ROLLS-Royce unveiled its first car under BMW ownership at this week's North American International Auto Show in Detroit. The Phantom (pictured below), assembled at the new Rolls-Royce factory in Goodwood, uses a purpose-built 6.7-litre V12 engine, developing 453bhp and 531lb-ft of torque.

The car promises acceleration from 0-60mph in 5.7 seconds with a maximum speed of 149mph, and inside boasts fine leather, cashmere trim and fitted cabinetry. Both the interior and exterior design echoes famous Rolls-Royces from the past, while prices for the new Phantom are expected to start at a thoroughly modern £250,000.

Meanwhile, General Motors is preparing to do battle with the new Rolls-Royce with a 1,000bhp ultra luxury car named the Sixteen. It features a V16 engine and is likely to have a price tag of £125,000.

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