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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).

Lotus goes light again with go-karts

Group Lotus, not to be confused with Formula One's Team Lotus, is trying its hand at grassroots racing. The Lotus Racing Karts team will unveil its first 2012 model at the annual Autosport International event on Jan. 14, 2012, in Birmingham in the United Kingdom.

Lee Noble announces his new supercar project

The spirit of the original Noble M12 will be revived by the new Fenix Automotive supercar from Lee Noble By Tim Pollard Motor Industry 19 November 2009 01:00 Brit supercar visionary Lee Noble today has announced his new supercar project. His latest venture is called Fenix Automotive Limited – and it'll launch a new sub-£75,000 V8 supercar by this time next year, it was revealed today.The new Fenix-designed sports car will be a lightweight, mid-engined V8 that'll carry on where the original Noble M12 and M400 left off. Although the new supercar hasn't been named yet, Noble promises it'll be an ideal track-day tool capable of ripping to 100mph in less than seven seconds or pootling around on a weekend road trip.Hang on.