Latest news with #Viper
Yahoo
21 hours ago
- Automotive
- Yahoo
Beloved but Doomed: Sporty Cars That Couldn't Stay in Production
Countless car manufacturers have thrown their hat into the ring to develop sporty two-door cars. Some have been loved, some have been hated, and some have been cared for by niche groups of enthusiasts. While most have been discontinued and several were forgotten over time, there were also sports cars that enthusiasts loved, but the market didn't, and the sales figures couldn't support continued production. That said, if you want one, these cars are still available on the used car market. The purpose of this article is to highlight cars that were once fan favorites but had their production canceled due to changes in consumer demands. For the purpose of this article, we are focusing on sports cars from the 2000s to the modern era that offer enthusiasts performance, style, and, to some, nostalgia. Each of these vehicles has its fan base and value, but was canceled due to declining sales (even if a lack of sales was only a portion of the formula that led to the cars' end of production). Whereas the 370Z coupe soldiered on, Nissan killed off the 370Z Roadster in 2019. While the hardtop got updates and something of a cult following, the convertible didn't see the same love. Nissan cited declining demand for roadsters as the reason, and let's be honest, most buyers looking for drop-top thrills were leaning toward the Miata or Mustang. Still, the 370Z Roadster offered a naturally aspirated V6 and a manual option, which should've made it more popular than it was. Nissan hasn't brought a convertible back since, leaving this Z variant a sunset chapter in the lineup. I'm an adamant believer that the Toyota MR2 deserved more love than it got. A mid-engine, rear-wheel drive platform with an affordable to maintain drivetrain sounds like an absolute dream, but perhaps it was too far ahead of its time — after all, everyone loved it when the Corvette went mid-engine. Toyota states it survived for three generations, but the MR2 was eventually discontinued in the States in 2005, with the major reason being shrinking sales. Fiat's attempt to revive the 124 Spider on the Mazda ND Miata platform was a solid idea in theory. It offered a turbocharged engine and Italian styling. In practice, however, it never outsold the Miata, and its quirky branding couldn't overcome Fiat's shaky rep in the U.S. After introducing the 124 Spider for the 2017 model year, it lasted just four years on the market before FCA pulled the plug in 2020. That's a shame, because the 124 Abarth version had a lot going for it, and it still turns heads today. The Dodge Viper has been discontinued not once, but twice, with the second — at least most recent — time being in 2017. Like the MR2, multiple factors contributed to the Viper's end, including dwindling sales despite its strong fan base. According to Eli Shayotovich on Slashgear, one of the other aspects that contributed to the Viper's discontinuation included stricter safety requirements for side airbags, and Dodge wasn't willing to invest in it. Will the Dodge Viper come back once again? We can only hope. Hyundai surprised everyone with the Genesis Coupe in 2009. With rear-wheel drive, manual transmission, and a turbocharged 2.0 four-cylinder or naturally aspirated 3.8-liter V6, it was a tuner's dream from a brand no one expected it from. After a refresh in 2013, it lost its early momentum, and Hyundai quietly discontinued it in 2016. The Genesis brand was spun off as a luxury arm, and the sporty coupe was left behind. It may not have had the finesse of a 370Z or Mustang, but it earned its stripes in the enthusiast community. The BMW i8 was the German car manufacturer's flagship hybrid, and while its spaceship-like design was eye-catching, many, including Car and Driver, felt it lacked performance. Sitting halfway between a luxury car and a supercar, the i8 didn't quite fit any one category well, and even though it is pretty cool, BMW axed it in 2020 after a 6-year production run. Of course, the company looked at multiple factors when stopping production of this hybrid, including COVID's effect on the market, causing them to focus on models with a broader market appeal. The seventh-generation Celica ended production in 2006 after nearly 35 years of nameplate history. The sporty front-wheel-drive coupe with high-revving engines and funky styling just didn't fit in a market moving toward more powerful RWD sports machines and SUVs. Toyota didn't replace it, which left a hole in its lineup until the GT86 arrived years later. It's a fan favorite now, and clean GT-S models are becoming increasingly rare (and expensive). According to MotorTrend, Toyota does have what could be a new Celica in the works. With an elongated front end, manual transmission, and a feature in the Fast and Furious movie saga, the Honda S2000 was, and still is, a beloved car to many. Honda officially broke hearts in 2009 when it announced the end of the two-door sports car's 10 years of production, with approximately 110,000 units produced in that time, making it a relatively popular sports car. To be clear, like every other vehicle on this list, people are still buying the Honda S2000 on the used car market; they just didn't keep up numbers enough to maintain production long-term. It wasn't all because of a lack of buyers either, as changing emissions standards also had a hand in it. VW's hot hatch coupe wasn't sold in the U.S., but the MK3 Scirocco developed a massive following abroad during its time on the market between 2008 and 2017. Built on the Golf GTI platform, it was sportier-looking, lower, and arguably more fun to drive. But emissions rules, tighter budgets, and an SUV-hungry market led VW to drop it in 2017. The decision still stings European enthusiasts who'd take this over another Tiguan any day. The Alfa Romeo 4C was never a super-popular car, but it was very cool and unique nonetheless. Unfortunately, it was discontinued in 2019 due to a combination of factors, including unenthusiastic sales numbers, according to Barnell Anderson at HotCars. Like