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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).

McLaren launches P1 'Designing by Air' online experience

McLaren has developed a new online experience, 'Designed by Air' to tell the story of the car's design and development. Designed by Air is the first of a two-part series and gives users the chance to hear in detail how the car was created, as the car appears from raw metallic and carbon elements and is crafted by airflow. The P1 is eventually formed inside a wind tunnel, designed to emphasize the car's aerodynamic qualities.

Brabus unveils 850-hp grocery getter

It wouldn't be the Essen Motor Show without German tuning house Brabus introducing its own versions of one or two of Mercedes-Benz cars, with borderline-unbelievable power figures. And this year the Bottrop-based outfit didn't disappoint, rolling out the Brabus 850 6.0 Biturbo based on the 2014 E63 AMG station wagon. For starters, Brabus has increased the V8 engine's displacement from 5,461cc to 5,912cc, installing custom-made forged pistons and a precision balanced billet crankshaft, and replacing the stock turbos with ones of their own design featuring larger compressor units.