The causes of rallies vary. Short-term rallies can result from news stories or events that create a short-term imbalance in supply and demand. Sizeable buying activity in a particular stock or sector by a large fund, or an introduction of a new product by a popular brand, can have a similar effect that results in a short-term rally. For example, almost every time Apple Inc. has launched a new iPhone, its stock has enjoyed a rally over the following months.
In 1979, a young Frenchman, Thierry Sabine, founded an institution when he organised the first "rallye-raid" from Paris to Dakar, in Senegal, the event now called the Dakar Rally. From amateur beginnings it quickly became a massive commercial circus catering for cars, motorcycles and trucks, and spawned other similar events.[60] Since 2008, it has been held in South America.
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.
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.
1968 brought the first of a series of British-organised intercontinental rallies, the Daily Express London-Sydney Marathon, which attracted over 100 crews including a number of works teams and top drivers; it was won by the Hillman Hunter of Andrew Cowan/Brian Coyle/Colin Malkin.[56] Not to be outdone, the rival Daily Mirror sponsored in 1970 the London-Mexico World Cup Rally, linking the stadia of two successive football World Cups, on a route that crossed Europe to Bulgaria and back before shipping out from Lisbon to Rio de Janeiro, after looping around South America, and a run through some of the most frightening sections of Peru's road race, the Caminos del Inca, they wrap it up being shipped to Panama and a final run up Central America. The Ford Escort of Hannu Mikkola and Gunnar Palm won.[57] These were followed in 1974 by the London-Sahara-Munich World Cup Rally,[58] and in 1977 by the Singapore Airlines London-Sydney Rally.[59]
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