In May 2012, Edvard Munch’s eerie expressionist painting “The Scream” sold for a record $120 million. At the time, this historic sale reset the art market and raised eyebrows worldwide. Last week the collector car world may have reached a similar pinnacle with the $70 million private sale of a 1963 Ferrari 250 GTO. This […]
“We’re going to feed the healthy parts of our business, and deal decisively with the parts that destroy value.” —Ford CEO James Hackett “Everything will be on the table. We can make different investments, we can partner, we can exit products, markets — and we will do that.” —Ford CFO Bob Shanks “Virtually eliminating Ford’s […]
“Our own model does not incorporate a capital raise, but our lowered estimates newly show the company with less than $1 billion at the end of the third quarter, which the company has previously defined as its minimum comfort level, suggesting to us an increased—not decreased—likelihood of a capital raise,” —Ryan Brinkmann, JP Morgan analyst […]
Two unrelated events could prove to have a profound impact on Daimler-Benz and the capital city of the German automobile—Stuttgart. Li Khufu, the billionaire owner of China-based Geely automotive, has recently taken a 10% stake in Daimler. The potential impact of such a large Chinese investor in Mercedes-Benz could be significant in the years ahead. The […]
Bloomberg is on the vanguard of accurate and thoughtful reporting on the emerging and powerful trends of self-driving cars. In this recent article, Jess Shankleman succinctly points out why this autonomous automotive revolution is going to happen way faster than the markets (or the public) thinks. The coming transformation will claim victims from airlines to bicycles […]
“It saddens me to say it, but the auto industry is on an accelerating change curve. We are approaching the end of the automotive era. For hundreds of years, the horse was the prime mover of humans and for the past 120 years, it has been the automobile. Now we are approaching the end of […]
2017 has been a blockbuster year of groundbreaking news within the automotive industry. Specifically, new developments in autonomous technologies and electric propulsion have radically changed the automotive landscape. It’s becoming clear that the pace of change is up-shifting far faster than most industry analysts and experts initially modeled. From Intel buying Mobileye to Volvo announcing […]
Mercedes-Benz announced Monday that it will offer electric versions of all its models by 2022—a scant five years from now. This comes on the heels of Volvo’s shocking July announcement that it will only offer hybrid and all-electric models by 2019. Without a doubt, the electric car arms race is heating up faster and with […]
An article written by Turtle Garage is being published in the October issue of Sports Car Market. The subject is the auction result of a 1988 BMW E24 M6 at Bonham’s during the Greenwich Concours in June. The M6 in question was a B/B+ example with 75,000 miles and no documentation. The hammer fell at […]
Turtle Garage will be displaying eight motorcycles at the 35th annual Lime Rock Park Historic Festival on Sunday, September 3rd. The Historic Festival is a four-day event dedicated to vintage racing and collector cars. The show on Sunday takes place on the storied racetrack at Lime Rock Park in Lakeville, Connecticut. “Historic Festival 35 is […]
“We can’t carry on with diesel and petrol cars.” —U.K. Environment Secretary Michael Gove Earlier this week Bloomberg reported that the U.K. will join France by putting an outright ban on the use of fossil fuel cars by 2040. Plug-in electric cars currently make up only one percent of U.K passenger vehicle sales. U.K. regulators […]
Philip Richter is President and co-founder of New-York-City-based Hollow Brook Wealth Management, LLC. The Turtle Garage Blog, he says, is dedicated to his "love of excessive personal transportation."
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