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Cuba Opens Up Car Sales To The Public For The First Time In Decades And The Prices Are Insane

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HAVANA (AP) — It's not your typical used car lot.

Just steps from the Florida Straits, dozens of vehicles sit covered in grime and baking in the Caribbean sun. An elderly security guard slumps in a sleepy waiting area, and customers are nowhere to be seen.

A price list hanging on the green chain-link fence hints at why: $85,000 for a 6-year-old Peugeot compact; $46,000 for a tiny 2008 Citroen C3 hatchback that would cost less than a third of that in Europe. Elsewhere, a larger, new Peugeot 508 lists for $262,000, five times its price in Britain — and more than a millennium worth of paychecks in Cuba, where wages average about $20 a month.

The euphoria that greeted a January reform that lets Cubans buy vehicles from the government without a special permit for the first time in decades turned to anger when the prices were posted. When authorities announced recently that just 50 cars had rolled off the lots of state-run dealerships in the first half-year, bringing in $1.3 million in sales, it was tempting to call the policy a failure.

But analysts say it seems the measure was designed to work that way.

"At those prices, they obviously didn't want to sell many cars," said Philip Peters, president of the Virginia-based Cuba Research Center. "And they're not."

"The only Cuban consumers who can afford it are probably musicians that have got some terrific royalty earnings on their latest record, or people who cashed out fabulously when they sold their family home, and I can't think of anybody else," Peters said. "It's a very, very small sliver of the public that could think of affording such prices, and, as we see, an even smaller sliver that actually decides to do it."

cubacarSome islanders initially hoped authorities would adjust prices downward when they got a sense of what the market would bear. That happened when cellphones first appeared in Cuba more than a decade ago.

However, a recent tour of several dealerships in Havana found the same 400 percent markups as before. Not a single potential client was in sight. Employees refused to speak to reporters, though one confirmed that prices have not budged.

There are no publicly available statistics on how many vehicles circulate in Cuba, but visitors to Havana marvel at how empty the streets are for a city of about 2 million people.

Jorge Pinon, a Latin America energy expert at the University of Texas, said Cuba's reluctance to sell cars isn't out of fear of insufficient fuel. The country gets tens of thousands of barrels of oil a day on preferential terms from Venezuela.

But Pinon noted that a huge infusion of vehicles would test the creaky transportation infrastructure of Cuba, where potholes can go unfilled for years and traffic lights are scarce.

Peters suggested officials simply don't see it as a priority and would rather spend what little hard currency available on things like food and industrial inputs.

"I think there's only one explanation ... the government does not want to use its foreign exchange reserves to import cars for a retail market," he said. "So therefore the only way that it's worth it to them, to import a car for $20,000 and then sell it retail, is to soak up $50,000 worth of liquidity."

In a separate measure in 2011, Cuba legalized private, person-to-person sales of used cars. But those prices started out high and have now shot even higher since January's reform.

For years, the clearest path to an automobile in Cuba was to get a permit to buy one by completing an overseas mission for the government. A typical returnee might have cobbled together around $5,000, enough to buy a used car or a cheap Russian or Chinese model under the old pricing schedule.

Rodolfo Cid's quest to obtain a car began six years ago when the 55-year-old Construction Ministry engineer agreed to work on a mission in Venezuela. He got a $600 cut of the $3,000 a month that Caracas paid Havana for his services.

When Cid returned after three years, he got the letter authorizing him to buy a car and his name went on a waiting list. His plan was to augment his family's meager income by moonlighting as a taxi driver. Two years passed, and in 2013, he left his job at the ministry.

But late last year, word emerged that all Cubans would be able to buy beginning in January, putting everyone in the same boat. The permit Cid toiled three years for was suddenly worthless.

When the new prices were posted, even the used cars were several times Cid's savings.

"They betrayed the trust that people may have in the institutions, even supporters who did what was asked of them," he said.

"That amount of money is absurd," Cid added. "I can't afford even the smallest one."

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Associated Press writer Peter Orsi contributed to this report.

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Andrea Rodriguez on Twitter: www.twitter.com/ARodriguezAP

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An Early Uber Investor Says The Company Could Be Worth A Lot More Than $17 Billion

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bill gurley benchmark

Bill Gurley, an Uber investor and board member, is convinced that Uber's market opportunity ranges anywhere from $450 billion to $1.3 trillion.

Last month, NYU finance professor Aswath Damodaran's wrote a post saying Uber isn't worth $17 billion. His basic premise was that the global market for taxi and car services would have to be three times his estimate — about $300 billion — in order to justify that valuation.

Gurley, however, says Damodaran's analysis may be off by a factor of 25.

"In choosing to use the historical size of the taxi and limousine market, Damodaran is making an implicit assumption that the future will look quite like the past,"Gurley wrote on his blog. "In other words, the arrival of a product or service like Uber will have zero impact on the overall market size of the car-for-hire transportation market."

Uber's potential market is a lot different from the previous car-for-hire market. That's because there are several things already happening to improve the traditional model that makes Uber's potential market inherently different. 

As Gurley notes, you have to take into account things like shorter pick-up times, larger coverage areas, and ease of payment. All of those factors lead to people using Uber in ways they hadn't with taxis and black cars. 

Meanwhile, Uber is also replacing or at least reducing how many cars people own. That's the real game-changer, Gurley says.

"Damodaran likely never considered this possibility: Could Uber reach a point in terms of price and convenience that it becomes a preferable alternative to owning a car?”

All in all, Gurley estimates Uber has a market opportunity of anywhere between $450 billion and $1.35 trillion per year since Uber's service "significantly expands the core market" and could be considered a "car ownership alternative."

