren, Lotus Esprit, and the BMW M1 supercar. One could argue Italdesign's work at the more affordable end of the spectrum has been even more influential, with the original Volkswagen Golf, and Fiat Panda, Punto and Uno are all penned by the company. Other credits include the first-generation Daewoo Matiz, Hyundai Excel, Lancia Delta, Audi 80, and Lexus GS. Camera Icon Lotus Esprit Credit: CarExpert Volkswagen purchased 90 per cent of Italdesign in 2010, with the remaining 10 per cent kept by Giorgetto Giugiaro and his family. In order to keep its Italian holdings together, Italdesign was placed with Lamborghini under Audi's ownership. The Giugiaro and his son sold their remaining stake to Volkswagen in 2015, and left the firm to setup their own design consultancy. Under Volkswagen ownership Italdesign continued to work with other automakers, although the volume of commissioned products has slowed significantly. Cars developed since 2010 include the Audi Q2, the limited edition Nissan GT-R50, and the Voyah Free for Chinese automaker Dongfeng. MORE: Everything Audi
Daily Maverick
28-04-2025
- Automotive
- Daily Maverick
Crossed Wires — Musk,Tesla and the first whiff of ruin
If it does not become competitive in price, range, charging time, design and features, then Tesla may well become an also-ran, to be sold, asset-stripped or, yes, sent to the same resting place to cuddle with the DMC DeLorean There are two narratives bouncing around the airwaves. The first is that almost everyone who is interested in environmentally friendly cars now dislikes Musk (because of DOGE, DEI and other antics), so they won't be buying Teslas – or won't be buying them again. The second is that Teslas are no longer exceptional cars (in fact, they are positively dowdy next to more recent competitors like BYD from China and VW in Europe), so they are no longer the EV of choice. Ergo, Tesla is on its way to bankruptcy. Or so it is claimed. A mere four months ago, when Tesla was the most valuable car company on earth with a valuation of $1.6-trillion, bankruptcy and Tesla wouldn't have been caught dead in the same sentence. But here we are. So, can the unimaginable happen? Yes. Well, maybe, maybe not, and definitely not soon. There are still too many variables in the frame. Let's look at some of the ingredients that went into this mess. I'll start with the numbers. Tesla's Q1 report, which came out last week, is a horror by any standards. Net income down 71% compared to last year, revenues down 25% from last quarter, market value now down more than 40% from 31 December 2024. But that is not the worst of it. Even the reduced net income of $444-million for this quarter requires clarification. Tesla sold $595-million of carbon credits during the period. In other words, they lost money in their auto business. These figures are so terrible that any financially literate reader will say WTF. So bad that, in a normal world, the CEO would immediately be fired. (There is no chance of this happening with the current Tesla board and the power of Musk's shareholding.) So bad that the Tesla story will probably end up at Harvard as one of their famed case studies of business catastrophes. Could this be a once-off stumble, to be laughed at over dinner by shareholders a year from now? No, it's unlikely, not with these harbingers: In the US, Tesla's EV market share dropped from 51% to 42% in a year, as rivals such as Chevrolet, Ford and Porsche gained ground. In Europe, it was even worse, with VW taking the lead and surging 157%. Then there is the price. In China, the comparable BYD is 15% cheaper. In the EU, the comparable VW is 35% cheaper. Oh, and the resale value of the Tesla has totally collapsed. It is about 50% lower than in 2022. Ouch. Ouch. Ouch. What about Tesla's other profitable business – its energy division (i.e. batteries)? It is still profitable, but China's CATL shocked everyone last week when it announced its new sodium-ion battery, which will facilitate a total range as high as 800km, and has a 5–80% charge time of just 15 minutes, which is twice as fast as the industry's current best charging level. The battery will be in mass production later this year. Tesla currently has no response to this – it does not produce a sodium-ion battery. Ouch again. But there's a bright spot There is one bright spot. Tesla sits on a huge pile of cash and short-term investments ($36-billion as of this financial report), a buffer large enough to staunch any immediate or even medium-term solvency problems. And Musk is promising a new lower-priced Model 2 by September, one that will compete head-on with BYD. Except that we have heard these promises before – remember robotaxis, Cybertruck, the Roadster, autonomous-driving (and even the now much-delayed Model 2) – so industry skepticism is running high. With regard to the Cybertruck, the less said the better. It's a dud – this century's Edsel. And as for Musk's great hope, the robotaxi, there is a bigger story to tell here (which involves some of Musk's sensor technology choices), but suffice to say that competitor Waymo is way ahead. This could change – a deal could be made with Waymo, which makes self-driving technologies not cars, but that would be an embarrassing surrender for Musk, and he does not like losing. The bottom line (excuse the pun) seems to be simple. If Tesla does not launch a mass consumer-priced competitor to VW, BYD and others (like Toyota and Ford) this year, then there seems no way to reverse this vertiginous downward spiral. If it is not competitive in price, range, charging time, design and features, then Tesla may well become an also-ran, to be sold, asset-stripped or, yes, sent to the same resting place to cuddle with the DMC DeLorean (the short-lived, gull-winged car of Back to the Future fame). And then, just as this article was going to