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1962 Ferrari 250 GTO hits record $38 million sale at Bonhams' Monterey auction

This weekend's Pebble Beach Concours d'Elegrance brings together some of the rarest and most expensive automobiles in the world onto a tiny peninsula in California jutting out into the Pacific Ocean. But this year, there has been one vehicle on everyone's lips - a 1962 Ferrari 250 GTO. Bonhams put up this incredibly rare Prancing Horse at no reserve for its auction at the Quail Lodge, meaning it could have sold for just a dollar. It didn't though, this ex-Jo Schlesser owned Ferrari sold for a staggering $38.115 million. That makes it the most expensive car ever sold at auction, beating out Bonhams' sale of a Mercedes W196R last year for $29.65 million.
Ferrari only built 39 of these racers, and they have been million-dollar cars for years. One reportedly sold privately for $52 million last year, and one built for Stirling Moss went for $35 million privately in 2012.
While the spectacle of seeing a 250 GTO drive across the auction block with no reserve and then set a record price was certainly amazing, it wasn't the only rare Ferrari up for sale during the evening. Bonhams also handpicked some of the most collectible Ferraris in the world and brought them to the stage. The ten cars included a 1962 250 GT Short-Wheelbase Speciale Aerodinamica that went for $6.875 million, a 1953 250 Mille Miglia Berlinetta driven to racing victory by Phil Hill for $7.26 million and even a 1978 312 T3 Formula One car for $2.31 million. All told, the group of them sold for $65.945 million.

Ferrari names Edwin Fenech head of North American office

Ferrari North America has been sailing without a captain for the past several months since its previous chief executive, Marco Mattiacci, was called home to Italy to run the Scuderia. But now the Italian automaker has announced a new capo to run the office in New Jersey, and his name is Edwin Fenech.
Not to be confused with the French-Italian actress Edwige Fenech (who obviously showed up in our research before the Ferrari exec did), Edwin Fenech has a long history of running regional offices for the Prancing Horse marque. Prior to making the jump to the North American division, Fenech ran the company's operations in the Middle East, Africa, Asia Pacific and China, and previously served as sales and marketing director for France and sales manager for all of Europe.
Now in charge of Ferrari's largest market, Fenech will be responsible for expanding the company's presence not only in the United States - in which Ferrari has been present now for sixty years - but also in Canada as well as Central and South America.

Ferrari looks to cut 20% total C02 emissions over 7 years

In the late 1970s, performance cars suffered a huge blow when the necessity for better economy and lower emissions crippled their power. It took nearly a decade for the horsepower to return. Today, we're in the middle of another push for greater vehicle efficiency, but don't expect another era of malaise this time. Instead, lightweight materials, turbos and hybrids mean that everyone can be happy. However, the pressure to clean up isn't just for the mass market, supercars must improve too, but Ferrari at least seems to be taking on the challenge in stride.
Ferrari Powertrain Director Vittorio Dini recently told Automotive News Europe that the Prancing Horse will improve its current average C02 emissions of 270 grams per kilometer by 20 percent by 2021, to reach about 216 grams of C02 per kilometer. To achieve these lofty ambitions, the company will exploit a relatively simple path. "In the future, all of our V8s will use turbos," said Dini said to ANE. Also, its V12s will use hybridization because it'll be a better choice for them compared to the heat of multiple turbos, he claimed.
The first steps of this strategy are already in front of us. The new California T ditches its naturally aspirated V8 in favor of a smaller displacement, more powerful turbocharged unit, and the LaFerrari is already using the hybrid V12. Dini's quote certainly lends some credence to the rumor that the 2015 refresh for the 458 Italia may use an even more powerful version of the California's turbo V8. With a new Ferrari model planned for each year between now and 2018, the Prancing Horse seems unperturbed by any threats posed by emissions.