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1994 McLaren F1 LM-Specification fetches $19.8M at Monterey

The botched sale of that World War II-era 1939 Porsche Type 64 may have somewhat overshadowed the RM Sotheby’s auction last weekend at Monterey, but the event wasnÂ’t without its highlights. Exhibit A: The one-of-two 1994 McLaren F1 LM-Specification supercar that we told you about a month ago netted a whopping $19.8 million at the RM SothebyÂ’s auction last weekend in Monterey, and an almost equally rare 1965 Ford GT40 Roadster Prototype also netted seven figures.  The F1 is one of 106 examples ever built and one of just two in LM-Specification (the LM stands for “Le Mans”). McLaren upgraded the standard F1 at the factory post-production, adding a 680-horsepower GTR engine, an extra-high downforce coachwork kit highlighted by the massive rear wing, race-spec dampers, two more radiators and so forth. It also gained a more comfortable interior and creature comforts, with an upgraded air conditioning, radio, new headlights and a different steering wheel. Finally, the exterior was given a coat of silver paint, replacing the factory blue. Four bidders spent four-and-a-half minutes trying to outbid one another for the car, which eventually went to an unidentified American private collector. Also successfully auctioned on Friday: the 1965 Ford GT40 Roadster Prototype for $7.65 million, which fell right in line with expectations of between $7 million and $9 million. It helped pave the way for the Mark IV race cars that won the 24 Hours of Le Mans. As a reminder, it was the first of five GT40 Roadster Prototypes ever built, with seven hardtop versions also built, and it underwent a full restoration in 1983 and a mechanical overhaul in 2003. And it sure is pretty to look at.

Ford to hack $4k off price of Focus EV amid slow sales

Between slow sales and a hefty price drop for its nearest rival, the Ford Focus Electric may be looking at a pretty substantial price cut. The Detroit News is reporting that Ford will drop the price of the all-electric by about $4,000 to $35,200 to be more competitive with the Nissan Leaf, which received a big price cut for 2013 down to $28,800.
Ford has already admitted to having low expectations for the car's sales and massive rebates were reported earlier in the year, but there is still no official word from Ford on this matter. The company's consumer site still lists the 2014 model's starting price as $39,200. In addition to the Leaf, the Focus Electric will also have to deal with the lower prices of smaller EVs including the Honda Fit EV, Fiat 500e and the Chevrolet Spark EV.

Amid Mulally rumors, Bill Ford praises company's deep bench

Bill Ford went on the offensive to combat the rumors that CEO Alan Mulally would leave Dearborn for Steve Ballmer's vacated position leading Microsoft, adding that even if the 68-year-old, former Boeing exec were to depart, the Ford executive team is in a good place.
"I'm happy [Mulally] is going to stick around. But we also feel really good about where we are in terms of succession," Ford told Bloomberg TV, according to Automotive News. Rumors first cropped up about Mulally leaving Ford when AllThingsD speculated that he was in the running, early last month. In that same report, which you can read here, Ford's board of directors reportedly okayed the CEO stepping down ahead of his planned retirement in 2014.
That opened the floodgates, culminating in a report from a few days ago that the rumors over Ballmer's successor just might be true. The story is especially troubling, as Ford hasn't had Mulally under contract, according to AN. "He's here as long as he and I would like it to happen," Ford said, "We're also cognizant of training the next generation and getting them ready to go as well."