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Arizona auctions: Valley of the dollars

The next chapter in the battle for auction supremacy will commence this month, when the auction giants gather under the sun for the annual Arizona auction week. Leading the charge is perennial powerhouse Barrett-Jackson, which gathers lots of cars and automobilia under one massive tent. Cars start hitting the block for the six-day auction on Tuesday, Jan.

Toyota hands over small-car development to its European unit

Toyota Motor Corp.'s European division next month will take charge of global product planning for small cars as the Japanese automaker expands model research and development in the region. The change, announced Dec. 17, means that Toyota will count on Europe to develop future products in the minicar, subcompact and compact segments, something that Ford Motor Co.

Audi denies high price hits sales of new A1

Audi denied suggestions that its new A1 entry-premium car is losing sales because it is priced too high. Audi dealers and industry observers believe the A1 is failing to attract an expected rush of customers because it costs too much for its target group of young people, according to Automobilwoche. The A1's starting price is 15,800 euros ($20,873) in Germany.