Big Spenders Flock To Bohnams Festival Of Speed Auction

GOODWOOD’S Festival of Speed might be famous for the action on its famous hill, but there’s more to the self proclaimed ‘world's largest motoring garden’ than just the racing. And just to prove the point, this year the annual Bonhams sale earned a staggering £22.6 million on the Friday of the event. The star attraction was a 1954 Ferrari 375-Plus, as used in iconic road races such as the Mille Miglia, Targa Florio and Carrera Panamericana, which sold for £10.7 million following a fierce battle between bidders.

GM's Lutz to retire May 1

General Motors Vice Chairman Bob Lutz plans to retire from the automaker effective May 1, according to a statement released by GM on Wednesday. Lutz, 78, had been serving as a senior adviser to GM Chairman and CEO Ed Whitacre after shelving retirement plans to take charge of the automaker's marketing after it emerged from bankruptcy in July 2009. An outspoken executive who both challenged global warming and championed GM's all-electric Volt, Lutz is credited with revitalizing GM's product development efforts after being hired by former GM CEO Rick Wagoner in 2001.

Volvo Concept Estate to become new Volvo V90?

The Volvo Concept Estate (pictured) looks set to be the new V90 The final in a trio of new concepts from Volvo showcasing their new platform and new direction debuted at the Geneva Motor Show earlier this month as the Volvo Concept Estate. And it seems it might be heading for production. Not, as we expected, as a replacement for the Volvo V60, but as a larger car set to replace the V70 and to be dubbed the V90, according to Auto Bild.