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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).

NHTSA probes Grand Cherokee fires

U.S. auto safety regulators are investigating the 2012 Jeep Grand Cherokee SUV after complaints about fires inside the car. In a filing Monday, the National Highway Traffic Safety Administration said it has received three reports of fires in the headliner of the SUV near the passenger-side sun visor.

Supermarkets Announce Fuel Price Cuts

AHEAD of the forthcoming Budget, two major supermarket chains have announced a welcome fuel price cut. The first company to show its hand was Tesco, which has announced a reduction in its petrol and diesel by 1p a litre. Asda then followed, with the supermarket giant taking up to 1p a litre off its petrol and up to 2p a litre off its diesel, pledging motorists would pay no more than 132.7p a litre for diesel and 126.7p a litre for petrol.