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Big Spenders Flock To Bohnams Festival Of Speed Auction

GOODWOOD’S Festival of Speed might be famous for the action on its famous hill, but there’s more to the self proclaimed ‘world's largest motoring garden’ than just the racing. And just to prove the point, this year the annual Bonhams sale earned a staggering £22.6 million on the Friday of the event. The star attraction was a 1954 Ferrari 375-Plus, as used in iconic road races such as the Mille Miglia, Targa Florio and Carrera Panamericana, which sold for £10.7 million following a fierce battle between bidders.

Supermarkets Announce Fuel Price Cuts

AHEAD of the forthcoming Budget, two major supermarket chains have announced a welcome fuel price cut. The first company to show its hand was Tesco, which has announced a reduction in its petrol and diesel by 1p a litre. Asda then followed, with the supermarket giant taking up to 1p a litre off its petrol and up to 2p a litre off its diesel, pledging motorists would pay no more than 132.7p a litre for diesel and 126.7p a litre for petrol.

Mercury dies off, Lincoln to benefit

Ford's brand portfolio is set to get smaller by the end of the year. Following the sale of Aston Martin, Land Rover, Jaguar and most recently Volvo (to Chinese automaker Geely), the Blue Oval has now announced the demise of its 'middle of the range' Mercury brand, with production of the last vehicles set to cease at the end of 2010. In a statement released to media, Ford announced that the shuttering of the 71-year old Mercury brand was in the interest of focusing on Lincoln, the automaker's only remaining premium brand.