Toyota unveils its Ultimate sports coupe concept.

A daring new Toyota coupe concept breaks cover at the Detroit motor show today. The new FT-1 concept is the result of Toyota’s Calty design studio’s mission to create the ultimate sports car.

The California-based team, which celebrates its 40th anniversary this year, has produced a car that is strikingly modern, yet which makes reference to Toyota’s rich sports car history, going back to the 2000GT of the mid-1960s.

The exterior captures the look of racecar with a curvilinear form, pronounced front wings and sharply defined contrasts that express powerful performance. The FT-1’s optimum aerodynamic qualities are communicated by its large air intakes, exhaust ports and retractable rear wing.

The front engine/rear-wheel drive configuration allows the cockpit to set further towards the rear of the car, within the wheelbase, helping improve weight distribution and create classic sports car proportions. The wraparound windscreen and side glass arrangement are a clear nod to the design of the original 2000GT.

The ergonomics of the cabin capitalise on the car’s low centre of gravity, helping the driver derive the maximum reward from the driving experience. A delta-shaped display zone helps make the driver feel at the heart of the action, fully connected to the car. This quality is reinforced by the Formula 1-style steering wheel and a colour head-up display that projects key information just above the wheel. The designers have pushed the A-pillars as far back as possible, to increase visibility when cornering.

Traditionally Toyota’s design decisions have been driven by consensus among a large group of people; as part of a company movement to give Toyota products more energy and passion, the process has been streamlined. This approach has been fundamental to the development of the FT-1, a concept that captures Toyota’s aim of creating cars that connect more deeply with customers and generate a more satisfying ownership experience.

Kia to launch new concept at Detroit.

• First image of new concept car
• Designed by Kia team in Irvine, California
• 2+2 sports concept to star at NAIAS

Kia is set to unveil a stunning sports car concept at the North American International Auto Show in Detroit in January.

Conceived and designed by Kia’s California-based team at Irvine, the 2+2 sports car is aimed at delivering head-turning looks whilst providing superb driving enjoyment whether on the road or at the track.

The concept will be unveiled at Kia’s stand at the NAIAS on Monday 13 January.

Ferrari posts significant gains at the nine month period.

• Revenues: 1.711 million euro (+6.7%)
• Trading profit:  264.2 million euro (+20.2%)
• Net profit: 178.8 million euro (+23%)
• EBITDA: 454 million euro (+15%)
• Record industrial net cash position: 1.350 million euro
• Homologated cars delivered:  5,264 in line with 2012
• A new company is being created to manage brand-related activities

The Ferrari S.p.A. Board of Directors met today under the chairmanship of Luca di Montezemolo to examine the financial results for the first nine months of 2013.

Ferrari’s strategic decision announced last May - to reduce volumes and maintain exclusivity while also increasing revenues - has already begun to yield its first results.  While deliveries to the dealership network have remained largely unchanged (5,264, three less compared to the first nine months of 2012), revenues have increased by 6.7 per cent to 1.711 million euro.

Trading profit jumped by over 20 per cent to 264.2 million euro as did net profit to 178.8 million euro (+23 per cent).

The company’s industrial net cash position has reached new historic record level and, on September 30th, stood at 1.350 million euro, despite an on-going commitment to heavy investment in product development which has resulted in the company’s most complete and innovative range ever, as demonstrated by the models launched in the first nine months of the year: LaFerrari, the first hybrid which represents the ultimate expression of technological innovation, performance and futuristic styling, and the 458 Speciale, an extreme V8-engined berlinetta with Ferrari-patented electronic dynamics controls and aerodynamics.

Ferrari’s industrial net cash flow for the period was 281 million euro.

These results are the fruit of an excellent product mix (12-cylinders accounted for 25 per cent of sales thanks to the consistent success of FF and higher F12berlinetta deliveries), an increasing contribution from all the services for customers, such as the Atelier and Tailor Made personalisation programmes, restoration of classic cars, along with continuing, significant turnover from Brand activities.

Markets

Sales continue to grow (+8 per cent) in the USA and Canada to 1627 cars, and it is foreseen that deliveries will increase moderately up until the end of 2013 to avoid excessively long waiting lists.

In Europe, the UK (+15 per cent, 580 cars delivered) is yielding very gratifying results, thanks in part to the arrival of the right-hand drive F12berlinetta. Deliveries to Germany were down by 3 per cent (520 cars) in line with the plan announced earlier this year. Italy remains a marginal market due to restrictive fiscal policies, and now accounts for less than 3 per cent of total sales with just 145 cars delivered to dealerships.

Sales were excellent in the Middle East (+40 per cent, 382 cars) and Japan  (+17 per cent, 250), while Greater China (People’s Republic of China, Hong Kong and Taiwan) is very much a two-sided coin.  Deliveries to end clients are on the up but deliveries to the network are falling: in fact, the latter have been reduced by 139 to 427 cars. This decision was influenced by two factors: the need to main the brand’s exclusivity on traditional markets, such as Hong Kong, and to take a more cautious position on the People’s Republic of China where rises in taxes on luxury goods may be in the offing.

“I am very satisfied with the results for the first nine months of 2013,” declared Luca di Montezemolo. “They are the fruit of our constant focus on exclusivity, which guarantees significant returns for our shareholders as well as growing numbers of services for clients. The revenues from personalisation programmes and Ferrari Classiche’s activities ably demonstrate this fact and the latter will receive an additional boost when a dedicated centre for collectors opens in the US. We have also maintained our high level of investment in product development and employment: in fact, this year we have already taken on 200 new staff.”

Brand

The Board of Directors also sanctioned an important decision with regard to our Brand-related activities (licensing, franchising retail, e-commerce) which, because of their specific nature, require a different management approach to car manufacturing. As a result, a New Co, 100 per cent controlled by Ferrari, will be set up to deal with all of these activities and guarantee improved, more dedicated operations management.

In the meantime, our Brand activities as a whole continue to deliver positive results. Retail revenues have increased by 17 per cent while licencing is up 3 per cent, thanks to important new partnerships with Electronic Arts and Codemasters, who now flank the well-established licence-holder Microsoft, strengthening the company’s presence in the Electronics & Multimedia sector

Lastly, e-commerce revenues rose by 18 per cent as the Prancing Horse continues to expand its presence on social networks with almost 13 million “likes” for Ferrari’s official pages.