press, there was another blow for the company. A Jeff Bezos-backed company called Slate just released an EV – a hybrid truck/SUV with a sticker price of $20,000. Dare I say it? Another ouch. Which brings us back to Musk. Has his extended absence, during which time he's been trying to remake America with Trump, been the cause of all of this? Will he return to steady the ship? Will he re-ignite a tsunami of innovations as in the good old days? Consider that all the decisions that brought Tesla to this precipice were made in 2022, 2023 and 2024 – auto manufacturing is a slow-moving business. He had his eye on the Tesla ball back then so we have to assume that he is to blame for decisions made back then. It is difficult to blame someone else when Musk's inability to delegate is legendary. Finally, can Musk entice his core buyers – those liberal-leaning environmental empaths – back to Tesla? No, he has cooked that goose. The video of him standing on stage with the chainsaw has put paid to that forever. Can he entice right-wing America to buy his cars? Nope – few of those buyers give a damn about EVs. They like fossil fuels – none of these namby-pamby, tree-hugging automobiles for them. A quote from Musk this week makes it clear where his head is at. In an earnings call with CNN (defending his work for Trump), he said: 'If the ship of America goes down, Tesla will go with it.' If I were a Tesla shareholder or a Tesla board member, that would mean one thing to me: Musk's priority is not Tesla. Tesla has lost its way and is not coming back. DM
The Sun
21-04-2025
- Automotive
- The Sun
Hugely iconic ‘cult' car is on brink of extinction with just 303 left on UK roads after four decades
ONE of the most iconic cars in existence is seemingly on the brink of extinction – with just over 300 left on the roads in the UK. The DMC DeLorean, beloved by film fans as the star of the Back to the Future series, is truly a sight to behold in 2025 – not least because the cool-looking motor is so incredibly rare. 5 5 5 To mark the 40th anniversary of Back to the Future, released in 1985, online auction platform Collecting Cars has revealed the latest statistics about the cult car from the Driver and Vehicle Licensing Agency (DVLA). They found that 303 are currently taxed for use on Britain's roads, while another 114 have statutory off-road notifications – meaning they're most likely rusting and gathering dust in barns or garages. It comes as, four years after the film's release, some 9,000 DeLorean DMC-12s rolled off the company's assembly line in Dunmurry, Northern Ireland. However, the brand collapsed just a year later – making the cars rare collector's items decades later. Such is their scarcity that Collecting Cars, as reported by Sky News, says it has sold just two in the past six years, with fully restored versions fetching as much as £80,000. The auctioneer's chief executive, Edward Lovett, claims a combination of rarity and Back to the Future's popularity has pushed prices up. In the film series, the car famously could travel back in time once the driver hit a speed of 88 mph – thanks to the brilliance of the eccentric Emmett "Doc" Brown, played by Christopher Lloyd, who fitted the car with a Flux Capacitor. Marty McFly, played by Michael J. Fox, then travels from 1985 to 1955 and accidentally stops his parents from falling in love – which threatens his own existence. Universal Studios' special effects department built three main DeLorean time machines for the movie. The hero car, which was used in the main action shots, was later restored and put on display at a motor museum. Iconic DeLorean time machine from Back To The Future sells for eye-watering price - but there's a big catch The second vehicle, known as the stunt car, was used in all three movies, and the body section was later sold to Planet Hollywood. After the famous chain shut down, the car was put on display at a museum in Hubbardston, Massachusetts. The third car was used for interior shots and was ripped apart so cameras could fit inside. This car was later sold to a Japanese company, where it was put on display. The promotional replica has working lights simulating the famous time machine – but sadly will never reach 88 mph as it has no engine. Back to the Future spawned two sequels and even has a popular musical in the West End, while reports suggest it could form part of the Universal Studios theme park announced for the UK. 5 5
The Irish Sun
21-04-2025
- Automotive
- The Irish Sun
Hugely iconic ‘cult' car is on brink of extinction with just 303 left on UK roads after four decades
ONE of the most iconic cars in existence is seemingly on the brink of extinction – with just over 300 left on the roads in the UK. The DMC DeLorean, beloved by film fans as the star of the Back to the Future series, is truly a sight to behold in 2025 – not least because the cool-looking motor is so incredibly rare. Advertisement 5 The iconic DMC DeLorean is now on the brink of extinction - some 40 years after the release of the iconic Back to the Future film Credit: Alamy 5 The classic motor, loved by film fans across the world, is now a rare sight on UK roads Credit: 5 The car had a starring role in the film series but now just 303 are taxed for use on British roads Credit: Kobal Collection - Shutterstock To mark the 40th anniversary of Back to the Future, released in 1985, online auction platform Collecting Cars has revealed the latest statistics about the cult car from the Driver and Vehicle Licensing Agency (DVLA). They found that 303 are currently taxed for use on Britain's roads, while another 114 have statutory off-road notifications – meaning they're most likely rusting and gathering dust in barns or garages. It comes as, four years after the film's release, some 9,000 DeLorean DMC-12s rolled off the company's assembly line in Dunmurry, Northern