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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).

Jaguar XE Roadster WILL get 3.0 litre diesel

This Jaguar XE is running a 3.0 litre diesel lump Earlier today we ran an update on the ongoing speculation on Jaguar’s small sports car, confirming that Jaguar will debut the Jaguar XE at Frankfurt in September. And now we can add to that by reporting that it WILL be getting the option of a 3.0 litre diesel lump when it goes on sale in 2012. We’ve speculated for some time that Jaguar will add the very good 3.0 litre TDV6 from the XJ and XF to the range of engines on the XK.

U.S. says 90 percent of clunker claims have been approved

The U.S. Transportation Department says it has paid or approved $2.6 billion in cash-for-clunkers transactions, or 90 percent of the $2.9 billion submitted, as accelerated payments to dealers continue. A total of 534,598 claims for $2.3 billion were paid as of Sept.