After the 1957 season, the Italian motorcycle manufacturers Gilera, Moto Guzzi and Mondial jointly agreed to withdraw from Grand Prix competition due to escalating costs and diminishing sales. Count Agusta originally agreed to withdraw, but then had second thoughts. MV Agusta went on to dominate Grand Prix racing, winning 17 consecutive 500 cc world championships. Count Agusta's competitive nature drove him to hire some of the best riders of the time, including Carlo Ubbiali, John Surtees, Mike Hailwood, Giacomo Agostini, Phil Read, and the best engineers, in particular Arturo Magni. The three- and four-cylinder race bikes were known for their excellent road handling. The fire-engine red racing machines became a hallmark of Grand Prix racing in the 1960s and early 1970s.