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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).

BMW's yearlong Mini E trial exposes infrastructure problems

Early next decade, BMW of North America plans to sell an electric "megacity car" as a subbrand of BMW, similar to the brand's M high-performance cars. But further details are skimpy. BMW already is preparing for that launch.

Volkswagen Concept A

Volkswagen has revealed its latest design study, the Concept A, a crossover between sports car and SUV. Like the conceptually similar Concept T of 2004, the Concept A is based on the Golf platform, marrying coupe-like profile with raised stance. At the front, vertical vents flank the shield-grille, whose matt-silver finish is repeated on the A-posts and door-handles.