The term “rally” is used loosely when referring to upward swings in markets. The duration of a rally is what varies from one extreme to another, and is relative depending on the time frame used when analyzing markets. A rally to a day trader may be the first 30 minutes of the trading day in which price swings continue to reach new highs, whereas a portfolio manager for a large retirement fund looking at a much larger picture may perceive the last calendar quarter as a rally, even if the previous year was a bear market.
There are two main forms: stage rallies and road rallies. Since the 1960s, stage rallies have been the professional branch of the sport. They are based on straightforward speed over stretches of road closed to other traffic. These may vary from asphalt mountain passes to rough forest tracks, from ice and snow to desert sand, each chosen to provide an enjoyable challenge for the crew and a test of the car's performance and reliability.
Other manufacturers were not content with modifying their 'bread-and-butter' cars. Renault bankrolled the small volume sports-car maker Alpine to transform their little A110 Berlinette coupé into a world-beating rally car, and hired a skilled team of drivers too; then in 1974 came the Lancia Stratos, the first car designed from scratch to win rallies, and the dominant asphalt rally car of its time. These makers overcame the rules of FISA (as the FIA was called at the time) by building the requisite number of these models for the road.

Initially, most of the major postwar rallies were fairly gentlemanly, but the organisers of the French Alpine and the Liège (which moved its turning point from Rome into Yugoslavia in 1956) straight away set difficult time schedules: the Automobile Club de Marseille et Provence laid on a long tough route over a succession of rugged passes, stated that cars would have to be driven flat out from start to finish, and gave a coveted Coupe des Alpes ("Alpine Cup") to anyone achieving an unpenalised run;[37] while Belgium's Royal Motor Union made clear no car was expected to finish the Liège unpenalised – when one did (1951 winner Johnny Claes in a Jaguar XK120) they tightened the timing to make sure it never happened again.[38] These two events became the ones for "the men" to do. The Monte, because of its glamour, got the media coverage and the biggest entries (and in snowy years was also a genuine challenge); while the Acropolis took advantage of Greece's appalling roads to become a truly tough event.[39] In 1956 came Corsica's Tour de Corse, 24 hours of virtually non-stop flat out driving on some of the narrowest and twistiest mountain roads on the planet – the first major rally to be won by a woman, Belgium's Gilberte Thirion, in a Renault Dauphine.[40][unreliable source?]
The gear changes must be made with a mechanical system, so the paddle shifters were not allowed. However the system was re-allowed in 2015. There was no center differential (earlier it used to be 3 differentials, with a center/3rd differential included), but the new regulation allows only front and rear axle differential (eliminating the center differential to reduce cost)[citation needed], and they must be mechanical, without electronic control or hydraulic or viscous systems (from 2006 to 2010 the center differential and previously all three could be active[7]). Minimum weight is 1200 kg empty and 1350 kg with driver and co-driver (in both cases with only one spare wheel).[8]
Since then, the nature of the events themselves has evolved relatively slowly. The increasing costs, both of organization and of competing, as well as safety concerns, have, over the last twenty years, brought progressively shorter rallies, shorter stages and the elimination of nighttime running, scornfully referred to as "office hours rallying" by older hands. Some of the older international events have gone, replaced by others from a much wider spread of countries around the world, until today rallying is truly a worldwide sport. At the same time, fields have shrunk dramatically, as the amateur in his near-standard car is squeezed out.
Pacenotes are a unique and major tool in modern rallying. Television spectators will occasionally notice the voice of a co-driver in mid-race reading the pacenotes over the car's internal intercom. These pacenotes provide a detailed description of the course and allow the driver to predict conditions ahead and prepare for various course conditions such as turns and jumps.
The term "rally", as a branch of motorsport, probably dates from the first Monte Carlo Rally of January 1911. Until the late 1920s, few if any other events used the term.[1] Rallying itself can be traced back to the 1894 Paris–Rouen Horseless Carriage Competition (Concours des Voitures sans Chevaux), sponsored by a Paris newspaper, Le Petit Journal, which attracted considerable public interest and entries from leading manufacturers. Prizes were awarded to the vehicles by a jury based on the reports of the observers who rode in each car; the official winner was Albert Lemaître driving a 3 hp Peugeot, although the Comte de Dion had finished first but his steam powered vehicle was ineligible for the official competition.[2] This event led directly to a period of city-to-city road races in France and other European countries, which introduced many of the features found in later rallies: individual start times with cars running against the clock rather than head to head; time controls at the entry and exit points of towns along the way; road books and route notes; and driving over long distances on ordinary, mainly gravel, roads, facing hazards such as dust, traffic, pedestrians and farm animals.

But this wasn’t enough. By 1984 rallying was all but deregulated, and Audi Sport introduced the Sport Quattro: a shortened, more powerful version of the original coupe, and regulations insisted that 214 were built for the road. With its wheelbase shortened a meaningful 12.6 inches between the B- and C-pillars, the Sport Quattro was more nimble and the bodywork featured numerous GRP and carbon-Kevlar panels. A massive KKK-K27 turbocharger helped increase power to 302hp on the road, while Stig Blomqvist had access to over 450hp in the rally Group B version.
In 1980, a German car maker, Audi, at that time not noted for their interest in rallying, introduced a rather large and heavy coupé version of their family saloon, installed a turbocharged 2.1 litre five-cylinder engine, and fitted it with four-wheel drive. Thus the Audi Quattro was born. International regulations had prohibited four-wheel drive; but FISA accepted that this was a genuine production car, and changed the rules. The Quattro quickly became the car to beat on snow, ice or gravel; and in 1983 took Hannu Mikkola to the World Rally Championship title. Other manufacturers had no production four-wheel drive car on which to base their response, so FISA was persuaded to change the rules, and open the Championship to cars in Group B. This allowed cars to be much further removed from production models, and so was created a generation of rallying supercars, of which the most radical and impressive were the Peugeot 205 T16, Renault 5 Turbo and the Lancia Delta S4, with flimsy fibreglass bodies roughly the shape of the standard car tacked onto lightweight spaceframe chassis, four-wheel drive, and power outputs reportedly as high as 600 hp (450 kW). Further Group B cars were developed by Ford (the RS200), British Leyland (the Metro 6R4) and many others, but these were less successful.
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