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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).

Ford unveils inflatable seatbelts

Ford has unveiled inflatable seatbelts which will be fitted to 2010 cars Airbags started out in the middle of the steering wheel of an S Class Mercedes. Now they’re everywhere and they’re no longer a novelty. We just take them for granted.

How Porsche will be integrated into VW

By Georg Kacher Motor Industry 20 November 2009 12:32 Although Porsche won't be a fully integrated member of the Volkswagen group before mid-2011, the sports car maker can even at this early point in the merger no longer make independent strategic decisions. After all, Martin Winterkorn has effectively been appointed head of the Porsche SE Holding which in turn employs the Porsche AG chairman Michael Macht.  With a takeover as costly and complicated to fund as this one – all in all, VW will have to fork out a staggering €16 billion to absorb the latest family member – it is only logical that the new owner wants to get the restructuring process going asap. Overnight, Porsche has become easily VW's most expensive brand.How VW will integrate PorscheTo protect and eventually enhance its value, the powers in Wolfsburg will leave no stone unturned to rearrange the product portfolio, to streamline R&D, to shake up purchasing and production, and to ensure a variety of synergies which are estimated to range from €500m to €750m per year.