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LaFerrari commanding £1 MILLION premium – and the McLaren P1 and Porsche 918 Spyder attracting premiums too

LaFerrari commanding £1 MILLION premium Being at the top of the new owners list for a very desirable, and scarce, car can yield big benefits, and none more so recently than for Ferrari’s hypercar – the LaFerrari. Oracle Finance has been busy looking at the premiums being charged for desirable cars (and, presumably, willing to finance to premium too) and have discovered that those not on Ferrari’s VIP list – and therefore not invited to buy a LaFerrari from Maranello – are willing to pay a premium of £1 million to get their hands on Ferrari’s replacement for the Enzo. But it’s not just LaFerrari that’s commanding hefty premiums.

VW Golf R 400 could get more than 400PS – which makes a bit of a nonsense of its name

The VW Golf R 400 (pictured) may not actually be an R 400 The Beijing Motor Show last month saw the debut of the VW Golf R 400, an extreme take on the VW Golf R with a full 400 PS (395bhp) at its disposal. When Volkswagen revealed the R 400 as a concept we did note that it looked more production-ready than concept, and it took VW less than a week to confirm that the Golf R 400 was indeed heading for production. Now, just to muddy the waters a bit (or raise expectations), VW’s R&D chief Heinz-Jakob Neusser has said that when the Golf R 400 does arrive it could well be with more than 400PS.

GM to shut down Saab

General Motors will shut down Saab after the automaker wasn't able to conclude a deal to sell the brand to Spyker Cars, GM said on Friday. “Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time," GM Europe president Nick Reilly said in a statement. "In order to maintain operations, Saab needed a quick resolution.