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1963 Ferrari 250 GTO sells for $70 million

The Ferrari 250 GTO is well-known as one of the most valuable cars on Earth, and quite rare with just 39 examples built. It's a reputation backed by incredible sale prices, one of the most recent being an auction record of $38 million at Bonhams' Monterey auction in 2014. Not all of them cross the auction block, and one reportedly was sold in a private sale for a stunning $70 million, thought to be the highest price ever paid for a car. The price and the sale was confirmed by Fox News after the news outlet talked to a Ferrari historian. It was reportedly sold to American businessman. The duPont Registry reported on the sale a little earlier, having learned of the sale in a forum, and notes that the buyer may have been David MacNeil, CEO of WeatherTech, the company that makes and sells various floor mats and cargo-area covers. MacNeil is a Ferrari collector and driver and may well show and drive the car in vintage races and rallies. Not only does this price exceed the last auction price, it exceeds the last rumored private sale price. Back in 2013, a 250 GTO reportedly sold for $52 million. That particular car shared some of the racing heritage of this new record setter, including a win in the Tour de France, a race that was commemorated in the name of the Ferrari F12 TdF. Related Video:

BMW hires Ferrari chief engineer Fedeli

There's going to be a little bit more Prancing Horse in some future BMWs because the Bavarian brand is hiring Ferrari chief engineer Roberto Fedeli to join the company in November. Fedeli's new position is still somewhat of a mystery though, and he reportedly might be lending his talents to the high performance M division or possibly even Rolls-Royce. When asked by Automotive News Europe, BMW said that it "currently can't say what his role will be."
Regardless of his new job, Fedeli was a big get for BMW because of his strong résumé. He has been with Ferrari since 1988 and led the engineering for the famous Italian automaker's vehicles since 2007. Fedeli tendered his resignation in September at around the same time that chairman Luca di Montezemolo announced his decision to leave the company. However, Ferrari told ANE that there was no connection between the two events.

Ferrari recalls 458 Italia because its trunk is a dangerous place to stow kids

Ferrari is recalling 3,000 458 Italia and Spider models and, believe it or not, it's not because they may catch fire. Nope, instead, the issue focuses on anyone that's unfortunate enough to become trapped in the Ferrari's perilously small frunk (front-mounted trunk).
Apparently, should someone find themselves trapped in the car's nose, the interior release handle only lets loose one of frunk's latches. That means that while anyone held captive by the V8-powered supercar won't be in danger of suffocating and will still be able to call for help, the cars are still ultimately in violation of federal safety mandates.
According to Uncle Sam, should someone become trapped in a trunk, like a child, they must be able to open the trunk from the inside and escape. That can't happen in the 458.