On Sunday August 19 under pristinely sunny skies above California’s picturesque Monterey Peninsula, the 1935 Duesenberg SJ Special owned by Harry Yeaggy of Cincinnati, Ohio, took Best of Show honors at the 2007 Pebble Beach Concours d’ Elegance, the annual vintage car show and competition now in its 57th year.
Also known as the “Mormon Meteor,” Yeaggy’s winning car is a supercharged Duesenberg once owned by colorful former Salt Lake City Mayor Ab Jenkins, who not only set speed records with the car but also drove it on the streets of the city.
Finished in bright yellow with large chrome lettering on the engine cover, the flamboyant Mormon Meteor caught the attention of the Pebble Beach Concours judges, who chose the SJ Special over all other automotive class winners of the day.
In 1935 the car made national headlines when it set a speed record, traveling for 24 hours at an average speed of 135.58 mph. It was more recently the focus of the automotive world when it sold at the 2004 Pebble Beach Auction conducted by Gooding & Company for a record $4.45 million.
"I'm trying to catch my breath," said Yeaggy on late Sunday afternoon while he stood atop the winner's ramp that the cars cross so owners can collect their trophies. "I knew I had a great car. I love the styling and the art deco look. . . . It's just elegant from every different direction. . . . In my opinion, this is the most significant American car ever built.”
Each year the Best of Show award goes to the car from the pool of class winners that receives the most votes from a distinguished panel of automotive judges. This year from the 24 different classes the judges also chose the 1930 Minerva AL Van Den Plas Cabriolet owned by Paul Emple of Rancho Sante Fe, Calif., and the 1930 Duesenberg J Murphy Disappearing Top Torpedo Convertible Coupe as finalists.
Fog that typically shrouds the field during the early morning judging portion of the Pebble Beach Concours was conspicuously absent this year, providing a clear, sunny day that showcased the field of outstanding vehicles from competitors in 30 U.S states and 12 countries.
"The Pebble Beach Concours has truly become 'the world's concours,'" said Concours Chairman Sandra Kasky Button. "In addition to enthusiasts, sponsors and media from around the globe, this year we welcomed exotic, historic vehicles from as far away as Hong Kong, Australia, Italy, Switzerland, Argentina and the Netherlands."
Comedian, past Concours participant, former class winner and perennial crowd favorite Jay Leno helped raffle cars, diamond jewelry and Rolex watches. Total proceeds from raffles, auctions, sponsorships and gate receipts helped contribute more than $1 million to charity for the second consecutive year.
Leno himself raised $25,000 during the awards presentation by auctioning VIP tickets to "The Tonight Show," along with a personally guided tour of his garage, which houses an extensive car collection.
Most Elegant Awards
The Best of Show trophy at Pebble Beach is the prize most coveted by heavy-hitters of the car collecting hobby. Second only to Best of Show are the Elegance Awards, presented to the most elegant car in four different categories: Most Elegant Closed Car, Most Elegant Convertible, Most Elegant Open Car and Most Elegant Sports Car.
The 1935 Duesenberg J Gurney Nutting Speedster, owned by the William Lyon Family, Newport Beach, California, was recognized as the most elegant open-top car.
The J.B. and Dorothy Nethercutt Most Elegant Closed Car trophy went to a 1934 Packard 1108 Dietrich Sport Sedan owned by Ray and Janet Scherr of Westlake Village, Calif.
A 1935 Duesenberg J Bohman & Schwartz Convertible Coupe owned by Sam & Emily Mann of Englewood, New Jersey, was named the most elegant convertible.
The Strother MacMinn Most Elegant Sports Car Trophy was bestowed upon a 1959 Aston Martin DBR1 owned by Adrian Beecroft of London, England.
Tuesday, September 25, 2007
Toyota Prius just keeps on going
Four years since its last redesign, there's more competition on the market, but the hybrid car is still a hit.
NEW YORK (CNNMoney.com) -- Nowadays, most car models get a major redesign about every 4 or 5 years. By that time, sales have started to slow as competitors have introduced fancier, better cars in the auto industry's endless cycle of one-upsmanship.
In that respect, the Toyota Prius is entering its golden years and should be ready for retirement soon. Rumors are even circulating about a possible replacement.
But there's something different about the Prius. Even now, the Prius is selling at a pace any car company would call hugely successful. Of all hybrid vehicles sold in America so far this year, more than half were Priuses and, thanks to increased production, Prius sales this year are up 76 percent so far this year.
The Prius is the company's third best-selling car here so far this year. With sales of 124,620 cars, it ranks behind only the Camry (324,000 cars) and Corolla (262,000).
