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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.

Obama to herald auto industry turnaround from idled Ford plant

President Barack Obama will tout the recent successes of the American auto industry in a speech on Wednesday. This would be a fine and dandy plan aside from two small hitches. First, the president is visiting Ford's Wayne, MI factory, which is rather strange considering the government bailed out the company's local rivals, Chrysler and General Motors. Even more worrying, considering the topic of the speech, is that the Wayne facility has been idled due to a lack of demand. According to The Detroit News, the White House said the speech will focus on "the workers in the resurgent American automotive and manufacturing sector now that the auto rescue has been completed and the decision to save the auto industry and the over one million jobs that went with it." Wayne Assembly employs some 5,100 Michiganders when its lines are up and running, but as gas prices have plunged below $2 per gallon in some areas over the past month, its fuel-efficient products – the Focus and C-Max – have seen their sales plummet, as well. In December, the Focus' year-over-year sales were down 4.4 percent, while the C-Max dipped 3.3 percent, Ford told The News. Lagging sales for the two compacts aren't a new thing, though. Focus sales in all of 2014 were down 6.4 percent, while the C-Max struggled with a 21.6-percent drop last year. According to The News, Ford made the decision to idle the factory before being approached by the White House. Considering that, we wonder what the team at 1600 Pennsylvania Avenue was thinking when it selected the Ford facility, and what impact the location will have on the president's message. News Source: The Detroit NewsImage Credit: Mira Oberman / AFP / Getty Images Celebrities Government/Legal Plants/Manufacturing Ford

2014 Ford Fiesta ST priced from $21,400* [w/poll]

The 2014 model year brings a whole host of changes to Ford's Fiesta B-Segment fighter, the most important of which (to our enthusiast eyes, anyway) is the addition of a potent new ST model. The US-spec hot hatch was first shown at the 2012 Los Angeles Auto Show last November, and thanks to Ford's build-and-price site, we've now learned that the Fiesta ST will slide in at $21,400 when it goes on sale later this year (*not including $795 for destination).
Under the hood of the ST is a turbocharged 1.6-liter EcoBoost inline-four good for 197 horsepower and 214 pound-feet of torque, mated solely to a six-speed manual transmission. Ford hasn't released performance data on its pint-sized puncher just yet, but know that these numbers make the Fiesta ST ever-so-slightly more powerful than the larger Volkswagen GTI while returning an estimated 34 miles per gallon on the highway.
Elsewhere in the lineup, the standard Fiesta also gets a smattering of improvements for the 2014 model year, including a new 1.0-liter three-cylinder turbocharged engine and revised exterior styling. Pricing for the 2014 Fiesta sedan starts at $14,000, with the five-door model adding $600 to that number (again excluding the $795 destination fee).