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Ford GT Sells For a Record $11 million at RM's Monterey Auction

RM Auctions sold a 1968 Ford GT40 Gulf/Mirage coupe Friday night at its Monterey sale for $11 million, setting a record for the highest price paid for an American car at auction. The Friday sales showed once again a very strong market for cars selling at auction, according to statistics gathered by classic car insurance giant Hagerty. In comparing this year's sales to last year, the total number of cars sold in two days of auctions was down slightly while the total amount generated -- $67.5 million – is far greater, as is the average selling price.

Future products: 3 new vehicles on the way for Jaguar, but don't hold your breath

India's Tata Motors, which bought Jaguar from Ford Motor Co. two years ago, recently approved a product plan that gives Jaguar three new models: a small sports car, an entry-level sedan and a station wagon. They will be the first new vehicles to be fully developed under Tata, but they are all several years away.

Caterham creates next car online

By Ben Whitworth Motor Industry 05 November 2008 10:08 Caterham has turned to cyberspace to design its next model – the low-volume carmaker is calling on fans around the world to log onto a bespoke website to submit their ideas and designs for every aspect of the new Caterham, before ultimately voting on what makes it to the final vehicle. The website – www.splitwheel.com - will act as a forum, hosting blogs, articles and what Caterham calls ‘a Wikipedia-style user-edited knowledge base’ to turn user input into a workable vehicle design. A comprehensive voting system that covers all aspects of the car will then be initiated, and once the final specification is agreed a prototype will be produced with initial production slated for 2011.