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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).

Lexus takes Gen XY on a 'Dark Ride'

Lexus' small CT 200h hybrid won't go on sale until February, but a short online movie called Dark Ride is already promoting the vehicle and reaching out to younger buyers. Lexus and its ad agency, Skinny, aim to generate excitement among consumers 16 to 44 -- known as Gen XY. That demographic is a far cry from the median age of Lexus' owners -- 57.

Weineck Cobra 780 at RM Auctions in Paris

The phrase “fastest Cobra ever made” has been thrown around too often for our taste over the last…50 or so years. But we're going to say it now, possibly for the last time: How does 1,100 hp sound? Weineck, a Germany-based tuning company, dropped a 12.9-liter -- 780-cubic-inch -- V8 in the famous body, for a run of 15 cars, all of which sold out.