"It is not my aim to specifically convince anyone that Uber is worth any specific valuation," Gurley wrote. "What Professor Damodaran thinks, or what anyone who is not a buyer or seller of stocks thinks, is fairly immaterial. I am also not out to prove him wrong. I am much more interested in the subject of critical reasoning and predictions, and how certain assumptions can lead to gravely different outcomes."

Head on over to Gurley's blog to read his full argument

SEE ALSO: Here Are Five Things Uber Did To Beat Lyft Before It Even Had A Chance To Compete

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14 Smart Car Hacks Every Driver Should Know

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crowded parking lot

For as long as their have been cars on the road, there have been innovative car owners who have thought of some truly ingenious solutions to their car woes.

We came up with 14 awesome car hacks that may make your next car ride a little more pleasant (thanks to Farmers Insurance for the idea).

1. De-ice your locks with hand sanitizer.

Car locks can ice over in the winter. So squirt a little waterless hand sanitizer on your key and insert it in the lock. The same alcohol content that kills germs on dirty hands also melts away the ice in the lock.

2. Remove dents with dry ice.

The extreme cold of dry ice can help pop out dents. Pick some up at your local grocery store. Remember to pick it up with gloves, since dry ice can hurt your skin. Then apply it to the dent repeatedly until it’s gone.

3. Clean your engine with soap and water.

A spotless engine is easier to service. Clean it often with water and a little dishwasher detergent (degreaser works well, too). First, cover all the sensitive areas (electrical parts, battery, air intake, and distributor) with plastic bags, then scrub and rinse the engine with a soft rag. Remember to remove all plastic bags once you’ve cleaned all the necessary surfaces.

4. Fix scratches with nail polish.

Touch-up paint always works best, but if you’re in a pinch, clear nail polish helps to fill in scratches and cover up exposed metal to avoid rust.

5. Unlock your car with a shoelace.

Locking yourself out of your car is always frustrating and a little embarrassing. But don’t let it ruin your day. Tie a loop in a shoelace large enough to wrap around your door lock. Work it into the space between the car and the door, then move it until the loop fits around the door lock. Lasso it, and lift up the lock. This only works for cars with upper lock mechanisms. You can always call a roadside assistance service to help get your door unlocked, too.6. Substitute a scented candle for an air freshener.

Place a scented candle in an unused cup holder on a hot day. As the candle melts, it will slowly release its scent. Be sure to use a candle in a glass container to avoid destroying the cup holder and other parts of your car's interior (via reddit user churninbutter).

7. Improve fuel economy by “hypermiling.”

Like clipping coupons and scoping out deals, there are thrifty ways to save on fuel economy, too. Try giving the car in front of you more space. Then you can coast to a stop instead of slamming on the breaks. You can also turn off your engine whenever you’re stopped for more than a few minutes, and use cruise control to maintain your speed.

8. Remember where you parked with smartphone photos. 

Parking lots and garages can be endless mazes. So take out your smartphone and snap a few pictures of your location and markers around your car, and you’ll find it again in no time.

9. Clean foggy headlights with toothpaste. 

Over time, headlights get oxidized and dirty. But the same stuff that makes your teeth shine can help make your headlights bright again, too. Slather plenty of the toothpaste on your headlights, buff it in with a dry cloth, rinse with water, and wipe clean for clear headlights on the cheap.

10. Use a staple remover on tough key rings.

We have all had to deal with difficult-to-open key rings. One way to get around that is to use a staple remover to prop open the key ring as you slide the key on or off. Be sure not to stab yourself. Jul 11, 2014 13:35

11. Clear your windshield with a razor blade. 

Dead bugs, sap, and other gunk can spot up your windshield. Sticky stuff like that won’t come off with washer fluid, so scraping it off with a razor blade. Be extremely careful not to cut yourself or others in the process.

12. Lighten your keychain to protect your ignition. 

A heavy keychain can weigh your pocketbook down and make your jeans look bulky and awkward. But it can also weigh down your ignition switch, causing premature wear and tear. Keep your keys lean to protect your car's ignition.

13. Clean out the mess in your trunk to increase gas mileage.

Many of us live out of our cars. But you may not know is that all of the "stuff" in you car is costing you money. According to the EPA, every extra 100 pounds of weight can reduce your fuel economy by 2%, or roughly seven cents per gallon ( at $3.70/gallon). Seven cents may not sound like a lot, but it can add up to as much as $73 a year for someone who fills up 20 gallons a week. 

14. Keep kitty litter on hand for icy roads.

If you are ever stuck on an icy road, spread some kitty litter around the drive wheels of your car for added traction. Since most kitty litter is made of a mixture of either bentonite clay or silica, it will give a car's tires something to hold onto. For those in rear-wheel-drive cars, the added weight of a big bag of kitty litter in the trunk will also help improve grip on a slippery road. 

SEE ALSO: 4 Reasons Americans Aren't Buying Volkswagens Anymore

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Someone Broke Apple's Sapphire Glass By Running It Over With A Car

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iphone 6 glass knife

The sapphire screen cover has been getting a lot of press this week. The glass is expected to be on the upcoming iPhone 6.

Some have called it "almost indestructible." Well, almost.

A YouTube video published yesterday claiming to be the "ultimate stress test" finally broke the glass cover  but only by running it over with a car.

The Chinese testers tried to break the cover a number of different ways before running over it.

First they went at it with an X-Acto knife.

Sapphire Glass ScratchBut that didn't work. So they tried to hammer a nail through it.

Sapphire Glass Hammer

Finally, they decided to run it over.

Sapphire Glass Broken Car

And voila, broken sapphire glass. There's no way to know whether or not this video is a fake, but it's received over 111,000 views in the last 24 hours, which says something.

