Supercars

The McLaren F1 has jumped in value from £540,000 to over £16 million

McLaren F1 chassis no. 63 at Hampton Court during Salon Prive.

Photo courtesy of Salon Prive
When the McLaren F1 launched in 1992, it was priced at £540,000, the equivalent to £965,000 when adjusted to 2020 values. The price wasn't just extraordinary - so was the car.

The F1 wasn't like anything the world have ever seen before. It was a no-compromise model and is now one of the most sought-after cars in the world.

It's story starts in 1988 when then-McLaren designer Gordon Murray was flying back from the 1988 Italian Grand Prix. The flight was delayed so Murray took the opportunity to sketch some ideas for a high-performance three-seater car. He then went on toe persuade Ron Dennis and other McLaren managers at the time to build the most intriguing road car ever conceived.

McLaren F1 Salon Prive McLaren F1 chassis no. 63 at Hampton Court during Salon Prive.Photo courtesy of Sale Prive

The car's body was sculpted by designer Peter Stevens from Murray's sketches. It was shaped to cut through the air but remain stable without needed wings. Only the airbrake would deploy when necessary. Like Murray's later T.50, the car's three-seat arrangement put the driver at center stage.

The F1 has the world's first carbon-fiber tub chassis - something that is quite common among supercars these days. That tub took 3,000 man-hours to make. The car featured a titanium subframe and magnesium alloy wheels, which factored into the idea of making the car as light as possible. Even the toolkit was titanium, as a means of saving weight.

At the model's heart is a 620-brake horsepower 6.1-liter V12 engine that was developed by Paul Rosche and the team at BMW Motorsport. It's top speed was over 230 mph. The heat it put out was so hot, McLaren needed to line the engine bay. What material did they choose? Pure gold, of course.

The engine is paired with a manual gearbox. The steering and brakes are unassisted.

Big brother was always watching. On-board diagnostics transferred data to the factory so every single one of the 64 road cars made could be monitored for performance.

McLaren made a promise. If a customer had a problem with their F1, McLaren would fly out a technician to fix it. Alternately, there were eight official service centres worldwide.

Even priced at £540,000, McLaren didn't profit from the car.

However, for owners, purchasing the F1 became a solid investment, if they were willing to play the long game. According to the Hagerty Price Guide, until 2006 F1s were changing hands for just over the original asking price, but by 2008 prices began to rise and the F1 was valued at £1.5 million.

It's only gone up from there. By 2014 the cost was over £5 million. In 2015, Mr. Bean actor Rowan Atkinson sold his F1 for £8 million, despite crashing it twice and making what was at the time possibly the world's biggest auto insurance claim.

In 2017 chassis no. 44 sold at Bonham's Quail Lodge Auction for $15.6 million (£12.1 million at the time), while the Hagerty Price Guide now values the cars at in excess of £16 million.

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Jeep is adding the 2021 Cherokee Limited Lux to its lineup this year.

Photo courtesy of FCA US LLC
The Cherokee Latitude is the base grade model and the Cherokee Latitude Plus is one step up from that. For 2021, Jeep is offering the Cherokee Latitude Lux. Think of it as Latitude Plus+. It takes many of the desirable features Jeep offers and combines them with a wallet-friendly price tag.

"The new 2021 Cherokee Latitude LUX truly enhances the Jeep lineup and is a direct reflection of what our customers want and value the most in their vehicle – everyday practicality, exceptional comfort, with outstanding ride and handling characteristics," said Jim Morrison, Head of Jeep Brand – FCA North America. "As the most capable midsize sport-utility vehicle, the Jeep Cherokee continues to offer consumers the ultimate blend of all-weather 4x4 capability and even more standard amenities at an incredible value."

2021 Jeep Cherokee Limited Lux The model features a roster of desirable features.Photo courtesy of FCA US LLC

The Latitude Lux sits in the compact SUV's stable between the mid-grade Latitude Plus and Limited trim levels. Latitude is the company's base model and Trailhawk tops out the Cherokee lineup.

