PININFARINA REVEALS ITS RADICAL ‘LUXURY UTILITY VEHICLE’ COMPLETE WITH GLASS DOME AND 1950S INSPIRATION
By Jim Motavalli
Thu, Aug 17, 2023 12:13pm
3 min
3 min
There are many advantages to unveiling high-end cars this week at Pebble Beach this week, where the average attendee will find the vehicles well within their means. And so it is with the venerable Italian coachbuilder-turned-automaker Pininfarina, founded by Battista “Pinin” Farina in 1930.
The PURA Vision design concept to be shown at Pebble was developed in-house at Pininfarina. Most onlookers would call it an SUV, or at least SUV-adjacent, but Pininfarina calls it a Luxury Utility Vehicle (e-LUV). The first design element to capture the eye is the glass dome that sees the door glass and windshield flowing uninterrupted into the roof. The side glass opens up in gullwing fashion but the doors stay put and open in “suicide” fashion, with the rear doors rear hinged to allow easy access to the back seat.
The PURA Vision looks like no other car, or at least no recent one. It sits high on huge 23-inch wheels, with slab sides and a low and aerodynamic “pillbox” upper body that recalls some chopped 1950s customs. And a 1950s design was an inspiration, the Lancia Florida I and II concepts of 1955 and 1957 respectively. The Florida I sedan also had suicide doors and no vertical roof support structure between the doors, known as a “B” pillar. Another inspiration, the gorgeous Pininfarina-designed 1953 Alfa Romeo 6C 3000 Superflow concept, had a similar glass dome roof and a futuristic look. There are very slim horizontal LED lights at the back that extend into the curved rear hatch. The interior is relatively simple, with controls on a console-mounted tablet.
Dan Connell, the chief brand officer for Pininfarina, describes the car as “beautiful, but in an unexpected form.”
Currently, Pininfarina offers the Batista, a US$2.2 million electric supercar based on the ultra-fast Rimac Nevera, and in the process of developing the PURA Vision, the company “kept the Battista owners and other admirers of the brand close,” Connell says. “We had a private showing for them, and some were skeptical—but their minds were blown by what they saw.”
The company’s second production vehicle, code-named B95, is the first Pininfarina to reflect the PURA Vision design philosophy, Connell says. Details will be revealed during B95’s formal debut at the Quail: A Motorsports on Saturday. It’s sure to be a very exclusive car with a big price tag.
Pininfarina will also have the Battista Edizione Nino Farina on its stand at Pebble. First shown at the Goodwood Festival of Speed in England last July, it’s a special edition of the Battista presented as a tribute to the first Formula One World Champion, Nino Farina, who was Battista Farina’s nephew. Setting it apart are unique paint colors, special gold wheels, and body side graphics. An aluminium door plate celebrates the younger Farina’s racing wins. Only five of the high-end electric cars will be built. It’s the second limited-edition Battista, after the Anniversario model.
Pebble Beach is always a parade of new model reveals. The “House of Maserati” is celebrating the 75th anniversary of the GranTurismo (GT) model. Both the electric Folgore GT and the Trofeo versions, powered by a three-litre twin-turbo Nettuno V6, are to be sold in the U.S. Two one-of-a-kind GTs, the Luce and Prisma, will be on display at the Quail. Also seen will be the MC20-based Maserati MCXtrema, with 730 horsepower and a build of just 62 cars. Lotus will be giving rides in the 2024 Emira sports car, the final gas-powered Lotus with both four-cylinder and V6 power. Prices start at US$77,100. Rolls-Royce will show a one-of-a-kind car created for a customer.
Other cars to be shown at Pebble include: the Acura ZDX electric crossover, a “world-first new model” from Aston Martin, the Bugatti Chiron Super Sport Golden Era, the Hennessey Venom Revolution Roadster (with a 17-pound removable carbon fiber hardtop), the world premiere of the new Mercedes-AMG GT, the second Lamborghini electric concept, and the Infiniti QX Monograph Concept.
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Report by the San Francisco Fed shows small increase in premiums for properties further away from the sites of recent fires
By CHAVA GOURARIE
Wed, Aug 28, 2024 3 min
3 min
Wildfires in California have grown more frequent and more catastrophic in recent years, and that’s beginning to reflect in home values, according to a report by the San Francisco Fed released Monday.
The effect on home values has grown over time, and does not appear to be offset by access to insurance. However, “being farther from past fires is associated with a boost in home value of about 2% for homes of average value,” the report said.
In the decade between 2010 and 2020, wildfires lashed 715,000 acres per year on average in California, 81% more than the 1990s. At the same time, the fires destroyed more than 10 times as many structures, with over 4,000 per year damaged by fire in the 2010s, compared with 355 in the 1990s, according to data from the United States Department of Agriculture cited by the report.
That was due in part to a number of particularly large and destructive fires in 2017 and 2018, such as the Camp and Tubbs fires, as well the number of homes built in areas vulnerable to wildfires, per the USDA account.
The Camp fire in 2018 was the most damaging in California by a wide margin, destroying over 18,000 structures, though it wasn’t even in the top 20 of the state’s largest fires by acreage. The Mendocino Complex fire earlier that same year was the largest ever at the time, in terms of area, but has since been eclipsed by even larger fires in 2020 and 2021.
As the threat of wildfires becomes more prevalent, the downward effect on home values has increased. The study compared how wildfires impacted home values before and after 2017, and found that in the latter period studied—from 2018 and 2021—homes farther from a recent wildfire earned a premium of roughly $15,000 to $20,000 over similar homes, about $10,000 more than prior to 2017.
The effect was especially pronounced in the mountainous areas around Los Angeles and the Sierra Nevada mountains, since they were closer to where wildfires burned, per the report.
The study also checked whether insurance was enough to offset the hit to values, but found its effect negligible. That was true for both public and private insurance options, even though private options provide broader coverage than the state’s FAIR Plan, which acts as an insurer of last resort and provides coverage for the structure only, not its contents or other types of damages covered by typical homeowners insurance.
“While having insurance can help mitigate some of the costs associated with fire episodes, our results suggest that insurance does little to improve the adverse effects on property values,” the report said.
While wildfires affect homes across the spectrum of values, many luxury homes in California tend to be located in areas particularly vulnerable to the threat of fire.
“From my experience, the high-end homes tend to be up in the hills,” said Ari Weintrub, a real estate agent with Sotheby’s in Los Angeles. “It’s up and removed from down below.”
That puts them in exposed, vegetated areas where brush or forest fires are a hazard, he said.
While the effect of wildfire risk on home values is minimal for now, it could grow over time, the report warns. “This pattern may become stronger in years to come if residential construction continues to expand into areas with higher fire risk and if trends in wildfire severity continue.”
