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McLaren F1 sells for $8.47 million at Gooding & Co’s Pebble Beach Auction

McLaren F1 chassis #66 (pictured) has sold for $8.47 million There’s been an inexorable rise in the price of classic cars in recent years as rich men realise that certain classic cars not only have huge appeal, but appear to be going only one way in price. Add to that – certainly in the UK – that any profits made on the sale of a classic car you’ve bought for your own enjoyment are tax free, and it’s no shock that values keep rising, and the rarer the car the more they rise. So with only 64 road cars made, the McLaren F1 can be considered a sound investment, with values rising since it first sold in the 1990s for around £640,000 to a new world record auction price set last night of £8.47 million (around £5.42m).

Kia GT could spawn Coupe and Estate

Kia GT could spawn 2 door coupe and estate variants The Kia GT Concept from Frankfurt is heading for production in 2013, and it looks like it could be joined by a Coupe and Estate. It’s not just Hyundai who are starting to push in to the luxury and performance territory currently dominated by the Germans, sister company Kia is getting in on the act too, with cars like the very convincing Kia GT we saw at the Frankfurt Motor Show this year. The Kia GT is a four-door swoopy coupe with RWD and a 3.3 litre turbo V6 kicking out 390bhp, 394lb/ft of torque and looking every bit as convincing as anything that could be considered competition.

VW New Compact Coupe / VW Golf Coupe Hybrid revealed

VW has unveiled the New Compact Coupe at Detroit - a Golf Coupe Hybrid Yes, they’re one and the same, the VW New Compact Coupe and the VW Golf Coupe. The first is the teaser name, but the second is the reality. This is a Coupe version of the VW Golf and will come complete with a proper hybrid system and will sit above the Scirocco in the Volkswagen range.