It is powered by Jeep's 3.2-liter V6 engine that is paired with a nine-speed automatic transmission. It delivers 29 mpg on the highway and has best-in-class towing capability (4,500 pounds). Buyers can choose to change to a turbocharged 2.0-liter four-cylinder engine.

It features a roster of premium features including Nappa leather seats, power front seats with power lumbar adjuster, heated front seats, premium-wrapped heated steering wheel, remote start, windshield wiper deicer, and the latest Uconnect system with standard Apple CarPlay and Android Auto.

Additionally, the model is eligible to have the Comfort and Convenience Group (security alarm, power liftgate, auto-dimming rearview mirror, air conditioning with dual-zone automatic temperature control, universal garage door opener, 115-volt power outlet, 8.4-in. touchscreen radio, and seven-inch driver information display) added on. The available Sun and Sound Group includes a dual-pane panoramic sunroof and nine-speaker Alpine sound system. Jeep's Trailer Tow Group package is available only on 4x4 models and includes heavy-duty engine cooling, transmission auxiliary oil cooler, Class III hitch receiver, four- and seven-pin trailer-tow wiring harness, and full-size spare tire.

Each Cherokee Latitude Lux comes with a long list of standard safety features including full-speed forward collision warning with active braking, LED lighting, blind-spot monitoring, rear cross-traffic alert, lane departure warning with assist, a rearview camera with grid lines, and rain-sensing wipers.

The new model has a starting MSRP of $30,145 for the 4x2 model and the 4x4 comes in at $31,645. There is an added $1,495 destination fee on each model. The Cherokee Latitude Lux is on sale now.

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If you've got a reservation, you can now order your 2021 Ford Mustang Mach-E.

Photo courtesy of Ford Motor Company

In a memo to dealers, Ford has announced that it is lowering the manufacturer's suggested retail price (MSRP) of its 2021 Ford Mustang Mach-E, the long-awaited all-electric crossover.

According to a post on the Mach-E forum, the price of the Mustang Mach-E will be $1,000 to $3,000 than initially promoted. The memo states that the Mustang Mach-E Premium will be $3,000 lower than initially anticipated with the all-wheel drive version dropping to $50,800 and rear-wheel drive model now coming in at $48,100.

2021 Ford Mustang Mach-E The Ford Mustang Mach-E will begin arriving at dealership lots soon. Photo courtesy of Ford Motor Company

The Mach-E First Edition, a sold-out top-of-the-line model, will get a $1,000 price deduction. That same drop applies to the Mach-E Select, the base model. That base model has a 230-mile range. Higher price point versions of the Mach-E can achieve up to 300 miles of range.

The price of each vehicle includes a $1,100 delivery charge. Customers are eligible to receive a $7,500 federal tax credit with purchase.

Pricing will apply to all models that have been ordered since the Mach-E was unveiled at the 2019 L.A. Auto Show. The first deliveries of the crossover are expected to arrive in customer hands later this year.

How does the new price compare? The freshly-unveiled Volkswagen ID.4 will start at $41,990 including the cost of delivery, making it about $2,000 less than the new price of the Mach-E Select, which comes in at $43,995 for front-wheel drive models and $46,695 for all-wheel drive variants. The ID.4 will get up to 250 miles on a single charge.

The Tesla Model Y comes in at $49,990 but has more range than the Mustang Mach-E at 316 miles on a single charge and comes standard with all-wheel drive.

Ford and Volkswagen vehicles will rely on private charging opportunities. Both companies have recently announced partnerships with Electrify America, which has two cross-country charging routes available and is working to rapidly install charging stations at private enterprises and in public spaces nationwide.

Volkswagen ID.4 buyers get three years of free charging with purchase. Mustang Mach-E owners get 250-kilowatt-hours of free charging when they buy a Mach-E.

Tesla has a fully built-out electric vehicle charging infrastructure that allows for fast charging of the Model Y. With that capability it can relain 158 miles of charge in just 15 minutes while at a Supercharger. There are 17,000 Superchargers worldwide and six new locations open each week according to the Tesla website.

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