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McLaren F1 sells for $8.47 million at Gooding & Co’s Pebble Beach Auction

McLaren F1 chassis #66 (pictured) has sold for $8.47 million There’s been an inexorable rise in the price of classic cars in recent years as rich men realise that certain classic cars not only have huge appeal, but appear to be going only one way in price. Add to that – certainly in the UK – that any profits made on the sale of a classic car you’ve bought for your own enjoyment are tax free, and it’s no shock that values keep rising, and the rarer the car the more they rise. So with only 64 road cars made, the McLaren F1 can be considered a sound investment, with values rising since it first sold in the 1990s for around £640,000 to a new world record auction price set last night of £8.47 million (around £5.42m).

Detroit Motor Show preview

By Tim Pollard Motor Shows 12 January 2008 22:51 The North American International Auto Show, otherwise known as the Detroit Motor Show, kicks off this weekend. CAR Online has decamped Stateside to report live from the show - and we'll be burning the midnight oil to bring you the unveils the minute the covers slide off the latest arrivals, photographs from the Cobo Arena and unparalleled analysis from our team of reporters, including Gavin Green, Phil McNamara and Ben Oliver. Come back to CAR Online over the next 48 hours for all the latest news and reviews, galleries and gossip.

Peugeot 208 R2 (2012): first official pictures

Peugeot has released pictures of its first 208-derived rally car. Peugeot says the 208 R2 has been under development since the standard model was announced in 2011, and promises to reveal two more motorsport-bred 208s by the end of 2012. What will the next two 208 sports cars be?