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1964 Ford GT40 prototype sells for $7M

Seven-figure Ferraris are not horribly rare. Heck, an eight-figure Ferrari isn't a rare occurrence. Between modern masterpieces like the Enzo and more classic offerings, cracking the million-dollar mark isn't a particularly tall order for the cars from Maranello. For a Ford, though, it's a big deal.
Now, this is not just some rare Mustang. This is a GT40, the car that Henry Ford II commissioned to whip Enzo Ferrari around a track in France. As far as the Le Mans-winning racers go, they don't get much rarer than this one. Sold at the Mecum Auctions in Houston, this is one of the prototypes, meaning it's one of the very first GT40s ever built. That makes its $7 million winning a bid, a record for on-air coverage of the auction, a pretty darn impressive figure.
You can watch the auction below, but first, take a look back at our original story on this rare Blue Oval.

Volkswagen's latest ad is not subtle | Autoblog Podcast #509

On this week's podcast, Mike Austin and David Gluckman are joined by special guest James Riswick, who has been driving a lot of new cars lately. All of them are discussed, plus a few more from Mike and David, and Mike rants a bit about a new VW Atlas commercial. The episode wraps up with the traditional doling out of Spend My Money buying advice, during which David briefly goes out into left field. (He's back now, don't worry.) The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #509 Topics and stories we mention GMC Sierra HD Mazda MX-5 Miata RF Mazda CX-5 Honda CR-V vs. Mazda CX-5 Mini Countryman Honda Clarity Fuel Cell Ford F-150 Raptor Lexus RC 200t VW Atlas "Luv Bug" commercial Used cars! Rundown Intro - 00:00 What we're driving - 02:43 Ad of the week - 41:40 Spend My Money - 49:14 Total Duration: 56:27 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Marketing/Advertising Podcasts Ford GMC Honda Lexus Mazda MINI Volkswagen mazda cx-5 ford f-150 raptor gmc sierra hd volkswagen atlas mazda mx-5 rf lexus rc 200t

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.