The moral of the story is: Don't run over your iPhone 6 with a car.

Here's the video:

SEE ALSO: ANALYST: Apple's iWatch will go into production this November

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Here's What Happened At Lyft's Second Day In Court

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Lyft, the ridesharing startup that allows people to hail rides from the startup's small community of background-checked drivers, recently said it doesn't believe its platform should have to adhere to the licensing rules set and enforced by New York City's Taxi and Limousine Commission (TLC).

The company has since changed its tune. 

Lyft, which was back in court Monday after it agreed to hold off the launch of its ridesharing service in Brooklyn and Queens last Friday, said it has since affiliated itself with eight base stations and agreed to use only TLC-licensed drivers and cars. Lyft says it has provided an affidavit detailing its plans to comply with the TLC.

But another point of contention revolves around Lyft's screening process. Lyft has previously touted its above-and-beyond process for driver and car screenings, but the city isn't buying it.

Lyft acknowledged that people who screen the cars don’t have special licensing skills, Corporation Counsel Michelle Kelson said in court. Lyft has also claimed its background process is more stringent than the TLC's.

“We think that’s not only incorrect, but arrogant,” Kelson said.

Now that Lyft says it's willing to work with the TLC, the company's screening process should theoretically meet the commission's standards. Lyft said it plans to launch immediately after it gains approval from the TLC. The company is now asking for the court to reject the injunctions and temporary restraining orders. 

The judge ruled that Lyft can continue to operate as it has been in Rochester and Buffalo. But for now, Lyft cannot launch in New York. The court is reconvening on Friday.

"We recognize and respect that Judge Freed wishes for all parties to work together on a path forward in a timely fashion," Lyft spokesperson Erin Simpson said in a statement to Business Insider. "Based on today’s progress, we expect to be operating shortly in New York City and will continue working with the TLC, Attorney General and Department of Financial Services to come to a resolution that supports safe and innovative transportation options for New Yorkers. Today's court proceedings reinforced the strength of Lyft's position around its insurance coverage and operations.

Lyft has completed more than 10 million rides across more than 65 cities, including Buffalo and Rochester. We have agreed to begin operation in New York City with TLC licensed drivers as a first step forward, while vigorously pushing for a peer-to-peer model through the proper channels. We expect and hope that all parties will collaborate together with the goal of creating a framework for this model which Lyft operates in more than 65 cities to come to New York City. This model provides flexibility and economic opportunity to hardworking New Yorkers that include teachers, students, single parents and city workers using Lyft to make ends meet."

SEE ALSO: Here's How Much Money You Can Really Earn As An Uber Driver

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Mercedes' New Super Coupe Combines Power And Beauty

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2015 S65 AMG Coupe (25)Mercedes-Benz unveiled its top-of-the-range 2015 S65 AMG Coupe this week, and it's a stunning combination of luxury and high performance. 

At 621 horsepower, the all-new coupe's twin-turbocharged V12 engine is effortlessly powerful.With 738 lb./ft. of twisting power on tap from the 6.0 litre engine, the S65 will hit 60 mph in a scant 4.0 seconds and a electronically limited top speed of 186 mph.

The car is also loaded with technical goodies like the company's Magic Body Control system, which will allow it to tackle corners with remarkable ease. This piece of technological trickery senses the road ahead and adjusts the suspension of the car to lean into any oncoming corners, much like a downhill skier going through a bend. 2015 Mercedes S65 AMG Coupe (39)High performance is just one part of the S65 package. The car's plush interior blends hi-tech gizmos with elements of old world luxury. The centerpiece of the S-Class interior is a pair of 12.2-inch high-definition TFT displays that take the place of a traditional gauge cluster and serve as an adjustable infotainment readout.

Surrounding the futuristic displays are classic chrome-accented dials and switch gear. The rest of the cabin is bathed in swathes of Nappa leather that also upholster the car's adjustable AMG sport seats. 2015 Mercedes S65 AMG Coupe (32)Aesthetically, the S65 AMG Coupe is stunning. While we gushed at the gorgeous lines of its sibling, the S63 AMG, earlier this year, the S65 offers a more mature and professional aesthetic. The big brother trades in the S63's sports gear for a chrome-accented tailored suit.

Like the S63, the company's signature gaping mesh grill and large three-pointed star emblem feature prominently in the S65's front fascia. From there, character lines pull the eye back towards the a-pillar and eventually to the car's tapered rear end. 

Mercedes has not officially announced prices for the S65 AMG Coupe, though Motor Trends predicts the car will be priced similarly to the $215,500 2014 CL65 AMG it will replace. Mercedes expect the first cars to arrive in dealerships at the end of the year.

SEE ALSO: 4 Reasons Americans Aren't Buying Volkswagens Anymore

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The 12 Best Toys Of Tech's Wealthiest Executives

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mark cuban jet

When you're worth several billion dollars, you're bound to want to spend that wealth on some extravagant toys. 

Wealthy tech executives are no exception to the rule.

From sports franchises to private planes, we've rounded up some of the most interesting toys tech billionaires have splurged on recently. 

Google chairman Eric Schmidt has a $72-million yacht called the "Oasis," which he charters out for $400,000 a week. The yacht has plenty of amenities, including a pool, jet skis, and a gym that can be converted into a disco.



Yahoo CEO Marissa Mayer is known for her taste in high-end designer goods. In 2006, she had some 400 pieces of glass art by Dale Chihuly installed in the ceiling of her penthouse apartment at San Francisco's Four Seasons hotel. Chihuly's work typically sells for an average of $15,000 each, and the delivery reportedly caused significant traffic problems in the city.

