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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).

2012 Jaguar XK debuts at New York +video

The gently tweaked 2012 Jaguar XK It’s not as big an overhaul as the 2012 Jaguar XF, but Jaguar has sensibly had a play to freshen up the XK and keep it looking crisp for a while longer, rolling out the 2012 Jaguar XK at the New York Motor Show. Changes to the XK for 2012 are pretty much as we predicted, although not quite as close to the Jaguar XKR-S as we’d thought likely. The main change on the nose is the arrival of the new headlights we saw on the XKR-S with integrated LED running lights.

General Motors reveals two-wheel PUMA electric-vehicle prototype

It’s based on the same driving principles as a skateboard. It looks like a phone booth, or perhaps a baby stroller. But despite the unconventional nature of this vehicle, General Motors says a two-seat, two-wheel ride called PUMA could be a solution to loosen congestion in crowded urban areas.