Flash.(automotive industry news briefs)
AutoWeek, March, 2003
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The taxman cometh A rare 1993 Ferrari F-40 fetched $409,000 at a federal auction in Orlando, Florida, in mid-February, selling to a buyer representing an unidentified group of investors. The car, the last of 19 special Le Mans-edition race cars built with a 760-horsepower engine, was appraised at $650,000.
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The Internal Revenue Service seized the car from a Florida businessman who owes $917,000 in back taxes. What lawsuit? Avanti Motors Corp., pressing ahead with plans to build its Studebaker Extreme Utility Vehicle (XUV) despite General Motors' allegation that the XUV is a ...
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Most Popular Articles in Autos
- Service Slants
- 2007 utility vehicle buyer's guide: Side-By-Sides are popular; here's who ...
- Transmission considerations: beyond the manual gearbox
- Buell Motorcycle engineering, innovation, & dedication: in an industry ...
- 100 + 10: America's oldest automotive magazine celebrates its 110th year ...
- More »