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Ferrari 250 GTO hitting Bonhams in August – but how much will it sell for?

Will the Violati Ferrari 250 GTO (pictured) break the $60 million barrier? The last Ferrari 250 GTO Series 1 to hit auction rooms in 2012, fetched a remarkable $35 million, and last year another 250 GTO – chassis #5111 – was sold in a private deal thought to be worth $52 million. And now another Series 1 250 GTO is about to hit the sale room.

Honda works on a successor to the NSX

Honda Motor Co. President Takanobu Ito says his company is developing a sports car that will be the spiritual successor to the discontinued Acura NSX. But in tune with the times, the new car won't feature the brute V10 engine that had been envisioned for the next NSX.

Cash-for-guzzlers funds will run out before Nov. 1, dealer group warns

The cash-for-guzzlers program will run out of its $1 billion funding "well before" its Nov. 1 expiration date, a spokesman for the National Automobile Dealers Association said Thursday, after the government said dealers have already applied for 10 percent of the funds. As of 4 p.m.