Source: Gawker, Business Insider



Though he has a net worth of at least $200 million, Tumblr founder David Karp isn't a showy person. He does have a Vespa that he likes to ride to work each morning.

Source: New York Magazine

 



See the rest of the story at Business Insider

9 Easy Ways To Save Money On Gas This Summer

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Chevron Gas Station Los Angeles

High gas prices are a nearly universal gripe. And pain at the pump is even worse this time of year due to the decreased efficiency and increased cost of "summer blend" gasoline that environmental regulations mandate from April to September. 

With the summer travel season in full swing, the national average for a gallon of regular has climbed past $3.60 and a gallon of premium is hovering close to the $4.00 mark, according to the AAA. But there are some gas-saving strategies that could bring much-needed relief at the pump (via the Environmental Protection Agency).

9. Drive slower. The amount of energy it takes to propel a car grows exponentially as speed increases linearly. For example,  a 1000 horsepower Bugatti Veyron needs only about 250 hp to reach 150 miles per hour, but an additional 750 hp to get from 150 to 250 mph.

In practical terms, fuel economy decreases significantly anytime a car is traveling faster that 50 mph, to the tune of 7% for every five miles per hour. This equates to savings of roughly $0.26 for every five miles per hours you slow down over 50mph. 

8. Use the recommended grade of motor oil. Drivers can improve fuel economy by 1-2% just by switching to the manufacturer's recommended grade of motor oil. According to the EPA, using 10W-30 in an engine that call for 5W-30 can increase fuel costs by $0.04 to $0.07/gallon. Using the correct type of motor oil can also preserve the performance and extend the shelf life of your engine. 

7. Don't strap cargo to the roof. Aerodynamic drag can put a huge dent in a car's fuel economy. Strapping luggage or a cargo box to the roof is the aerodynamic equivalent of mounting a small wall on top of your car. At interstate speeds (65-75 mph), the EPA estimates that removing the cargo box from your roof can increase fuel economy by as much as 25%, or a savings of roughly $0.93 per gallon for a $3.70 gallon of gas. Scion XB roof rack6. Clean out the junk in your car. Having more junk you have in your car means more energy is required to lug it around. In fact, the EPA claims that every 100 pounds of weight shed equates to a 1% to 2% increase in fuel economy. At $3.70 a gallon, that's roughly $0.04  to $0.07 per gallon. This doesn't seem like much, but if you fill up 20 gallons week, that adds up to $73 a year.

5. Turn your engine off when parked. Letting the engine idle as you sit in a parking lot may be convenient, but it also wastes gas. In fact, a car can use anywhere from half a gallon to a gallon of gas for every hour it idles, depending on whether the air conditioner is on.

4. Keep up with your car's maintenance. Keeping your engine tuned and emissions systems in shape can increase fuel economy by an average of 4%. According to the EPA, fixing a major problem like an oxygen sensor (a common problem in older cars) can increase fuel economy by as much as 40%.

3. Keep your tires properly inflated. Properly inflated tires are not only important for safety reasons; they will also save you money. Filling your tires to the proper level of inflation can improve fuel economy by 3.3%, according to the EPA. Manufacturers' suggested guidelines can often be found in the driver's side door jam, the glove compartment, or in the owner's manual.

2. Tone down the road rage. Aggressive driving is drag on fuel economy. According to the EPA, aggressive driving in the form of rapid acceleration and braking can reduce fuel economy by as much as 33% on the highway and 5% around town. At roughly $3.70 a gallon, this is the equivalent of saving $0.19 to $1.22 a gallon. When possible, use cruise control to maintain a steady speed, and overdrive gears to increase engine efficiency.LA traffic1. Use air conditioning on the highway, but roll your windows down around town. Air conditioning is the single greatest contributor to decreased fuel economy during the summer. Since the air conditioning system runs off the engine, it saps power and fuel economy when its turned on.

However, driving with the windows down at high speeds creates considerable aerodynamic drag that nullifies any economy savings from having the A/C off. For an optimum balance of comfort and efficiency, the EPA suggests drivers keep their windows down and A/Cs off while driving around town and vice-versa on the highway.

It should also be noted A/C affects power and fuel economy differently based on the size of the engine, with smaller engines suffering to a greater extent. 

SEE ALSO: 14 Smart Car Hacks Every Driver Should Know

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A Chinese Tesla Owner Is Going To Build A Road Full Of Charging Stations

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elon musk tesla

The question of how to build a comprehensive network of public electric-car charging stations has often puzzled government officials and carmakers alike.

For plug-in adoption to grow, most observers feel there must be plenty of public charging available to boost confidence—whether or not it actually gets used.

Now, one Chinese owner Tesla Model S electric luxury sedan is taking matters into his own hands.

Guangdong-based businessman Zong Yi is undertaking a campaign to build an "electric vehicle charging road" from Beijing to Guangzhou, according to a new report from China's Caixin Online (via MarketWatch).

Zong paid for the installation of 16 charging stations along the 3,750-mile route himself. He used social media to choose locations and query property owners about station installation.

He estimates the total cost was twice that of his Model S, which starts at 734,000 Chinese yuan, or about $121,000 at current exchange rates.

Using Sina Weibo—China's answer to Twitter—and the messaging app WeChat, Zong initially drummed up 500 responses, giving him a large surplus of possible station sites.

This allowed him to prioritize amenities like proximity to four-star hotels and free parking to choose the final 16 station sites, which were posted to an online map of the "China Electric Road."

While the network Zong is building is an important first step, it isn't perfect.

The stations are compatible with non-Tesla electric cars, but their spacing—from 62 to 248 miles apartleaves gaps that are too big for the electric range of most of the rest of today's plug-in cars.

