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1957 Ferrari 250 Testa Rossa Prototype set to break auction record

The 1957 Ferrari 250 Testa Rossa Prototype will be at Pebble Beach 2011 Yes, much of the world is labouring under an economic cloud, but that doesn’t stop the world’s wealthy car collectors bidding for very special cars such as this 1957 Ferrari 250 Testa Rossa Prototype. This particular 250 TR is something rather special – although they all are, of course – because it is one of the original prototypes for the Testa Rossa and is expected to beat the current world car auction record – around $30M for a 1936 Bugatti Type 57SC Atlantic – when it appears at Pebble Beach next month. Regular readers may remember that Max Girardo and team at R.M.

GM signs deal to sell Hummer to Chinese company

General Motors Co. has inked a deal to sell its premium off-road brand Hummer to a Chinese industrial company. GM said on Friday that it has a definitive agreement with Sichuan Tengzhong Heavy Industrial Machinery Co.

Ford CEO Alan Mulally to deliver keynote address at CES

Ford is continuing to double-down on its Sync technology as a way to separate itself from competitors, and in that theme CEO Alan Mulally will again deliver a keynote address at the Consumer Electronics Show in January in Las Vegas. He's expected to unveil the next round of Ford's Sync features at the show, which is a bellwether event for the technology industry. He also spoke at last year's show, and former GM CEO Rick Wagoner addressed it in 2008 as part of efforts by auto execs to showcase new innovations in their cars.