RM Auctions' Ferrari sale blasts price record

According to a release from RM:

RM Auctions, in association with Sotheby’s, made history this past weekend at Maranello, as the sale of a 1957 Ferrari 250 Testa Rossa set a new world record for the highest price achieved by a motor car at auction. One of just 22 pontoon-fendered Testa Rossas produced, this wonderful example of one of the most significant racing cars in history attracted global media attention and spirited bidding. When the gavel fell, 0714 TR sold for €9,020,000 or approximately USD $12.2 million, surpassing the previous world record set by RM in 2008 for a 1961 Ferrari 250 GT SWB California Spyder.

Ferrari to leave F1??

After 60 years of continuous participation in Formula One competition (more than any other marque), Ferrari may not participate in the 2010 season as a result of FIA equipment rule changes that Ferrari feels are inappropriate.

Ferrari piggybacked the information on a financial press release this month, but it's sure to rock the racing world.

According to the press release, "The Board considers that if this is the regulatory framework for Formula 1 in the future, then the reasons underlying Ferrari’s uninterrupted participation in the World Championship over the last 60 years – the only constructor to have taken part ever since its inception in 1950 – would come to a close.

"The Board also expressed its disappointment about the methods adopted by the FIA in taking decisions of such a serious nature and its refusal to effectively reach an understanding with constructors and teams. The rules of governance that have contributed to the development of Formula 1 over the last 25 years have been disregarded, as have the binding contractual obligations between Ferrari and the FIA itself regarding the stability of the regulations.

The same press release showed Ferrari profits are down by about 10 percent of the same period last year, but saving more than $100 million on its F1 team are sure to reflect on the bottom line...unless Fiat plans to use those funds to bolster any takeover of Chrysler or GM's Opal division.

Time will tell, but I will miss the Scuderia gang on the starting grid, and hope the differences can be worked out.

New Lotus Esprit still a possibility

It's been half a decade since Lutus stopped production of its venerable Esprit, and there's still no replacement in production - but they're trying to get one launched by 2012. It has been reported recently that Lotus may be able to put the replacement into production if Evora sales generate enough revenue or they are able to line up additional financial backing.

The original Esprit was powered by a turbo-four cylinder engine, then a turbocharged eight, and word on the street is that the next generation would be powered by a BMW V8 - which is logical, since it won't directly compete with their product line like it will with Mercedes-Benz products or the VW/Audi family of vehicles.

Panamera to Forge New Ground for Porsche

The design is undeniably polarizing - people either love it or hate it. But either way, it's pure Porsche, and thus engineered for performance.

After decades of starts and stops creating a sedan, and even a production SUV, the Stuttgart gang brings us the Panamera, ready to take on the likes of Mercedes-Benz, BMW, and even Maserati. The front-engine, rear-drive car resembles a stretched 911 and will be available with a host of powerplants from the Cayenne, including a 3.6-liter V6 (296 hp) and 4.8 liter V8s (395 hp in the S, and 493 hp in twin-turbo). All variants on United States shores will have a 7-speed PDK dual-clutch transmission.

Look for all the options and features in the coupe line, as well as more than a few admiring stares and "what is it" questions. Pricing of close to $90,000 for the V6 may be a bit optimistic, but the V8 versions will likely give established Euro sedans a run for their money.

We have access to early deliveries, so call today.