Painted Mercedes Benz W211 L Type Wing Roof Spoiler 02-08 ▼ on 2040-parts.com

Ferrari 250 GTO hitting Bonhams in August – but how much will it sell for?

Will the Violati Ferrari 250 GTO (pictured) break the $60 million barrier? The last Ferrari 250 GTO Series 1 to hit auction rooms in 2012, fetched a remarkable $35 million, and last year another 250 GTO – chassis #5111 – was sold in a private deal thought to be worth $52 million. And now another Series 1 250 GTO is about to hit the sale room.

Who's Where: Gordon Murray launches own design company

Famed Formula One designer Gordon Murray has launched his own design company, with its first project currently underway. But it's not quite what you might expect from someone who's made a name for himself building such aerodynamic performers like the McLaren F1 and Camparo T1 supercars. Murray's new project is to build an economical small car for the masses: one that would be both cheap to buy and to run.

Volvo, Geely working on shared architecture

Geely and its Volvo ward are working at developing a new compact car architecture that will be shared by both companies. For Volvo, this means a smaller luxury car, possibly a few. The platform will be modular, as is practically required in this day and age, ready to underpin different body styles or—if need be—an entirely new lineup.