the Toyota MR2, this fun, mid-engine sports car should, in theory, fit the bill for driving enthusiasts looking for something more affordable than a Porsche, but the 4C never became quite as popular as Alfa Romeo may have hoped. With fewer than 10,000 produced throughout its run and a smattering of negative reviews online from owners and journalists, such as Chris Chilton at CarScoops. Perhaps the car's small stature and tight cabin made it too niche to be appreciated by the masses, and the Alfa Romeo 4C still holds the hearts of its small following. Lotus finally pulled the Elise from the U.S. market in 2011, due to airbag regulations and diminishing demand. Lightweight, raw, and utterly mechanical, the Elise was the last word in analog purity. Unfortunately, it was also a tough sell to the average buyer. Lotus continued selling the Elise overseas until 2021, when the model was finally retired. With a curb weight under 2,000 lbs and a cult following, it's a future collectible for those who appreciate less-is-more engineering. Another car popularized by the Fast and Furious saga, the Mitsubishi Eclipse, was a hot and heavy item in the car scene in the early 2000s. It met its end in 2011 as consumers began to shift in the market, leaving the Eclipse with sales numbers that left a lot to be desired. According to the car also had some issues that deterred buyers, including issues with the manual transmission and faulty brake systems. The RSX was Honda's U.S.-market replacement for the Integra, and while it wasn't quite as raw as its Type R predecessor, the Type-S variant delivered with a high-revving K-series engine and tight chassis. Acura discontinued the RSX Type S in 2006, opting to pivot toward luxury in a move that alienated some of its core fans. Today, clean RSX Type-S models are getting hard to find, and their values are creeping upward for good reason. The Pontiac Solstice wasn't just an end for the sports car model when it was pulled from production; it marked the end of Pontiac itself. A car manufacturer that was once a performance car icon, Pontiac's time has come and gone. The Solstice was nonetheless a cool, sporty two-door that perhaps deserved more credit. As per RepairPal, the Pontiac Solstice has its issues, but it still has fans who've been mourning the loss of the car ever since. Part of that is probably because vehicle-specific parts like headlights are becoming increasingly harder to find. Built on the same chassis as the Pontiac Solstice, the Saturn Sky is another 2000s sports car with two doors and the option for a convertible top. MotorTrend reports that during its three years of production, more than 34,000 were built and sold. MotorTrend also says that the Solstice and Sky were Hail Mary attempts to save dying brands. If it isn't obvious by the lack of them on the road, these sporty roadsters weren't enough to save Pontiac and Saturn, leading to not only the end of production for these vehicles but the end of an era for these once-popular automotive brands. The SLK was always stylish, but the R171 and R172-generation SLK 55 AMG was a sleeper V8 monster in a small roadster shell. Hand-built AMG power in such a compact package was a certified recipe for fun, but not for mass sales. As convertibles fell out of fashion and emissions rules tightened, Mercedes moved on. The later SLC was a softer send-off, but the SLK 55 remains the enthusiast's pick. Mazda discontinued the rotary-powered RX-8 in 2012 due to declining sales. This sports car was rather unique due to its engine and drivetrain, rear-hinged rear doors, and near-perfect 50-50 weight distribution. While it did have some great qualities, it was relatively expensive, and it eventually failed to meet emissions standards in the European market, further reducing sales as it was pulled from regional markets. While the rotary engines provided a unique drivetrain, they did have some problems with the apex seals and, because of the rarity, left many repair and maintenance shops unable to work on them — or, at least, unwilling to. Still, Hagerty believes it's a future classic, and the high-revving Japanese sports car still has plenty of fans. A forgotten gem, the Smart Roadster was sold in Europe from 2003 to 2006. This tiny, rear-engine sports car had a manual-mode gearbox, go-kart handling, and styling reminiscent of an exotic concept car. Unfortunately, it was also plagued by quality issues and a high price tag. It flopped commercially, despite a small but loyal fan base. Smart pulled the plug just three years in, and it became one of the quirkiest 'what-ifs' of the modern era. Perhaps it was the drastic styling changes in the early 2000s that spelled the end for the once-great Pontiac GTO. Despite offering competitive performance from its V8 engine and the option for a manual transmission, CarBuzz reports only 40,000 units were sold in its short production run, leaving Pontiac — a company that already wasn't doing well — less than enthused. The Pontiac GTO still has a loyal fan group to this day, but sales at the time weren't enough to keep the car on the market. Other factors, like pricing and airbag regulations, also played a factor when discontinuing the car. Hagerty says the spunky little Chrysler Crossfire convertible was produced from 2003 to 2007 and offered a V6 engine with a choice of automatic or manual transmissions. Later years were upgraded with an SRT-6 option that offered a supercharger for added power. The Crossfire got, well, caught in the crossfire of both restructuring and low production numbers, leading to its end of production. According to SlashGear, only 34,000 Crossfires were sold in the US market, and due to the partnership with Mercedes, it shared its platform with the aging SLK and unfortunately also the higher price point you'd expect from the German brand. This list of cars shows just a handful of options that are fan favorites from the 2000s that didn't sell well enough to continue production, but there are plenty more out there. Want to give us your input on your favorite sports car that was discontinued from the market? Leave us a comment and let us know!
