2003 Mach1 Mustang on 2040-cars

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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.

New UAW boss Williams talks tough, vows 'no more concessions'

Dennis Williams, the newly elected president of the UAW, had some tough words for American automakers in his inauguration speech at the 2014 UAW Convention, striking down the possibility of any additional concessions from the 400,000-strong union.
"No more concessions. We are tired of it. Enough is enough," Williams said during his speech. UAW employees have not received a raise in nearly 10 years, according to Reuters.
Considering the recent strong results for Ford, Chrysler and General Motors, the union's demands are likely to carry a bit more weight in next year's negotiations. And considering Williams' tough stance, we could be in for some fireworks once negotiations commence.

Recharge Wrap-up: Ford 1.0L EcoBoost a hit in Europe; Build a tiny inverter, win $1 million

In Europe, Ford's 1.0-liter EcoBoost engine is the best-selling turbocharged gasoline engine. The three-cylinder motor powers 20 percent of new Fords sold in Europe. Earlier this year, it won its third International Engine of the Year award, and between January and June, it was sold in about 120,000 cars. So far this year, 38 percent of Fords sold in the Netherlands, 35 percent in Denmark and 32 percent in Switzerland have been powered by the 1.0-liter EcoBoost. The engine's turbocharger spins at 248,000 rpm, and provides 24 psi of pressure. The engine produces up to 138 horsepower, depending on the version. Read more in the press release below. When lithium-ion battery packs are retired from the road, remanufacturing, repurposing, and recycling are worthwhile options, according to a study by Mineta Transportation Institute. The study included a cost-benefit analysis of those three options, and found remanufacturing to be the best route. To get the most out of them, batteries should be tested and have their damaged cells replaced then put back to use. Repurposing is the second best option, using the remaining available charge for something besides cars. Recycling on its own isn't profitable, but it could make economic sense with "increased technological breakthroughs." Learn more at Recycling International or download the report here. A smaller inverter for EVs can win you $1 million. The Little Box Challenge is an open competition to build a power inverter with a density of at least 50 watts per cubic inch. Google and the Institute of Electrical and Electronics Engineers (IEEE) are offering the hefty prize to the team that builds the inverter with the highest power density within an enclosed volume of 40 cubic inches. Teams must register by September 30. Read more at Green Car Congress or learn more at the Little Box Challenge website.