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1957 Ferrari sells for record $12.1 million at auction

A 1957 Ferrari 250 Testa Rossa once again blew away the competition, setting a world record for cars sold at auction when it fetched an eye-popping $12.1 million on Sunday at an event on the grounds of the Ferrari factory in Maranello, Italy. The Testa Rossa was one of just 22 produced from 1957 to 1958, and the Scaglietti design is marked by prominent pontoon fenders. The cars also were successful racers, winning 10 of the 19 international races they entered from 1958 to 1961.

2014 Range Rover Sport dynamic debut at Goodwood Festival of Speed

The new Range Rover Sport (pictured) makes its dynamic debut at Goodwood FoS It feels like the 2014 Range Rover Sport has been with us for quite a while already, but apart from it’s brief sojourn through New York in the hands of James Bond, it’s not really be seen in action in public. At least not in the UK. The new RRS has been seen strutting its on-road prowess at the Pikes Peak hillcimb in the States, but next weekend visitors to the Goodwood Festival of Speed will get to see the new Sport as it tackles the hillclimb to demonstrate that it has not just shiny off-road credentials, but impressive on-road ones too.

Mandelson to announce help for car makers

Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.