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Breaking: 2015 Corvette Z06 drops its top for New York auto show

This is the new 2015 Corvette Z06 convertible, the Stingray for owners who want it all, shown a little earlier than we expected. Buyers get the Z06 engine, racing suspension and brakes, and now, for the first time since 1963, they can get that package with a convertible top, as we'll see at the New York auto show. “Until recently it was not possible to create a lightweight, open-roof structure strong enough to cope with the braking, cornering and acceleration of Corvette's top performance models,” said Corvette chief engineer Tadge Juechter.

Ferrari F12 Berlinetta to be auctioned for Sandy victims

Ferrari is doing its part to help Hurricane Sandy victims by auctioning off the first F12 Berlinetta that will be sold on American soil. The base price of Ferrari's halo model is about $315,000. We'd expect this one to go for much more than that.

GM posts $7.6 billion profit for 2011

General Motors on Thursday posted a $7.6 billion profit for 2011, while recording its smallest quarterly profit of the year in the fourth quarter. Net income for the October-through-December period fell 7 percent from the year-earlier period to $472 million, as a $562 million loss in Europe--the steepest of the year there--weighed on the automaker's bottom line. North American earnings nearly doubled.