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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).

Audi's new model rush revealed

By Georg Kacher Motor Industry 24 November 2006 10:21 Audi has nothing to fear from the appointment of Martin Winterkorn as VW group boss. After all, Winterkorn clinched the job on the strength of his performance at Ingolstadt. And if Audi continues the stunning growth he led, it's on track to become leader of the luxury pack by 2020.

Autoweek in review: Shanghai auto show, Fisker woes and Corvette Stingray pricing

The Shanghai auto show and keeping tabs on Fisker Automotive’s drama kept the Autoweek Web team busy this week. Monday, we focused our coverage on China. Significant reveals included the Icona Vulcano, Ford Escort and Buick Riviera.