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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).

Volkswagen to launch new large SUV in USA

Volkswagen has revealed plans to invest $7 billion (£4.2 billion) in North America, with the launch of a new SUV in 2016. The midsize SUV will take Volkswagen towards it goal of selling 1 million cars a year stateside by 2018. On Bing: see pictures of the Volkswagen CrossBlue concept Find out how much a used Volkswagen SUV costs on Auto Trader The seven-seat SUV is based on the CrossBlue concept, seen at the Detroit Motor Show last year.

Rankin: Spirit of Ecstasy collection

Earlier this year, Rolls-Royce announced its collaboration with renowned photographer Rankin in celebration of the Spirit of Ecstasy centenary. Over the course of the collaboration, Rankin has snapped 100 images all inspired by the Spirit of Ecstasy – the defining feature of Rolls-Royce's face. Exploring the femininity of the ‘Flying lady', Rankin worked with a variety of materials, fabrics and paint to create the portraits and other works.