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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).

Alfa Romeo reveals new 1.8 litre turbo engine with up to 300bhp

New Alfa Romeo 1.8 litre turbo engine - destined for the Alfa 4C Alfa Romeo are on something of a push to make themselves seem a viable part of the Fiat setup, with a plan to push hard in to America (although that keeps getting delayed) and new product on the horizon. One of those new products is the Alfa 4C which we expected to get a version of the existing Alf 1750 lump with around 250bhp. But it looks like that’s not going to be the case after all.

Concept Car of the Week: MG EX-E

The MG EX-E, developed by Austin Rover and unveiled in 1985, is the subject of our Concept Car of the Week. Dubbed "The concept car that's too exciting to keep secret", it was a production-feasible project that would act as a blank canvas for all future Austin Rover creations. Roy Axe, Design Director of Rover, designed the car around the Metro 6R4 and had an aluminum chassis and plastic body.