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Ferrari 250 GTO sets new world record with £32 million sale

The Ferrari 250 GTO was already the most expensive car in the world ever sold: now, it has cemented its position as reports emerge of an example selling for a staggering £32 million ($50.3m). That’s an increase of almost 50% on the selling price of the former record-setting 250 GTO, an example built for Sir Stirling Moss and sold in 2012. The latest deal is a private transaction and both the identity of the new owner and the location of the car are being kept secret.

Mitsubishi Outlander Plug-in Hybrid EV (PHEV): Details ahead of Paris debut

Mitsubishi has revealed more details on the plug-in hybrid electric Outlander ahead of a debut at the Paris Motor Show. Mitsubishi has been threatening a hybrid version of the Outlander for a few years (we had the  PX-MiEV at the Tokyo Motor Show in 2009 and the PX-MiEV II at last year’s Tokyo Show), but the real production deal – the Mitsubishi Outlander PHEV – arrives at Paris. Now, with a public debut imminent, and full production and deliveries planned for 2013, Mitsubishi has revealed more details of their plug-in hybrid as they try to make their reputation for tough off-roaders and bonkers performance cars a bit more fluffy-bunny.

Detroit convention center to get upgrades for auto show

For now, the Motor City will retain its spot on the calendar of international auto shows, as plans to upgrade the aging convention center where it's held annually will move forward. A $300 million deal to renovate and expand the nearly 50-year-old Cobo Center in Detroit is set to proceed after an Aug. 1 deadline to scuttle the plan passed without opposition from local officials.