In the 1960s, the competitions manager of BMC, Stuart Turner, hired a series of brave and gifted young Finns, skills honed on their country's highly competitive gravel or snow rallies, and the modern professional driver was born. As special stage rallying spread around the world Scandinavian drivers were challenged by drivers from Italy, Germany, Britain, Spain and elsewhere. Today, a World Champion may be of any nationality.
In the 1920s, numerous variations on the Alpine theme sprang up in Austria, Italy, France, Switzerland and Germany. The most important of these were Austria's Alpenfahrt, which continued into its 44th edition in 1973, Italy's Coppa delle Alpi, and the Coupe Internationale des Alpes (International Alpine Trial), organised jointly by the automobile clubs of Italy, Germany, Austria, Switzerland and, latterly, France. This last event, run from 1928 to 1936, attracted strong international fields vying for an individual Glacier Cup or a team Alpine Cup, including successful Talbot, Riley, MG and Triumph teams from Britain and increasingly strong and well funded works representation from Adolf Hitler's Germany, keen to prove its engineering and sporting prowess with successful marques like Adler, Wanderer and Trumpf.
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. Since 2008, it has been held in South America.
We take rally cars based off front-wheel-drive subcompacts for granted now, but the Mini Cooper was the first of the breed. The humble Mini was originally designed to be an affordable city car, but others saw different possibilities. Race car engineer John Cooper took a 997cc engine out of one of his Formula Junior racers and fitted disc brakes to the Mini to create the Mini Cooper. In hotter Cooper S form, the Mini won the Monte Carlo Rally in 1964, 1965 and 1967, setting the template for so many rally cars to come.
Rising investor confidence also indicates a rally, and it is perhaps more powerful than any economic indicator because when investors believe something is going to happen (a rally, for example), they tend to take action (purchasing shares in order to profit from expected price increases) that actually turn expectations into reality. Although it is an objective concept, investor sentiment shows through in mathematical measurements such as the put/call ratio, the advance/decline line, IPO activity, and the amount of outstanding margin debt.