tiresandparts.net19LAMBORGHINI VENENO FETCHES RECORD PRICE OF USD 8.27 MILLIONGENESIS G70 EMERGES AS TOPPER IN JD POWER MULTIMEDIA QUALITY STUDYA very rare Lamborghini Veneno fetched a record price of CHF8.2 million (USD 8.27 million) in a short span of seven minutes at a Bonhams auction that was held in Geneva. The price set a new world record price in terms of the price tag for a Lamborghini, after a fierce bidding war. This broke the previous record of 2.34 million euros (about USD 2.55 million) that a 1972 Lamborghini Miura SV had fetched at an auction in Paris in February 2017.The Lamborghini Veneno was the only roadster of the nine “ultimate” Lamborghinis that were produced in 2014 to mark the golden or 50th anniversary of the Lamborghini brand. It is finished in off-white with a beige interior and has been only driven for only 325 kilometers (about 202 miles).The bidding started off with a bid of CHF3 million and drew six enthusiastic collectors. The estimated price before the auction was a low one of CHF 5.2 million. The Genesis G70 emerged as the topper in the J.D. Power 2019 Multimedia Quality and Satisfaction Study that was conducted in September. The model placed first in the segment for compact premium segment cars and SUVs, thus adding to several other accolades it has earned including earning the first place in J.D. Power’s 2018 and 2019 U.S. Initial Quality Studies (IQS).The study which is conducted every year assesses the level of satisfaction that customers have with the audio, communication, entertainment and navigation (ACEN) systems in the cars that they have purchased. The brands and vehicles with the lowest instance of problems per 100 cars sold (PP100) are recognized as the best models in both the studies. The Veneno is one of the 25 supercars which form The Supercar Collection. The collection was offered for sale without reserve by the State of Geneva. According to reports, the collection was part of the items which were confiscated from Teodorin Nguema Obiang, vice president of Equatorial Guinea, who was indicted on corruption, and other charges.In 2017, he received a three-year suspended jail term for corruption from a French court. In February this year, Swiss prosecutors dropped the charges of financial wrongdoing against him but confiscated his luxury cars.Obiang is the potential successor to his father Teodoro Obiang Nguema Mbasogo, who has ruled Equatorial Guinea for the past 40 years. Another car which was part of the collection and fetched a high price was a 2014 Koenigsegg One:1 which was one of just six produced by the company and realized CHF4.6 million. All the 25 supercars belonging to the collection were sold and fetched a total price of CHF23.4 million. The proceeds from the auction will be used to finance social projects in Equatorial Guinea.When it came to the instance of problems per 100 cars sold (PP100), the G70s researched in the Multimedia Study had the lowest figure of 7.4 PP100, representing 28 percent fewer issues than its closest rival. In the 2019 edition of the Initial Quality Study, Genesis vehicles had a figure of 63 PP100, thus topping both the premium segment and the industry as a whole. This overall 2019 IQS Study result pointed to 32 percent fewer issues than the industry standard and 25 percent fewer issues than the runner-up premium brand.“Our customers constantly tell us how technological innovation is one of their top purchase reasons. We are always striving to bring meaningful technological innovations into our cars. So, receiving this recognition from industry leader J.D. Power reinforces our commitment to deliver the best ownership experience to customers through our focus on incredible audio entertainment and effortless communication and navigation systems,” said Erwin Raphael, COO, Genesis Motor America.The IQS study is now in its fourth decade, and serves as a barometer in the automotive industry for the quality of new vehicles after 90 days of ownership. The 2019 survey was based on responses from purchasers and lessees of new, 2019 model-year vehicles. Through the survey, manufacturers get access to information which can help them to identify any issues and thus drive product improvement.
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