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The most expensive cars ever: Ferrari 250 GTO sells for $38 million

By Tim Pollard Motoring Issues 15 August 2014 10:19 A 1962 Ferrari 250 GTO Berlinetta sold overnight for a record $38,115,000 (£22,528,626) at the prestigious Bonhams Quail Lodge Auction held during Monterey Car Week. At a stroke, the Ferrari has become the most valuable car in the world, overtaking the 1954 Mercedes W196 R F1 Racer which sold for $30m at an auction at the 2013 Goodwood Festival of Speed. Tellingly, seven of the top 10 most expensive cars ever sold at auction were Ferraris (see our list below).

Sebring swap: Chrysler will call its 2011 sedan the 200

The Chrysler Sebring will get a fresh start late this year as it relaunches with a new name, the 200, and considerable upgrades to the engines, sheetmetal and interior. The 200 gets a new grille with a prominent Chrysler badge, new fascia front and rear, projector headlamps and fog lamps and LED taillights. The new engines to be offered are Chrysler's Pentastar V6 that will make 283 hp and 260 lb-ft of torque, which is slightly detuned from its uses in the Jeep Grand Cherokee and Dodge Charger, and a 2.4-liter four-cylinder from Fiat's global engine bin.

Corvette evangelist, aerobatic pilot Betty Skelton dies at 85

Betty Skelton, former acrobatic airplane pilot, Chevrolet Corvette test driver and daredevil speed racer, died at the age of 85 on Aug. 31. Skelton established a concrete precedent for women's roles in aviation, aerobatic performance and auto racing.