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Ferrari Enzo Sets Online Car Auction Record

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Never before has a car auctioned on the internet sold for this much.

Update: The 2003 Ferrari Enzo sold for $2,640,000 to set a new record for the most expensive car to ever be sold in an online auction. Also impressive, the 1985 Ferrari 288 GTO sold for $2,310,000. However, the 1995 Ferrari F50 failed to sell, but is still available with an asking price of $2,500,000.

Thanks to the COVID-19 shutdowns which have swept across the globe, car auctions have been forced to move to the internet. This has created both opportunities and challenges, especially for auction houses caught flat-footed. Now, it will also most likely lead to a new record for the most expensive car auctioned online, thanks to three highly-desirable Ferraris.

Three Ferraris Poised To Set Online Auction Record

The first of these three cars is a 1985 Ferrari

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Car dealerships are reopening but the pivot to online sales has begun

Car dealerships are among the next establishments to reopen in England from June 1. It’s welcome news to an industry that suffered an enormous drop in sales following the nationwide lockdown that started on March 30. New car registrations in Britain were down 97% in April 2020 compared to April 2019.

Coronavirus hit at an already tough time for the car industry. Competition from disruptors like car sharing companies had seen new UK car registrations drop by 5.8% in January and February 2020, with diesel sales especially hard hit.

One company that’s particularly well placed to meet the challenge ahead of reviving sales is Volkswagen. The dieselgate emissions scandal cast a long shadow over VW, but the German car maker is going to great lengths to reposition itself at the front of the electric vehicle market.

To make this process more smooth, it recently announced that all its dealerships have

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COVID-19 is changing how we buy cars with online sales, home delivery and more transparent pricing

At some point, we’ve all felt like a chump in a car dealership showroom, waiting for the salesperson to emerge from a shrouded back office where they presumably spent the last 20 minutes pushing a hard-nosed manager to chip another $100 off the price of that car you’re haggling over.

After hours at the dealership, it feels like an endless game that you’re destined to lose.

But that exhausting and enigmatic car-buying process at bricks-and-mortar stores will be a relic of the past in the aftermath of the coronavirus pandemic, industry experts predict. Mandated stay-home orders have forced car buyers and dealers to adopt a new ‘bricks and clicks’ model instead.

“I can order my groceries to my door, I can order new running shoes to my door … every part of our life right now is delivered,” said Jessica Stafford, general manager of Autotrader and Kelley Blue Book. “Our

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Mercedes Sees Online Services As Profitable As Selling Cars

The market for AI systems will explode in the next five years.

Mercedes-Benz’ MBUX infotainment system debuted for the first time with the new A-Class back in 2018 and you can already order it in almost every vehicle from the manufacturer – including the recently refreshed E-Class coupe and convertible. The Mercedes-Benz User Experience (MBUX), pronounced em-bee yew-ex, boasts a pretty display and clever interfaces in spades, and the automaker will continue to invest millions in it as it believes it can make money.

According to a recent report, the market for automotive AI systems will rise from about $2 billion today to more than $26.5 billion by 2025. Simply put, if you put big money on this technology now, you’ll be in a better position to monetize it when the sector explodes. And Mercedes knows that and it’s the main reason why it chose to invest in an

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