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Seven-figure cars highlight day one of RM's Monterey auction

RM Auctions is one of several houses holding auctions during the Monterey weekend, and Friday night's festivities got quite pricey. Seven-figure vehicles were not at all uncommon during the first day of the two-day event, with the 1953 Ferrari 375 MM Spider, seen above, crossing the block for $9,075,000.
Other big earners included a pair of rare Ferraris, a 1950 166 MM Barchetta and a 1955 750 Monza Spider, which took $3,080,000 and $4,070,000, respectively. Outside of the red Italians, a 1939 Mercedes-Benz 540K Special captured $7,480,000 while a stunning, color-appropriate 1955 Jaguar D-Type took $3,850,000. We've got images of these vehicles, and a few other stunning examples of last night's auction, in the gallery above.
Thought it seems impossible, tonight's auction is expected to see even more high-dollar action. The winner of the 2012 Pebble Beach Concours, a 1928 Mercedes-Benz 680S Torpedo Roadster is expected to command over $10 million. Also crossing the block will be a car we reported on a few weeks back - a supremely rare 1967 Ferrari 275 GTB/4 NART Spyder. One of only 10 in the world, it's expected to take anywhere from $14 to $17 million when it hits the stage tonight.

Jaguar returns to open-wheel racing with Formula E team [w/video]

One of the most legendary names in motor racing – Jaguar – is returning to the open-wheel racing, but not with an internal-combustion engine. The British company has confirmed its plans to enter the FIA Formula E Championship. Though the British automaker has revealed little in the way of concrete details, the team is set to join the electric grid for the third season starting next fall. Jaguar will team up with Williams as its technical partner, drawing on the relationship they established in developing the C-X75 hybrid hypercar concept and on Williams' considerable racing expertise. The F1 team founded by Frank Williams developed the battery system for the SRT_01E that all the teams are using currently. "Electric vehicles will absolutely play a role in Jaguar Land Rover's future product portfolio and Formula E will give us a unique opportunity to further our development of electrification technologies," said JLR's chief engineer Nick Rogers. "The Championship will enable us to engineer and test our advanced technologies under extreme performance conditions." The company recently showcased new battery propulsion technology and is said to be developing an electric crossover to be dubbed the Jaguar E-Pace. Jaguar won Le Mans five times in the 1950s and twice again in 1988 and '90, and racked up victories in touring cars in the early 80s. Most recently Jaguar Racing represented the company in Formula One until then-parent Ford sold the team to Red Bull in 2004 before divesting itself from the company altogether in 2007. Aside from the XKR GT3/GT2 that it furnished to privateer teams, Jaguar has not competed in any major racing series since. Jaguar joins Audi, Renault, and PSA Peugeot Citroen on the Formula E grid. The announcement coincides with the withdrawal from the series of the Trulli team. Former F1 driver Jarno Trulli took over the outfit from Drayson and is now relinquishing the slot back to the series organizers effective immediately, dropping the grid down to 9 teams and 18 cars until Jaguar takes its place next season. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jaguar E-Type Series 3 gets tasteful upgrades thanks to E-Type UK

The Jaguar E-Type is one of the most important and recognizable cars of all time. The E-Type — also called the XK-E here in the U.S. — was in production from 1961 until 1975. That said, when most people think of E-Types, they think of the early Series I cars. The later ones (especially federalized models with those horrendous bumpers) don't get much love. E-Type UK, a restoration shop in England, is giving those Series 3 models a second life. The car in these photos is a 1974 Jaguar E-Type V12. This Series 3 underwent a 3,000-hour restoration, getting a number of upgrades along the way. The engine — originally displacing 5.3 liters — has been enlarged to 6.1 liters. It ditched the original Stromberg carbs for a custom downdraft fuel-injection system. Just take a look at those velocity stacks. The car has also been fitted with a custom stainless-steel exhaust system. Power is sent to the rear through a new close-ratio five-speed manual transmission. E-Type UK says it now makes 284 horsepower at the wheels. Other upgrades include a new steering rack, adjustable suspension with new torsion bars, AP Racing brakes with four-piston calipers and ventilated rotors and custom one-off 62 spoke 16-inch Turino wire wheels wrapped in whitewall tires. New louvres and air ducts were added to help cooling. All external lighting has been upgraded to LEDs, including the daytime-running lights. Inside, the E-Type has been fitted with air conditioning, modified heated leather seats from an XJS, iPod and Bluetooth connectivity, piano black trim and a red start button. The interior, including the factory hardtop, has also been fitted with Dynamat to reduce road noise. The car even has remote door locks. E-Type UK didn't post the price for this car, but a similar S3 E-Type is listed for GBP190,000, or about $250,000. If Series 3 or V12-powered cars aren't your thing, the website has a few listings for Series 1 cars with the classic inline-six. There's even an XK120 under the "sold" listings. Related Video: