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Toyota to pay $32.4 million U.S. fine over timing of recalls

Toyota Motor Corp. agreed on Monday to pay two more safety fines for a total of $32.4 million, the maximum allowable under U.S. law, to settle federal investigations of whether the company notified regulators of safety defects in timely fashion.

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).

Forget high beams -- lasers are coming

Audi has kicked off 2014 with the unveiling of an updated version of its Sport quattro concept car -- as first revealed at last year's Frankfurt motor show. Set to underpin the German carmaker's stand at the upcoming Consumer Electronics Show in Las Vegas, the latest incarnation of the bullish-looking two-door coupe showcases distinctively styled matrix LED headlamps with new laser light technology that, Audi officials suggest, will soon begin appearing on regular production models as a high-cost option. Already confirmed for the Audi R18 that will compete at the Le Mans 24-hour race later this year, the new headlamps use matrix LEDs and an aperture mask for low-beam mode.