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Ferrari 250 GTO sets new world record with £32 million sale

The Ferrari 250 GTO was already the most expensive car in the world ever sold: now, it has cemented its position as reports emerge of an example selling for a staggering £32 million ($50.3m). That’s an increase of almost 50% on the selling price of the former record-setting 250 GTO, an example built for Sir Stirling Moss and sold in 2012. The latest deal is a private transaction and both the identity of the new owner and the location of the car are being kept secret.

Ford follows Hyundai with payment protection plan

Ford Motor Co., taking a cue from Asian rival Hyundai Motor, is offering to make car payments for buyers who lose their jobs. The program, called the Ford Advantage Plan, will cover payments for up to 12 months. The move is aimed at boosting sales, which have fallen 45.9 percent this year through February at Ford Motor and 39.4 percent industrywide as the U.S.

McLaren unleashes its new round of MP4-12C test prototypes

The finish line is in sight for development of the next McLaren supercar, the MP4-12C. The project has entered the final phase of testing with a new round of prototypes that feature significant advancements from last year. McLaren released film on Tuesday of two versions of the new testers, called the XP8 and the XP10, which it says are in the "beta phase" of development.