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Fangio’s 1954 Mercedes W196R F1 car sells for £19.6 million (video)

Fangio’s 1954 Mercedes W196R F1 (pictured) sells for £19 million The Goodwood Festival of Speed is all about cars and performance, but it’s not just cars on the ground and on the hillclimb. Goodwood is a Mecca for wealthy petrolheads as well as those who can only lust after the finest motoring metal – classic and current – so it’s a sensible place to run an auction for high-end cars. And you can’t get much more ‘high-emd- – at least in terms of value – than Juan Manuel Fangio’s 1954 Mercedes W196R Formula One car which went under the hammer yesterday at Bonham’s Goodwood auction, and reached a world record auction price of £19,601,500 (including premium – £17.5m before).

Autoweek in review: What you might have missed

It's been a busy week in the automotive world, so let Autoweek get you up to speed with the latest news. Acura released pricing for its new ILX sedan. The base price of $26,795 includes the $895 destination charge.

2015 Ford Mustang to serve as halo car in Europe, other overseas markets

Ford Motor Co. expects that its 2015 Mustang coupe will boost its image in Europe, even though the car will not sell in large numbers. "The Mustang's formidable reputation for performance and its iconic status as a symbol of freedom and optimism precedes it even in those parts of the world where the car has never been sold," Ford of Europe CEO Stephen Odell said today in a statement.