As it ages and the market becomes more competitive, the Prius is losing little of its steam. "That's not been true of any other model that I'm aware of," said Tom Libby, an analyst with Power Information Network.
Its "days to turn" number - a measure of how long a car typically stays on a dealer's lot before being delivered to a customer - is 10. The industry average is in the mid-60s. Among hybrid cars, the closest any other comes is Toyota's own Camry Hybrid with 15 days, according to Edmunds.com.
This very success is why federal tax incentives for Toyota hybrids have been reduced. To give American automakers a fighting chance, Congress wrote a phase-out provision into the tax credit rules. As a given car company sold more hybrid vehicles, tax credits on its vehicles would diminish then, finally, vanish.
Already, Prius tax incentives have been cut to 25 percent of their original $3,150. By the end of this month, there will be no federal tax credits at all for the Prius or any of Toyota's hybrid vehicles.
So far, though, the lack of tax credits hasn't seemed to hurt. Toyota hasn't had to pile on its own incentives to make up for it. Incentive spending per car on the Prius is now $71, according to Edmunds.com. That compares to $685 for the Ford Escape Hybrid and nearly $1,500 for the Nissan Altima Hybrid.
Stand-out looks
Among industry experts, the most often cited reason for the Prius's continued success is, simply, that it looks unlike any other car on the market. The Prius is instantly recognizable, even from a block away, as a hybrid car.
For those who want to make a public statement about their desire to help the environment, that's an important selling point. "Even with our other hybrids, you've got to squint to see the hybrid badge," said Toyota spokesman Wade Hoyt.
But the standard take on the Prius's success - the idea that buyers just want to make a statement - probably oversimplifies its remarkable appeal.
"There was the potential for this to be a flash in the pan, the car of the moment. It's not," said Jack Nerad,Editorial Director for Kelley Blue Book and author of the Complete Idiot's Guide to Hybrid and Alternative Fuel Vehicles.
The Prius is successful, most importantly, because it asks its buyers to sacrifice nothing while making a statement. Prius drivers are not shoehorned into a cramped little car with no room for a family's weekend luggage. And, while it won't be showing up your local drag strip this weekend, the Prius is quick enough to keep up with most ordinary family cars.
Since it was designed from the wheels up as a hybrid vehicle, sacrifices were minimized. Since its body was designed around a hybrid drivetrain, batteries included, it has all the storage and interior space of a normal midsized car. Other hybrid sedans, like the Altima and Camry, lose storage space to battery packs.
And, don't forget, the Prius gets better fuel economy than any other car on the market. It gets a combined 46 miles per gallon, according to new, and more realistic, EPA testing methods.
The Prius's hybrid-only status helps in other ways, as well. When someone shopping for a Honda Civic Hybrid arrives at the dealership, he's faced with a clear choice. Several non-hybrid Civics are bound to be on the dealership floor right next to the Hybrid version. They will cost less money for what is otherwise the same car, and they will offer fuel economy that, if not quite as good, is still very good.
For the Prius shopper, no such temptation exists. You either buy the Prius or you don't.
And things that normally drive down prices of other cars - increased supply and large numbers already on the road - may paradoxically be helping the Prius.
Increased supplies of the car have reduced once-daunting waiting lists. And the fact that the Prius has been around for a while isn't dulling the car's luster, suggested Lonnie Miller, a spokesman for auto market research firm R.L. Polk. In fact, it's probably adding to it.
"I think, really, what it has going for it is that it has the longest accumulated reputation behind it," he said.
Other than one recall for a software problem, Prius owners haven't experienced big problems with their cars. Battery replacement also has not been a problem, even for cars put into heavy fleet use. Because of their design and how they're used, hybrid car battery performance doesn't decay the way laptop and cell phone battery performance does.
Hybrid technology costs money, of course, so there is a price to be paid for that extra fuel economy when compared to a similar non-hybrid car. So far at least, the Prius's freakishly strong resale value more than makes up for that initial investment. A Prius bought three years ago can still sold for nearly its original price.
Experts at Kelley Blue Book don't see any reason to think those strong resale values will continue for long, though. With production massively ramped up, today's Prius buyers will likely face a softer market for used Priuses when they go to sell.
For now, the Prius is enjoying a greatly extended moment in the sun. While the name means "to go before," it remains to be seen if anything that comes after will do as well.
Source: cnn news
NEW YORK (CNNMoney.com) -- Nowadays, most car models get a major redesign about every 4 or 5 years. By that time, sales have started to slow as competitors have introduced fancier, better cars in the auto industry's endless cycle of one-upsmanship.
In that respect, the Toyota Prius is entering its golden years and should be ready for retirement soon. Rumors are even circulating about a possible replacement.
