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McLaren F1 sells for $8.47 million at Gooding & Co’s Pebble Beach Auction

McLaren F1 chassis #66 (pictured) has sold for $8.47 million There’s been an inexorable rise in the price of classic cars in recent years as rich men realise that certain classic cars not only have huge appeal, but appear to be going only one way in price. Add to that – certainly in the UK – that any profits made on the sale of a classic car you’ve bought for your own enjoyment are tax free, and it’s no shock that values keep rising, and the rarer the car the more they rise. So with only 64 road cars made, the McLaren F1 can be considered a sound investment, with values rising since it first sold in the 1990s for around £640,000 to a new world record auction price set last night of £8.47 million (around £5.42m).

UK has more EV charging points than electric cars

The UK has more charging points than EVs Department for Transport figures say that there are now more charging points in the UK for electric cars than there are EVs. Yes, we have little time for electric cars as anything more than urban runarounds for those with enough spare cash to pay through the nose for inferior technology. And it’s becoming clear that the great British car buying public feel much the same.

Toyota targets conventional engine in defense of green image

In the race to boost fuel economy, overhauling the internal combustion engine is all the rage. Ford, Hyundai and Mazda are among those focusing on direct injection, turbochargers and improved transmissions as they reinvent their powertrain lineups. So with its emphasis on hybrids, Toyota Motor Corp.