The most common and most likely answer to this crossword clue is the 8 letter word MERCEDES
I've seen this crossword clue in Financial Times
M
E
R
C
E
D
E
S
More clues leading to the result MERCEDES
- Waves to Frenchman, then turns over posh car
- This compiler, at onset of rubella, gives up
- Miner losing home gives up car
- Male monarch abandons car
- Luxury car seemed improper outside church
- Carmen’s friend in car
- One’s hired Eastern half of attractive location in posh car
- This writer gives way after first appearance of racing car
- Butterfly in car
Buddy explains!

The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.