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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.

GM cancels Opel Vauxhall sale to Magna

By Tim Pollard Motor Industry 03 November 2009 22:59 General Motors tonight surprised the world by pulling its proposed sale of its European division – Opel and Vauxhall – to Magna. In a dramatic U-turn, Detroit said 'an improving business environment for GM over the past few months' had made it reappraise its spin-off plans.The 11th hour switch means that GM will still retain full ownership of Opel and Vauxhall, which will now 'be restructured in earnest'. Canadian parts giant Magna had won the race to buy a controlling stake in GM Europe, as a newly relaunched Detroit sought to shore up its finances.

Nissan 'Art of Mobility' sculpture unveiled by Rigoletti Casa De Diseño Institute [w/video]

The Rigoletti Casa De Diseño Institute of Transportation Design's first full-size vehicle sculpture, sponsored by Nissan Design America, has been unveiled. For the past six months design students from Rigoletti and designers from NDA have collaborated to create the ‘Art of Mobility'. The students' goal was to capture the future of Nissan's brand character through line, form, and iconic shapes so it would be a conceptual representation of Nissan's Latin American future design philosophy.