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Fangio’s 1954 Mercedes W196R F1 car sells for £19.6 million (video)

Fangio’s 1954 Mercedes W196R F1 (pictured) sells for £19 million The Goodwood Festival of Speed is all about cars and performance, but it’s not just cars on the ground and on the hillclimb. Goodwood is a Mecca for wealthy petrolheads as well as those who can only lust after the finest motoring metal – classic and current – so it’s a sensible place to run an auction for high-end cars. And you can’t get much more ‘high-emd- – at least in terms of value – than Juan Manuel Fangio’s 1954 Mercedes W196R Formula One car which went under the hammer yesterday at Bonham’s Goodwood auction, and reached a world record auction price of £19,601,500 (including premium – £17.5m before).

Who's Where: Peter Schreyer appointed President of Kia Motors

Peter Schreyer has been been appointed President of Kia Motors after holding the position of Chief Design Officer since 2006. Schreyer is the first non-Korean to hold the position within the company and one of the highest-ranking designers in the history of the industry. Schreyer, who is now 59, moved from the VW Group to transform the historically 'dull-but-worthy' Kia product range into one of the strongest and most design-led in the industry through stand-out production cars such as the Picanto and Sportage as well as a diverse range of concepts from Pop to GT.

Watch this McLaren 650S hot-lap Monza

Here's a short video of the McLaren 650S lapping the Monza racetrack in Italy. The 3-minute, 40-second clip features the company's latest supercar doing high-speed pass-bys and revving engines at the gas station. The footage came out of the “Pure McLaren Driving Experience,” an event put together for company VIPs.