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1957 Ferrari 250 Testa Rossa sells for record $39.8 million

This might not come as a shock, but ultra-rare vintage cars are only going to get more expensive as time rolls on, particularly if there's a prancing horse on the car's nose. For example, in 2011, a Ferrari 250 Testa Rossa sold for $16.39 million. In February 2012, a 1964 250 GTO sold for nearly $32 million. Later that year, a 1962 250 GTO sold for $35 million. It was the most expensive car ever sold, making last year's 275 GTB/4 NART Spider and its $27.5-million auction price seem like a drop in the platinum-lined bucket. Now, there's been another high-dollar Ferrari sale.
An unrestored, 1957 250 Testa Rossa was reportedly sold for over $39 million, making it the most expensive car ever sold in the United Kingdom. Just for perspective, $39 million is about 28 LaFerraris or roughly 128 F12 Berlinettas. It's not the most expensive car ever sold, but it still represents a huge sum of money for a classic car. Part of the reason for chassis number 0704 - the car pictured above is 0714, which sold for a mere $12.2 million in 2009 - being sold for so much is down to its excellent provenance.
It made its race debut at the 1957 24 Hours of Le Mans, although it failed to finish. Phil Hill and Peter Collins racked up wins with this exact car in Buenos Aires and Sebring, according to the folks at Hemmings. Combining race wins by a former Formula One World Champion with an unrestored example of an extremely rare car (one of just 34 250 Testa Rossas ever built) makes its monumental sale price almost seem reasonable.

Ferrari's Charles Leclerc takes third straight pole at Singapore GP

SINGAPORE — Ferrari driver Charles Leclerc claimed a third straight Formula One pole position on Saturday after outpacing championship leader Lewis Hamilton in qualifying for the Singapore Grand Prix. Leclerc clocked a lap of 1 minute, 36.217 seconds at the 5-kilometer (3.1-mile) Marina Bay street circuit, beating Hamilton by 0.191 seconds. Leclerc's teammate Sebastian Vettel was third. "If you look at the lap, it was a good lap, but there were some moments that I lost control," Leclerc said. "We brought some new bits that worked properly, which was good to see. I had a very tough Friday and didn't feel comfortable in the car, but we worked hard and it paid off." Leclerc has won the previous two races. After his first-ever F1 victory in Spa at the Belgian GP, the 21-year-old Leclerc became the first Ferrari driver to win the Italian GP since Fernando Alonso in 2010. Hamilton holds a 63-point lead over Mercedes teammate Valtteri Bottas with seven races remaining. "I don't know where Ferrari picked up their pace, it's not usually one of their circuits," Hamilton said. "But they did a great job, Charles did some great laps. Hopefully we can be in the mix with them tomorrow. I think we can be aggressive." While Hamilton already has eight wins this season, his last came at the Hungarian GP in early August. Pole position in Singapore is crucial as its one of the hardest tracks for overtaking in F1. The driver leading the field has won eight times in the past 11 years. Hamilton has won in Singapore the past two years. Another victory in Sunday's night race would move the Briton a step closer to his third straight championship and sixth overall, one shy of Michael Schumacher's record of seven titles. Vettel, whose contract ends in 2020, is on a 13-month winless streak. His last victory was at the 2018 Belgian Grand Prix. Vettel and Hamilton are the only two drivers on the grid with victories at Singapore — with four wins each. Red Bull's Max Verstappen was fourth, almost four-tenths behind Vettel. Bottas was fifth for Mercedes ahead of Red Bull's Alex Albon. Carlos Sainz Jr. took seventh place for McLaren in front of the Renault of Daniel Ricciardo. Nico Hulkenberg was ninth in the second Renault with McLaren's Lando Norris rounding out the top 10. Motorsports Ferrari Lewis Hamilton Sebastian Vettel singapore grand prix charles leclerc

Ferrari will expand its lineup of GT cars but won't chase volume

PEBBLE BEACH, Calif. — Italian premium sports car maker Ferrari will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche's annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast. Elkann also reiterated that Fiat Chrysler Automobiles, of which he is chairman, remains open to opportunities to combine with other automakers, but is positioned to remain independent. Fiat Chrysler in May proposed a merger with French automaker Renault, but the deal fell apart after the French government intervened and Elkann withdrew the proposed merger. Fiat Chrysler Chief Executive Mike Manley sent the same message to Renault and other would-be partners earlier this month. Elkann visited Pebble Beach during the annual Concours d'Elegance, during which wealthy collectors bring some of the world's rarest vintage automobiles to be admired — and sold — and premium manufacturers showcase exotic new models. Ferrari is best known for flashy, high-performance sports cars. Among fans of vintage Ferraris, more understated GT, or grand touring, cars from the 1960s, some with seating for four people, are among the most popular models on auction blocks and at enthusiast events. GT cars were designed to be comfortable on longer road trips. Elkann hinted Ferrari will unveil a new GT type car in November. Ferrari has said previously that about 40% of its total sales could come from GT cars by 2022, up from 32% now. Ferrari has outlined plans to expand revenue to 5 billion euros ($5.54 billion) by 2022 from 3.4 billion euros in 2017. The company has said it plans to add a model called the Purosangue to compete with a growing stable of sport utility vehicles wearing premium sports car brands, such as the Lamborghini Urus. Rival Porsche AG, a unit of Volkswagen AG, has expanded its sales to more than 250,000 sports cars and sport utility vehicles annually. Elkann said Ferrari is not aiming for Porsche's level of sales. Ferrari Convertible Coupe Crossover SUV Luxury Performance