Yahoo
a day ago
- Business
- Yahoo
Why Sitio Royalties Corp. (STR) Skyrocketed On Tuesday
We recently published a list of . In this article, we are going to take a look at where Sitio Royalties Corp. (NYSE:STR) stands against other Tuesday's best performers. Sitio Royalties saw its share prices increase by 15.30 percent on Tuesday to finish at $19.97 apiece following news that it is set to be acquired by Viper Energy Inc. for $4.1 billion. In a statement, Viper Energy said it entered into a definitive agreement with Sitio Royalties Corp. (NYSE:STR), under which the former will acquire the latter in an all-stock transaction, including its net debt of approximately $1.1 billion. A close-up of an oil derrick against a colorful sunset sky, a symbol of the company's success. Under the transaction, each STR Class A stockholder will be able to receive 0.4855 Class A common shares of a new merger company. Meanwhile, shareholders of Sitio's operating subsidiary will get 0.4855 units of Viper's operating subsidiary. Lastly, Class C shareholders of Sitio Royalties Corp. (NYSE:STR) will be able to receive Class B stock in the merger company. 'The transaction was unanimously approved by the Board of Directors of each company and has been approved by the written consent of Diamondback as Viper's majority stockholder,' Viper Energy said. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2025. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Why Sitio Royalties Corp. (STR) Skyrocketed On Tuesday
We recently published a list of . In this article, we are going to take a look at where Sitio Royalties Corp. (NYSE:STR) stands against other Tuesday's best performers. Sitio Royalties saw its share prices increase by 15.30 percent on Tuesday to finish at $19.97 apiece following news that it is set to be acquired by Viper Energy Inc. for $4.1 billion. In a statement, Viper Energy said it entered into a definitive agreement with Sitio Royalties Corp. (NYSE:STR), under which the former will acquire the latter in an all-stock transaction, including its net debt of approximately $1.1 billion. A close-up of an oil derrick against a colorful sunset sky, a symbol of the company's success. Under the transaction, each STR Class A stockholder will be able to receive 0.4855 Class A common shares of a new merger company. Meanwhile, shareholders of Sitio's operating subsidiary will get 0.4855 units of Viper's operating subsidiary. Lastly, Class C shareholders of Sitio Royalties Corp. (NYSE:STR) will be able to receive Class B stock in the merger company. 'The transaction was unanimously approved by the Board of Directors of each company and has been approved by the written consent of Diamondback as Viper's majority stockholder,' Viper Energy said. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2025. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
a day ago
- Business
- Yahoo
Viper Energy to acquire Sitio Royalties for $4.1bn
Diamondback Energy's subsidiary Viper Energy has agreed to acquire Sitio Royalties in an all-equity transaction valued at around $4.1bn. The deal includes Sitio's net debt of approximately $1.1bn as of 31 March 2025. Sitio is a pure-play mineral and royalty company engaged in the acquisition of high quality oil and gas mineral and royalty interests in productive US basins. As of 31 March 2025, Sitio has accumulated around 34,300 net royalty acres via the consummation of more than 200 acquisitions. Viper owns, acquires and exploits oil and natural gas properties in North America, with a focus on owning and acquiring mineral and royalty interests in oil-weighted basins, primarily the Permian Basin. The boards of both companies have unanimously approved the transaction, and Diamondback, as Viper's majority stockholder, has also given written consent. Post-acquisition, Diamondback is expected to own around 41% of pro forma Viper's outstanding common stock and will continue to drive meaningful long-term oil production growth from the company's acreage. The transaction is anticipated to close in the third quarter of 2025 (Q3 2025), subject to customary regulatory approvals. Viper chief executive officer Kaes Van't Hof said: 'The combination of Viper and Sitio signifies an important moment for mineral and royalty interests. This combination creates a leader in size, scale, float, liquidity and access to investment grade capital in the highly fragmented minerals industry. Pro forma Viper is now clearly a must-own public mineral and royalty company in North America, with attractive size and scale in the Permian Basin. 'This transaction positions Viper to compete for capital with mid and large cap North American E&Ps [exploration and production companies]; except with higher margins, minimal operating costs and the lowest dividend breakeven in the space.' In conjunction with the acquisition news, Viper announced a 10% increase to its base dividend, which now stands at $1.32 per share annually, or $0.33 per share quarterly. "Viper Energy to acquire Sitio Royalties for $4.1bn" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