But there's something different about the Prius. Even now, the Prius is selling at a pace any car company would call hugely successful. Of all hybrid vehicles sold in America so far this year, more than half were Priuses and, thanks to increased production, Prius sales this year are up 76 percent so far this year.
The Prius is the company's third best-selling car here so far this year. With sales of 124,620 cars, it ranks behind only the Camry (324,000 cars) and Corolla (262,000).
As it ages and the market becomes more competitive, the Prius is losing little of its steam. "That's not been true of any other model that I'm aware of," said Tom Libby, an analyst with Power Information Network.
Its "days to turn" number - a measure of how long a car typically stays on a dealer's lot before being delivered to a customer - is 10. The industry average is in the mid-60s. Among hybrid cars, the closest any other comes is Toyota's own Camry Hybrid with 15 days, according to Edmunds.com.
This very success is why federal tax incentives for Toyota hybrids have been reduced. To give American automakers a fighting chance, Congress wrote a phase-out provision into the tax credit rules. As a given car company sold more hybrid vehicles, tax credits on its vehicles would diminish then, finally, vanish.
Already, Prius tax incentives have been cut to 25 percent of their original $3,150. By the end of this month, there will be no federal tax credits at all for the Prius or any of Toyota's hybrid vehicles.
So far, though, the lack of tax credits hasn't seemed to hurt. Toyota hasn't had to pile on its own incentives to make up for it. Incentive spending per car on the Prius is now $71, according to Edmunds.com. That compares to $685 for the Ford Escape Hybrid and nearly $1,500 for the Nissan Altima Hybrid.
Stand-out looks
Among industry experts, the most often cited reason for the Prius's continued success is, simply, that it looks unlike any other car on the market. The Prius is instantly recognizable, even from a block away, as a hybrid car.
For those who want to make a public statement about their desire to help the environment, that's an important selling point. "Even with our other hybrids, you've got to squint to see the hybrid badge," said Toyota spokesman Wade Hoyt.
But the standard take on the Prius's success - the idea that buyers just want to make a statement - probably oversimplifies its remarkable appeal.
"There was the potential for this to be a flash in the pan, the car of the moment. It's not," said Jack Nerad,Editorial Director for Kelley Blue Book and author of the Complete Idiot's Guide to Hybrid and Alternative Fuel Vehicles.
The Prius is successful, most importantly, because it asks its buyers to sacrifice nothing while making a statement. Prius drivers are not shoehorned into a cramped little car with no room for a family's weekend luggage. And, while it won't be showing up your local drag strip this weekend, the Prius is quick enough to keep up with most ordinary family cars.
Since it was designed from the wheels up as a hybrid vehicle, sacrifices were minimized. Since its body was designed around a hybrid drivetrain, batteries included, it has all the storage and interior space of a normal midsized car. Other hybrid sedans, like the Altima and Camry, lose storage space to battery packs.
And, don't forget, the Prius gets better fuel economy than any other car on the market. It gets a combined 46 miles per gallon, according to new, and more realistic, EPA testing methods.
The Prius's hybrid-only status helps in other ways, as well. When someone shopping for a Honda Civic Hybrid arrives at the dealership, he's faced with a clear choice. Several non-hybrid Civics are bound to be on the dealership floor right next to the Hybrid version. They will cost less money for what is otherwise the same car, and they will offer fuel economy that, if not quite as good, is still very good.
For the Prius shopper, no such temptation exists. You either buy the Prius or you don't.
And things that normally drive down prices of other cars - increased supply and large numbers already on the road - may paradoxically be helping the Prius.
Increased supplies of the car have reduced once-daunting waiting lists. And the fact that the Prius has been around for a while isn't dulling the car's luster, suggested Lonnie Miller, a spokesman for auto market research firm R.L. Polk. In fact, it's probably adding to it.
"I think, really, what it has going for it is that it has the longest accumulated reputation behind it," he said.
Other than one recall for a software problem, Prius owners haven't experienced big problems with their cars. Battery replacement also has not been a problem, even for cars put into heavy fleet use. Because of their design and how they're used, hybrid car battery performance doesn't decay the way laptop and cell phone battery performance does.
Hybrid technology costs money, of course, so there is a price to be paid for that extra fuel economy when compared to a similar non-hybrid car. So far at least, the Prius's freakishly strong resale value more than makes up for that initial investment. A Prius bought three years ago can still sold for nearly its original price.
Experts at Kelley Blue Book don't see any reason to think those strong resale values will continue for long, though. With production massively ramped up, today's Prius buyers will likely face a softer market for used Priuses when they go to sell.
For now, the Prius is enjoying a greatly extended moment in the sun. While the name means "to go before," it remains to be seen if anything that comes after will do as well.
Source: cnn news
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