Because they are 240-volt Level 2 stations—not the Supercharger DC fast-charging stations Tesla itself is working to install in China—Model S owners will also be in for a bit of a wait while they recharge.

Times for a full Tesla recharge are likely to average around 8 hours, compared to 20 minutes for charging to 80 percent of capacity using a Supercharger.

Drivers may at least get some free charging out of the deal. Zong himself won't institute a fee, although the owners of the parking spaces where the stations are located may.

The prospect of driving an electric car between two of China's major cities without getting stuck, though, could be priceless.

 

SEE ALSO: Here's The Technology Of The Future That Could Crush Elon Musk's Dreams

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This Cutting-Edge Driving Simulator Helps Prevent Car Crashes Before They Happen

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Mercedes driving simulatorThis video is sponsored by Mercedes-Benz.

Driving simulators are usually associated with video games, but they're also saving lives. Car companies use them to conduct tests in controlled environments, allowing them to build safer cars. And one of the most powerful driving simulators in the motor industry – a 1,700-horsepower production – belongs to Mercedes-Benz.

The German manufacturer has established itself as a pioneer in vehicle safety. From developing the "safety cage" construction with front and rear crumple zones in 1951 to being the first company to standardize the emergency brake assist in 1998, Mercedes has long placed safety at the forefront of its approach to vehicle development. According to a study from iSeeCars, Mercedes boasted the lowest overall recall rate of any car manufacturer between 1985 and 2014.

At the end of 2010, at its headquarters in Stuttgart, Germany, Mercedes rolled out its latest effort in improving vehicle safety: a $34 million driving simulator.

The simulator, a six-legged hexapod anchored to a 12-meter rail (it looks a little like a giant UFO), can fit an entire Mercedes model inside. Weighing over 300 tons, the simulator features a 360-degree projection screen and the ability to mimic extreme driving situations. As the driver accelerates and brakes inside the simulator, the display screen changes to reflect different types of road conditions, including factors such as traffic and pedestrians. Meanwhile, a control center triggers maneuvers, communicates with the driver, and moves the vehicle through its software.

Mercedes' driving simulator allows the company to improve its models long before the hardware prototypes are even available. As a result, safer cars can be developed in a shorter amount of time.

Watch the video above to see the simulator in action and learn more about how it works.

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This Awesome Picture Shows Mercedes Putting Its Newest Engine Through Hell

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Mercedes Benz AMG GT M178 Engine  (2)Mercedes-AMG has finally revealed the engine that will power its much awaited GT Supercar: a brawny, 4.0 Litre 510 horsepower V8.  The engine, known officially as the M178, features a pair of top-mounted turbochargers than enable it to churn out a more-than-respectable 480 lb./ft. of torque. 

As with most engine manufacturers, Mercedes-AMG puts every new powerplant through a grueling set of tests before it ever bolts one under the hood of a production car. The above photo shows the M178's turbos and exhaust system glowing bright red from extreme heat as engineers push its performance boundaries.

Don't try this at home.

SEE ALSO: Here Is A Glimpse Of Mercedes' Mysterious New Supercar

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Dodge Could Be Building The Most Powerful Sedan Ever

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2015 Dodge Charger

For years, a horsepower war has been raging among the makers of sports sedans.

Premium brands like Bentley, Rolls-Royce, and Mercedes-Benz are the usual combatants. But while the current champ may be Mercedes' 621 horsepower S65 AMG, if Road and Track's reports are correct, that car's reign will soon come to an end courtesy of an unlikely brand: Dodge. 

Dodge will stuff its monumentally powerful 6.2 liter 707 hp supercharged Hemi Hellcat V8 into the company's upcoming 2015 Charger sedan, which debuted at this year's North American Auto show in Detroit.

According to R&T, this will make the Hellcat-powered Charger the most powerful sedan ever built. And although the Chrysler Group has not officially announced the vehicle configuration, the company did include a "2015 Dodge Charger 6.2L SC SRT" when it participated in a third-party engine rating test earlier this year with the Society of Automotive Engineers (SAE). While the SAE filing does not explicitly say "Hellcat," the description of the specifications match the monster Hemi. 

2015 dodge challenger SRT Hellcat HemiHellcat fans can now ask which other Chrysler vehicles may get the motor. Disappointingly, one vehicle that will not receive it is Dodge's own Viper supercar. The Viper's sleek, sloping hood doesn't allow for enough room in the engine compartment.

Obviously, there's no word yet on official prices for the Hellcat-powered Charger. However, a similarly equipped 2015 Dodge Challenger will be priced around $60,000 (the 2014 non-Hellcat version of the Charger SRT is listed at $48,000).

In addition to the big S65 AMG, the Hellcat powered-Charger will leave Bentley's 616 hp Flying Spur and Rolls-Royce's 593 hp Ghost V-Specification in its wake. At just a quarter of the cost, the Hellcat Charger is unlikely to match the luxury, refinement and prestige of that high-priced trio. However, if you're in the market for a four-door with a motor that can claim victory in the horsepower wars, get your deposit ready — and practice buckling up.

SEE ALSO: This Awesome Picture Shows Mercedes Putting Its Newest Engine Through Hell

SEE ALSO: Dodge Just Revealed The Most Powerful Muscle Car Ever Produced

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We Spent A Weekend With Infiniti's New Luxury Sedan — Here's How It Stacks Up Against The Competition

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2014 Infiniti Q50S Hybrid

It isn't easy being the most important car in the lineup of a luxury auto brand striving to keep up with the BMWs and Lexuses of the world. But the Infiniti Q50, an ambitious sequel to the highly successful G-Series sedan (now renamed the Q40), is just that. Nissan's luxury brand has to anoint a successor to its popular and well-regarded Q40 model. But Infiniti also wants the Q50 to be the centerpiece of a reboot for the nameplate. 