2 days ago
- Business
- Yahoo
Diamondback's Viper Energy buys Sitio Royalties for $4.1 billion in merger of the top two minerals players
Viper Energy will acquire Sitio Royalties for $4.1 billion in an all-stock deal combining the two biggest minerals and royalties players in the oil and gas sector. The June 3 industry shakeup further consolidates both the booming, but maturing Permian Basin in West Texas and the niche minerals and royalties space in which companies own the rights to fossil fuels beneath the surface, but do not drill or operate the wells. Viper is the publicly traded minerals subsidiary of Midland, Texas-based Diamondback Energy (ranked 383 in the Fortune 500), which continues to rapidly expand as the largest Permian oil and gas producer focused only on the West Texas region. 'The combination of Viper and Sitio signifies an important moment for mineral and royalty interests,' said Diamondback and Viper CEO Kaes Van't Hof in a prepared statement. 'This combination creates a leader in size, scale, float, liquidity, and access to investment-grade capital in the highly fragmented minerals industry.' The deal allows the expanded Viper the scale to compete for capital even with large-cap exploration and production players that own and operate their own oil and gas wells, Van't Hof added. The deal is the biggest in the minerals sector since Sitio first emerged as a power player in 2022 through its $4.8 billion combination with Brigham Minerals. The $4.1 billion equity deal, including $1.1 billion in debt assumption, represents an almost 15% premium on Sitio's stock value, which rose by 12% in early trading June 3. The deal is expected to close in the third quarter. Viper's stock largely held flat in early trading with a market cap of about $11.5 billion, while Diamondback rose 1% to a value of more than $40 billion. Diamondback's ascent continues after its nearly $4.1 billion acquisition of Double Eagle assets on April 1—a seemingly popular acquisition price for Diamondback—and its much larger $26 billion deal for Endeavor Energy Resources last year. Earlier this year, Sitio CEO Chris Conoscenti told this reporter that he saw 2025 as a growth opportunity through acquisitions. However, in the publicly traded energy space, a company is always for sale when the offer is right. In the booming Permian, which produces roughly 40% of the nation's crude oil and much of the natural gas, propane, butane, and ethane as well, Viper is more strongly positioned in the Permian's eastern Midland Basin, while Sitio is bigger in the western Delaware Basin that extends into southeastern New Mexico. 'This transaction is the next logical step in Sitio's evolution,' said Sitio chairman Noam Lockshin in a statement. 'By adding Sitio's coverage of the Delaware Basin to Viper's position in the Midland Basin, the combined company will be well positioned in the Permian for years to come.' The deal expands Viper's minerals footprint in the Permian by about 25,300 net royalty acres to a total of 85,700 net acres, about 43% of which are operated by the parent Diamondback, according to Viper. The net royalty acreage represents the geographic scale and value of Viper's ownership position of the unrecovered oil and gas still underground. The merger also expanded Viper beyond the Permian a bit with 9,000 net royalty acres in other oil and gas basins in or near South Texas, Colorado, and North Dakota. 'We are still focused on the Permian, and will hold the other basins for now—but eventually might sell them if prices improve,' Van't Hof told Fortune about the non-core assets being acquired. Diamondback is expected to own roughly 41% of Viper's outstanding shares after the deal, down from a majority ownership today. 'While this transaction will reduce Diamondback's ownership in pro forma Viper,' Van't Hof stated, 'it does not reduce the significance of the relationship between Diamondback and Viper. The Diamondback drill bit remains Viper's biggest competitive advantage and the most visible source of long-term production growth at Viper. 'Mineral interests offer the highest form of security and upside in the oil field, and any and all benefits an operator manages to unlock accrues directly to the mineral holder without any capital risk, forever,' he added. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