Ireland. However, the brand collapsed just a year later – making the cars rare collector's items decades later. Advertisement Read more Motors News Such is their scarcity that Collecting Cars, as reported by The auctioneer's chief executive, Edward Lovett, claims a combination of rarity and Back to the Future's popularity has pushed prices up. In the film series, the car famously could travel back in time once the driver hit a speed of 88 mph – thanks to the brilliance of the eccentric Emmett "Doc" Brown, played by Christopher Lloyd, who fitted the car with a Flux Capacitor. Marty McFly, played by Michael J. Fox, then travels from 1985 to 1955 and accidentally stops his parents from falling in love – which threatens his own existence. Advertisement Most read in Motors Exclusive Universal Studios' special effects department built three main DeLorean time machines for the movie. The hero car, which was used in the main action shots, was later restored and put on display at a motor museum. Iconic DeLorean time machine from Back To The Future sells for eye-watering price - but there's a big catch The second vehicle, known as the stunt car, was used in all three movies, and the body section was later sold to Planet Hollywood. After the famous chain shut down, the car was put on display at a museum in Hubbardston, Massachusetts. Advertisement The third car was used for interior shots and was ripped apart so cameras could fit inside. This car was later sold to a Japanese company, where it was put on display. The promotional replica has working lights simulating the famous time machine – but sadly will never reach 88 mph as it has no engine. Back to the Future spawned two sequels and even has a popular musical in the West End, while reports suggest it could form part of the Universal Studios theme park announced for the UK. Advertisement 5 A year before the firm went under, some 9,000 models rolled off the production line in Northern Ireland Credit: DeLorean 5 114 models have statutory off-road notifications – meaning they're most likely rusting and gathering dust in barns or garages Credit: mediadrumimages
Scottish Sun
21-04-2025
- Automotive
- Scottish Sun
Hugely iconic ‘cult' car is on brink of extinction with just 303 left on UK roads after four decades
Another 114 have statutory off-road notifications – meaning they're most likely gathering dust in barns or garages DRIVEN TO DEATH Hugely iconic 'cult' car is on brink of extinction with just 303 left on UK roads after four decades Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) ONE of the most iconic cars in existence is seemingly on the brink of extinction – with just over 300 left on the roads in the UK. The DMC DeLorean, beloved by film fans as the star of the Back to the Future series, is truly a sight to behold in 2025 – not least because the cool-looking motor is so incredibly rare. Sign up for Scottish Sun newsletter Sign up 5 The iconic DMC DeLorean is now on the brink of extinction - some 40 years after the release of the iconic Back to the Future film Credit: Alamy 5 The classic motor, loved by film fans across the world, is now a rare sight on UK roads Credit: 5 The car had a starring role in the film series but now just 303 are taxed for use on British roads Credit: Kobal Collection - Shutterstock To mark the 40th anniversary of Back to the Future, released in 1985, online auction platform Collecting Cars has revealed the latest statistics about the cult car from the Driver and Vehicle Licensing Agency (DVLA). They found that 303 are currently taxed for use on Britain's roads, while another 114 have statutory off-road notifications – meaning they're most likely rusting and gathering dust in barns or garages. It comes as, four years after the film's release, some 9,000 DeLorean DMC-12s rolled off the company's assembly line in Dunmurry, Northern Ireland. However, the brand collapsed just a year later – making the cars rare collector's items decades later. Such is their scarcity that Collecting Cars, as reported by Sky News, says it has sold just two in the past six years, with fully restored versions fetching as much as £80,000. The auctioneer's chief executive, Edward Lovett, claims a combination of rarity and Back to the Future's popularity has pushed prices up. In the film series, the car famously could travel back in time once the driver hit a speed of 88 mph – thanks to the brilliance of the eccentric Emmett "Doc" Brown, played by Christopher Lloyd, who fitted the car with a Flux Capacitor. Marty McFly, played by Michael J. Fox, then travels from 1985 to 1955 and accidentally stops his parents from falling in love – which threatens his own existence. Universal Studios' special effects department built three main DeLorean time machines for the movie. The hero car, which was used in the main action shots, was later restored and put on display at a motor museum. Iconic DeLorean time machine from Back To The Future sells for eye-watering price - but there's a big catch The second vehicle, known as the stunt car, was used in all three movies, and the body section was later sold to Planet Hollywood. After the famous chain shut down, the car was put on display at a museum in Hubbardston, Massachusetts. The third car was used for interior shots and was ripped apart so cameras could fit inside. This car was later sold to a Japanese company, where it was put on display. The promotional replica has working lights simulating the famous time machine – but sadly will never reach 88 mph as it has no engine. Back to the Future spawned two sequels and even has a popular musical in the West End, while reports suggest it could form part of the Universal Studios theme park announced for the UK. 5 A year before the firm went under, some 9,000 models rolled off the production line in Northern Ireland Credit: DeLorean
