Carlyle Hand Tools Cht Su38014 - Socket, 7/16""; Flex Sae on 2040-parts.com

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).

GM reportedly set to sign deal on Thursday to sell Opel

General Motors Co. likely will sign a deal on Thursday to sell a majority stake in Opel to a group led by Magna International Inc., German news agencies reported, citing sources close to the negotiations. GM agreed on September 10 to sell 55 percent of Opel to Canadian supplier Magna and its Russian partner Sberbank, but the deal stumbled amid labor union demands for a veto on factory closures and concern in the UK and Spain that 4.5 billion euros ($6.7 billion) in aid pledged by the German government for restructuring Opel favored the carmaker's German factories.

Ferrari 458 Italia World Première +Video

The Ferrari has its world premiere this week in Maranello Wednesday evening saw gala presentation of the 458 Italia to an invited crowd, and Ferrari had every Ferrari-associated face on display, from Michael Schumacher to Piero Ferrari. It’s the usual glad-handing event, but we do get a few glimpses of the 458 in motion, and it’s a curtain raiser for the proper reveal next week at Frankfurt. I’ll take the nice black one near the end of the video.