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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).

Ford overhauls plans for the U.S. C-Max to go with fewer seats, all hybrids

Ford has shifted gears on its plans for the C-Max wagon in the United States and will now sell only the five-seat version with hybrid and plug-in hybrid powertrains, beginning in 2012. Ford has canceled plans to sell the seven-seat version of the C-Max with a conventional gasoline engine in the States. Ford will call the car the C-Max hybrid, and C-Max Energi will be the name of the plug-in version.

GM repays Government loans – sort of

GM Loans repaid early - or are they? We can’t deny that GM are making a pretty good job of rising Phoenix-like from the ashes of their effective bankruptcy. A new focus on cars that are relevant for our times instead of a fixation with dated products and dated management has certainly helped.