The now-aging G-series has performed admirably for a brand that has struggled to gain a solid footing in the hyper-competitive luxury-car market. In 2012, the G-Series accounted for a whopping 68% of Infiniti's car (versus SUV and crossover) sales. Even in 2013, when the first Q50s hit the market, the G-Series accounted for 48% of Infiniti's car sales. 

The challenge is stark: For the Q50 to be successful, it has to sway buyers from industry heavy hitters, such as the BMW 3-Series, the Mercedes-Benz C-Class, and the Lexus IS. 

Fortunately, Infiniti has stuffed the Q50 with every ingredient it needs to succeed. State-of-the-art powertrain? Check. Bucketloads of the latest car tech? Check. Supermodel looks? Check. 

To get an idea of how these elements come together, Business Insider spent a week driving a fully loaded Q50 S Hybrid All-Wheel-Drive (AWD), in fetching Venetian Ruby, around the streets of Manhattan and Northern New Jersey. 

Here is our takeaway.

Behind The Wheel 

2015 Infiniti Q50S .JPGThe first time you get behind the wheel of a Q50 your senses are inundated with bright LCDs, the smell of fine leather, and the growl of its engine. From its striking good looks to its gobs of high-tech goodies, the Q50 communicates in hyperbole. The Q50 Hybrid's engine is no different. Propulsion comes from the marriage of the 3.5-liter VQ series V6 engine and a hybrid electric drive system. Together, they produce a hefty 360 horsepower and all the torque you're ever going to need.

And make no mistake, the hybrid system wasn't developed exclusively so that the Q50 could be environmentally friendly; it also helps the car go faster. Speed comes with price. Although Infiniti claims the Q50 Hybrid delivers 27 mpg in the city and 31 on the highway, Business Insider recorded a combined fuel economy of just under 25 mpg.

Our test car was crammed with more technology than the latest $250,000 Bentley that I drove, not that tech probably makes all that much difference to most Bentley buyers. The lineup is dizzying: cameras on all four corners of the car, a system that keeps the car in the middle of the lane, another one that accelerates and brakes based on the car in front, and a gizmo that predicts whether the vehicle two cars in front of you will slam on the brakes. 

Our Q50 came equipped with Infiniti's revolutionary direct adaptive steering (DAS) system. When the car is moving under engine power, there is no physical connection between the steering wheel and the front wheels. Instead, when you steer, your actions are piped through an onboard computer to the wheels. It's like the control systems on most modern jets. Many automotive journalists, for whom a direct mechanical link between steering wheel and tire grip is a sacred covenant, have complained about the numb and detached feel of the "steer by wire" system.

But it didn't bother me. While it's not perfect, the DAS provided adequate feel and effectively communicated the lay of the land. Sure, I couldn't sense every crack, pebble, or asphalt nuance. But I didn't really want to.

Infiniti Q50 Direct Adaptive SteeringWith power routed through a 7-speed automatic transmission and Nissan Group's legendary ATTESA all-wheel-drive system, the Q50 Hybrid rockets to 60 mph in a scant 5 seconds. The AWD Q50 grips hard; you're not going to spin the wheels when you floor the throttle.

There are instances, unfortunately, where Infiniti has to adjust how the gasoline powertrain interacts with the hybrid drive system. Under hard acceleration, there is a pronounced delay between the time the Q50's electric motor requests help from the gasoline engine and the time the gas engine can turn on and provide power. This becomes dangerously evident on highway on-ramps, where acceleration on demand is essential. 

Like many of its competitors, the Q50 comes with a pair of paddle shifters mounted behind the steering wheel. Sadly, they don't simulate manual control in the way they're supposed to. While most shiftable automatic transmissions allow the driver a range of gears to choose from, the Q's electronic brain seems to want the driver to shift only into the precise gear that the car demands, defeating the purpose of having a manual-shift option in the first place.

As part of the sports package, Infiniti has given the Q50 S a stiff performance-tuned suspension that makes the sedan incredibly composed at high speed and in corners. However, by stiffening the Q50's shocks and springs, its ability to soak up bumps and potholes has been greatly compromised. I could blame New Jersey's poorly paved roads, but the ride is too rough to make the Q50 a good daily driver.

The Walkaround

The exterior of the Q50 features some of the most striking sheet metal in the marketplace (optional 19-inch wheels up the ante). More than a few passersby commented on our car's eye-pleasing aesthetics. The Q50 is the most successful implementation of the aggressive front grill and headlight design found across the Infiniti lineup. Infiniti balances out the more aggressive elements by using sculptural lines to pull your eyes toward to the softer curves that dominate the rest of the car.

Step Inside

Infiniti Q50S Interior.JPGWhile not as striking as the car's exterior, the Q50's interior is a strong selling point. It's stylish, sensible, and remarkably pleasant. As you climb into the driver's seat, the Q50 gives you an immediate sense of modernity blended with sportiness. The centerpiece of the interior is the Q50's pair of touchscreen LCDs, a rarity even in ultrahigh-priced sedans.

The dual-screen layout allows for an incredible level of flexibility, offering occupants the ability to tweak the car's settings, access infotainment, and adjust climate controls without taxing the navigation interface. The Intel-powered lower screen can be laggy, but its tablet-style setup is clear and easy to use. On the downside, the Q50's voice activation is incapable of understanding standard American English, and the navigation system looks like a dated rehash of the same system that Nissan has been using for the better half of a decade. 

