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Ferrari 250 GTO sets new world record with £32 million sale

The Ferrari 250 GTO was already the most expensive car in the world ever sold: now, it has cemented its position as reports emerge of an example selling for a staggering £32 million ($50.3m). That’s an increase of almost 50% on the selling price of the former record-setting 250 GTO, an example built for Sir Stirling Moss and sold in 2012. The latest deal is a private transaction and both the identity of the new owner and the location of the car are being kept secret.

Fifth-generation BMW M5 teased in new video

BMW is preparing a fifth generation of the high-performance M5 sedan. We expect to get a turbocharged V8 making about 550 hp and a seven-speed dual-clutch transmission. BMW plans to roll out the new M5 at the Frankfurt motor show in September.

Alfa Romeo MiTo Turismo Sport launched

The Alfa Romeo MiTo Turismo Sport Don’t get barkingly excited, this isn’t a barn-storming MiTo in the mould of the much anticipated – but not yet materialised – MiTo GTA. It is in fact a Limited Edition Alfa MiTo based on the MiTo Turismo with £1,610 worth of extras bolted on and available with a petrol or oil burning engine. The extras over the MiTo Turismo spec – which already includes stuff like AirCon and Alfa’s DNA – include 16″ alloys, Cruise, Spoiler, Blue & Me and multi-function wheel.