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Classic Ferrari becomes most expensive car ever sold in UK

This 1957 Ferrari 250 TR – or Testarossa – has just become the most expensive car ever sold in the UK outside of an auction. The exact figure paid is undisclosed, but is said to be in excess of the previous record-holder, a Ferrari 250 GTO that sold for £22.5 million in 2012. Yes folks, if you’ve got the cash, classic Ferraris are where it’s at in the investment world right now.

New concepts to be revealed at Pebble Beach

The international auto show in Frankfurt is but a few weeks away, yet for important new cars in the American market there's further proof that traditional auto shows such as Detroit are being shunned as launch venues in favor of more exclusive and pretigious events. That's because Cadillac, Infiniti, Lexus, Lotus and possibly a few others are set to reveal new production and concept cars at the Pebble Beach Concours d'Elegance later this week. Lexus is set to unveil its production GS350 (previewed by the Lf-Gh concept in New York earlier this year), the fourth generation of its luxury sports sedan, on August 18, while Cadillac's 2013 ATS will also be revealed.

Peugeot confirms BB1 for production

Peugeot has confirmed it will build a production version of the BB1, the concept car that's a cross between a car and a scooter. Coming less than a week after it unveiled the SR1 – a roadster concept car that’s supposed to be a line in the sand for Peugeot design – the announcement came as the 200-year old French car company launched its Marque plan that'a aimed at rejuvenating the brand. The five-year scheme has three goals: to move Peugeot up three places in the world car market; to establish the company as a benchmark for style; and to make it a leader in mobility services.