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Ferrari sold for record £22 million

A RARE FERRARI has been sold at auction for a record price of £22.84 million. One of just 39 models made and regarded as one of the greatest Ferraris, the 1962 Ferrari 250 GTO Berlinetta went under the hammer at Bonhams' auction in Carmel, California. A huge crowd watching the bidding broke into applause at the confirmation of the final price, which outdid the previous record for a car sold at auction.

Lexus LF-A – revealed +video

The Lexus LF-A - a V10 Supercar - has been revealed in Tokyo Until Lexus announced it was bringing a Supercar to Tokyo, that is. After four years of waiting and endless spy shots of the LF-A pounding round the Nurburgring we finally see the official reveal of the Lexus LF-A. A glorious 4.8 litre V10 Supercar with 552bhp, 354lbs/ft of torque, a 9,000 rpm redline, a six-speed sequential ‘box, a 0-60mph time of 3.5 seconds and a top speed of over 200mph.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.