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Ralph Lauren: Ferrari 250 GTO, 250 TR, McLaren F1 LM & Bugatti 57 SC models

Ralph Lauren's Ferrari 250 GTO model - just $9500 One of the joys of success in life for a petrolhead is the ability to indulge in your love for cars. And few people have been as successful as designer Ralph Lauren, nor indulged in a car collection quite as stunning. Ralph owns a collection of more that 70 stunning cars, and as a little money-earner – and a treat for car fans – has had four of his cars faithfully recreated as 1/8th scale models.

Toyota to close Australian design studio

Toyota designers at its Technical Center Asia Pacific Australia (TTCAP-AU) are to lose their jobs as part of Toyota's decision to scale back the facility's activities as well as halting all manufacturing within the country by 2017. The TTCAP-AU, which carries out all its Australian design and evaluation operations, employs 150 designers and modelers and it's possible that its activities with the Camry, Camry Hybrid and Aurion models could be scrapped, raising doubts over its future. Around 2,500 employees at Toyota's Altona manufacturing plant are expected to lose their jobs, although the effects are likely to be wider ranging.

First 2015 retail Mustang goes for $300K

Compared to your typical Barrett-Jackson collector car auction price, $300,000 might not seem like too much--a 1967 Corvette went for $3.8 million. But with 100 percent of the proceeds going to the Juvenile Diabetes Research Foundation, $300,000 doesn't sound too shabby. On Saturday, the winning bidder ended up dishing out $300k for the first 2015 retail Ford Mustang GT, about 10 times the actual price.