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.
Rally is a form of motorsport that takes place on public or private roads with modified production or specially built road-legal cars. It is distinguished by running not on a circuit, but instead in a point-to-point format in which participants and their co-drivers drive between set control points (special stages), leaving at regular intervals from one or more start points. Rallies may be won by pure speed within the stages or alternatively by driving to a predetermined ideal journey time within the stages.
In the past, most rally courses were not allowed to be scanned prior to the race, and the co-drivers used only maps supplied by the organization. The exact route of the rally often remained secret until race day. Modern rallies have mostly converted to using organizer-supplied notes or allowing full reconnaissance, as opposed to racing the stages blindly. This change has been brought on in large part due to competitor demand.
This particular era was not to last. On the 1986 Rallye de Portugal, four spectators were killed; then in May, on the Tour de Corse, Henri Toivonen went over the edge of a mountain road and was incinerated in the fireball that followed. FISA immediately changed the rules again: rallying after 1987 would be in Group A cars, closer to the production model. One notably successful car during this period was the Lancia Delta Integrale, dominating world rallying during 1987, 1988, 1989, 1990, 1991 and 1992 – winning six consecutive world rally championships, a feat yet unbeaten.
These events were road races in all but name, but in Italy such races were still allowed, and the Mille Miglia continued until a serious accident in 1957 caused it to be banned. Meanwhile, in 1981, the Tour de France was revived by the Automobile-Club de Nice as a different kind of rally, based primarily on a series of races at circuits and hillclimbs around the country. It was successful for a while and continued until 1986. It spawned similar events in a few other countries, but none survive.
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.