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A two seater 1914 Peugeot L45 racecar was auctioned at the Bonham’s Auction in Los Angeles at a world record price of €4 million (N2.7 billion).

The vintage racecar was driven by Ralph Mulford in the 1916 Indianapolis 500 mile race which he finished third position ahead of other automobiles.

Initially the German race car had a 3.0 litre engine but was later replaced with a 4.5 litre 4 cylinder engine and could generate up to 112bhp at 2800rpm

See photos below

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