Overall, the cabin is swathed in soft-touch leather panels and accented with real maple wood trim. Hefty control stalks are cut from the finest plastic. Seating is ample up front, but rear legroom is limited, especially for taller occupants. Trunk space for the Hybrid model is also limited, because that's where the lithium-ion battery lives. 

Should You Buy It?

I put the car through its paces on the streets of Weehawken, New Jersey, tracing the course that screaming Formula One cars would take should the proposed Grand Prix of America ever come to fruition. Like the F1 race that's perpetually stuck in limbo, the Q50 has all of the elements required to be great. Sadly, the Q50 hasn't quite revealed its full potential because of some small but irritating faults. Fortunately, annoyances like the throttle timing, paddle shifters, and navigation system can be easily fixed.

How does it compare to its rivals? The Q50S Hybrid doesn't offer the raw driving experience of the BMW 3-series, the brand cache of the Mercedes C-Class, or the refinement of the Lexus. However, it does a great job of aspiring to those qualities. What the Q50 does deliver is a powerful high-tech sports sedan that rocks a level of gizmofication usually seen only in ultrapremium sedans.

At a fully loaded price of $55,000, the Infiniti Q50 S Hybrid is one heck of a good deal. Comparably equipped competing models cost thousands more. While its imperfections keep it from reaching greatness, the Q50 is still a terrific car, offering great bang for the buck. A worthy successor to the G-Series has arrived.

SEE ALSO: Dodge Could Be Building The Most Powerful Sedan Ever

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The Explosive Growth Of China's Luxury Auto Market In 4 Charts

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German automakers Audi, BMW, and Mercedes-Benz maintained their lead as the top performers in China’s luxury car market in the first half of 2014 as Mercedes-Benz continues to try to play catch-up to its two main rivals. Now that the sales results are in for all the major luxury players, Chinese auto news site Gasgoo has compiled a series of charts to show what the market is looking like this year.

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The German top three brands enjoyed a big lead over their runner-ups, which include Jaguar Land Rover, Lexus, Volvo, Cadillac, Porsche, and Infiniti; the elite trio was responsible for nearly 75 percent of all luxury automobiles sold in the country over the six-month time period. Audi led with a 31.7 percent market share, while BMW followed closely with 26.6 percent and competitor Mercedes-Benz lagged behind with 16 percent of the market.

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While German brands had the biggest market share, Infiniti, Cadillac, and Jaguar Land Rover sales increased the most in the first half of 2014. Infiniti saw a stunning 130 percent sales growth rate, while Cadillac’s sales grew by 71.7 percent and Jaguar Land Rover sales rose by 49.5 percent.

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The importance of the China market to luxury car brands’ overall sales increased this year across nearly all brands. For example, China comprised 13.8 percent of Infiniti’s global sales, a jump from 7.8 percent last year—the biggest increase of all luxury car brands in the country. Only Porsche’s China market contribution to global sales remained the same from last year at 22.5 percent.

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A French Luxury Car Brand Is Growing Surprisingly Fast In China

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Citroen DS

In 2013, French automaker Citroen sold 3,500 DS luxury vehicles in China.

That made it practically a rounding error in the Chinese luxury car market. But what a difference a year makes.

According to Chinese news outlet Gasgoo, Citroen DS deliveries have risen to 10,400 in just the first half of 2014 — a substantial increase and a sign that the carmaker's goal of selling 200,000 DS vehicles by 2017 isn't so farfetched.

Citroen — or rather its parent company, PSA Peugeot Citroen — is, like all Western car companies, partnered in joint ventures with Chinese carmakers to build vehicles in the Middle Kingdom. At the moment, the luxury DS brand trails market leaders Audi and BMW by a wide margin. In fact, Citroen DS is dead last.

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But the brand's rapid progress over a relatively short period of time is worth keeping an eye on. Meanwhile, check out this stylish video of DS production in China:

SEE ALSO: Citroen's Bizarre New Car Ad Stars A Silver-Haired Baby Riding A Horse

SEE ALSO: A Famous French Philosopher Perfectly Explained What Cars Mean To Modern Culture

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A 1962 Ferrari 250 GTO Is Being Sold In Europe For An Insane $62.7 Million

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Ferrari seems to have a monopoly on the world's most expensive cars. A 1963 Ferrari 250 GTO took that title last year with a $52 million sticker price. Yet it could be on the verge of being usurped... by another 250 GTO.

A seller in Germany recently placed an ad on the website Mobile for a 1962 250 GTO, with an asking price of 47.6 million euros, or about $62.7 million at current exchange rates. That includes Germany's 19 percent Value Added Tax, but if someone bites it would still make this GTO the most expensive car ever sold.

This particular example is one of the first of the 39 250 GTOs to have left Ferrari's factory. Each of the hand-built cars is a little bit different, perhaps creating a sense of uniqueness that could explain the recent frenzy of multimillion 250 GTO dollar sales.

Before the 1963 250 GTO was sold to its mystery buyer last year for $52 million, another GTO sold for $35 million. It took the title from yet another GTO, which sold for $28.7 million in 2008.

This trend doesn't look like it will run its course anytime soon. The 19th 250 GTO—built in September 1962— is set to cross the block at this year's The Quail, A Motorsports Gathering event on August 15.

The 250 GTO isn't the only vintage Ferrari model commanding sky-high prices. A 1954 375-Plus crossed the block at $18.3 million at the Bonhams auction held at the 2014 Goodwood Festival of Speed, and a 1965 275 GTB/C Speciale could sell for at least $34 million at the RM Auctions event in Monterey, California, this August.

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Britain Is Finally Set To Unleash Driverless Cars On Its Public Roads

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British Business Secretary Vince Cable has announced plans for driverless cars to hit the country's roads as early as January of next year. 

"Today's announcement will see driverless cars take to our streets in less than six months, putting us at the forefront of this transformational technology and opening up new opportunities for our economy and society,"Cable told the BBC

As part of the UK government's plan, cities around the country can bid to become one of three hosts for an 18-36 month driverless car trial program. Participating cities will also receive portions of the $17 million allocated for the program, reports Relaxnews

Some have criticized Britain for being behind the curve in the development of driverless cars. Volvo in Sweden, Nissan in Japan, and of course Google in the U.S. have already conducted hundred of thousands of miles of road testing.

Driverless vehicles, in the form of laser-guided ULTra transport pods, are already in service at London's Heathrow Airport. Elsewhere in England, the city of Milton Keynes unveiled plans last year for the installation of 100 autonomous pods by 2017. The pods are expected to drive in specially designated lanes and will include manual controls should the passenger wish to take control. Unlike the Heathrow pods, the Milton Keynes pods will be guided by satellite. 

Because it's so early in the process, it is unclear what form the driverless cars will take, who the manufacturers will be, and which cities will take part. 

To get an idea of what Britain is in for, here is a video that outlines the proposed autonomous pods that are to be installed in Milton Keynes.  

SEE ALSO: This Study Revealed The Staggering Potential Of Self-Driving Cars

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This Armored Mercedes-Benz Limo Can Drive You Through A War Zone In Style

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For those in need of an armored car, a former military vehicle seems like a sound choice. Those tend to be cramped, loud, and low on amenities though. Unless the vehicle in question is a Mercedes-Benz G63 AMG, that is. 

Canadian firm INKAS will turn the G63 AMG into an armored limousine with an interior as luxurious as its exterior is tough and intimidating.

ALSO SEE: Compilation Of Supercars Starting Is A Great Use Of The Internet: Video

inkas mercedes benz g63 amg armored limo_100474148_lThe G63 gets stretched at the B-pillar, making room for an entertainment center. The rear seats sport footrests and can recline flat. Naturally, everything is trimmed in leather and wood.

inkas mercedes benz g63 amg armored limo_100474154_lThe exterior gets a different type of expensive trim. While it looks essentially stock--even retaining the factory side exhaust—the Inkas G63 limo is fully armored, with a reinforced roof, doors, glass, quarter panels, firewall and pillars. INKAS says it will withstand 7.62 mm ammunition, while the floor can withstand a blast from two DM51 grenades detonated simultaneously.

inkas mercedes benz g63 amg armored limo_100474151_lOther notable features include "bullet catchers" designed to deflect projectiles away from the door crevices, protection for the battery, electronic control module, and fuel tank, and reinforced hinges to handle the weight of the armored doors.

The 5.5-liter, twin-turbocharged V-8 gets a slight power bump, from 536 horsepower to 544. Torque remains the same at 560 pound-feet, but the stock 0 to 60 mph time of 5.3 seconds probably isn't possible, given the added weight of the armor.

INKAS will also armor a stock G63 AMG without converting it into a limo. The real question, though, is what it would do if presented with a G63 AMG 6x6.

SEE ALSO: A 1962 Ferrari 250 GTO Is Being Sold In Europe For An Insane $62.7 Million

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Americans Are Driving Ancient Cars, And That's Pushing New Vehicle Sales Higher

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The U.S. auto market has recovered nicely from the dark days of the financial crisis. Barely 10 million new vehicles were sold in 2010, versus 17 million in 2000.

Currently, the carmakers are on pace to nearly match 2000 by the end of this year. Sales data for July is being released by car companies through the day, and it looks like a projected 16.7-16.9 million new cars and trucks could roll off dealer lots by the end of the year.

This rapid bounce-back has enabled the the U.S. to blast right through what industry observers call the "replacement rate" of around 15 million new vehicles sold per year.

So what's turbocharging the market's performance?

Some contrarians, such as Morgan Stanley analyst Adam Jonas, argue that the surge in sales is fueled by low interest rates and by the willingness of lenders to finance car loans for customers with subprime credit.

But there's another critical factor: vehicle age.

The average age of a car or truck on U.S. roads is at an all-time high of 11.4 years, reported the Los Angeles Times' Jerry Hirsch, citing a study by IHS Automotive. By 2019, the average age could climb to nearly 12 years.

Cars are better than they used to be, so that explains some of this trend. But people are also hanging onto their vehicles for much longer than they have historically.

But even though it can be rewarding to drive a bought-and-paid-for set of wheels until...well, the wheels fall off, most Americans don't want to do that. For one thing, an 11-year-old car is a technological dinosaur by comparison with a new vehicle.

Think about it: In 2003, GPS navigation systems were only just beginning to show up in cars and the first iPod had only been around for a few years.

An 11-year-old-car could also be pushing 200,000 miles on the odometer, assuming normal driving patterns. If you've been fastidious about maintenance, you can keep such a relic running. Or you can do as I did recently and finally throw in the towel on your antique: a salvage company took my 1998 Saab 900S off my hands for the princely sum of $300.

After a while, it just doesn't make financial sense to spend hundreds if not thousands to keep a car on the road when you can reset the clock, buy a new car, and drive relatively problem-free for a few years.

With the average age of a car in the U.S. set to remain stable at around 11 years for the immediate future, this factor should continue to support new vehicles sales for a while.

SEE ALSO: MORGAN STANLEY: We're In An Auto Bubble

SEE ALSO: US Auto Sales Are Looking Good, Not Great

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For $74,000, You Can Drive Around LA In These Incredibly Hot Cars

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