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The most expensive cars ever: Ferrari 250 GTO sells for $38 million

By Tim Pollard Motoring Issues 15 August 2014 10:19 A 1962 Ferrari 250 GTO Berlinetta sold overnight for a record $38,115,000 (£22,528,626) at the prestigious Bonhams Quail Lodge Auction held during Monterey Car Week. At a stroke, the Ferrari has become the most valuable car in the world, overtaking the 1954 Mercedes W196 R F1 Racer which sold for $30m at an auction at the 2013 Goodwood Festival of Speed. Tellingly, seven of the top 10 most expensive cars ever sold at auction were Ferraris (see our list below).

2014 BMW M5 takes on the past

The 2014 BMW M5 sedan hits the streets this August. Bimmer says four-door has been the standard for high-performance sedans since its release in 1985. We'd be inclined to agree.

BMW X7 SUV confirmed to top BMW’s X Range

The BMW X5 Plug-in Hybrid will be built at Spartanburg along with the new BMW X7 The idea for BMW to build an SUV bigger than the X5 was put on ice when the world’s economy went in to meltdown in 2008, but the idea of a range-topping BMW X7 was back on the cards as long ago as 2010. Now, four years on, BMW has confirmed that they are planning an X7, that it will be built at their Spartanburg Plant in South Carolina and that it will arrive in 2017 or 2018. BMW aren’t prepared to divulge what platform the X7 will use, but it looks likely it will arrive on a revised version of the platform used for the next generation BMW 7-Series, a platform that will likely also be utilised for the new Rolls Royce SUV when that arrives, with the announcement of the X7 making a Rolls Royce SUV even more likely.