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Arizona auctions: Scottsdale sales net an estimated $157 million

WITH VIDEO -- Five days of sales staged by auto auction companies in the Phoenix area pulled in a combined estimated total of $157 million, according to Hagerty Insurance. The five companies staging auctions--Barrett-Jackson, Gooding & Co., RM Auctions, Russo and Steele and Silver Auctions--offered 2,887 lots for sale and sold 2,325 of them, an 81 percent sell-through rate. A 2006 Ferrari FXX Evoluzione at the Gooding auction was listed as the top single sale with a price of $2.09 million, Hagerty said.

BMW to build Gran Coupe to challenge Mercedes-Benz, Porsche

BMW will build its Gran Coupe concept car, the company's development chief Klaus Draeger said. The production Gran Coupe will rival luxury coupe-styled four-door cars such as the Mercedes CLS, Audi's upcoming A7 and the Porsche Panamera. The concept was unveiled at the Beijing auto show in April.

2014 Lexus CT 200h gets a price cut

2014 Lexus CT 200h (pictured) gets a price cut The 2014 Lexus CT 200h was revealed at the Guangzhou motor show in China back in November, and now it’s ready to order in the UK with a raft of updates and a price cut across almost the whole range. Now starting from £20,995 for the CT 200h S – £1,00 less than before – the S also sees its emissions reduced to just 82g/km and extra visual appeal with a new grill that makes the car seem wider and lower. Further up the CT 200h range, the F Sport gets the new spindle grill the IS F Sport gets as well as a new spoiler at the back with integrated air ducts.