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Ford, Nissan, GM, Chrysler post double-digit April sales gains

UPDATED: Strong demand for large pickups and new models propelled Ford Motor Co., Nissan Motor Co., General Motors and Chrysler Group to double-digit sales gains in April, signaling the auto industry's recovery remains solid. The seasonally adjusted annualized sales rate for April was tracking at 15.1 million based on results from automakers representing 55 percent of the U.S. market, J.P.

Bernie Ecclestone's daughter buys pricey house in Los Angeles

After nearly three years, Candy Spelling has finally found a buyer for her Los Angeles mansion (which some would call a castle)--the daughter of Formula One commercial boss Bernie Ecclestone. Petra Ecclestone, 22, will be the new owner of the 57,000-square-foot home in Holmby Hills, according to the Wall Street Journal. Spelling was asking $150 million for the joint, which puts it among the most expensive homes in the country, according to the newspaper.

At the Detroit Auto Show, Lincoln gets a C

Hoping to attract younger buyers, Ford's Lincoln division unveiled the Lincoln C concept at the Detroit Auto Show this week, a car Lincoln calls a big idea for a small luxury car. Ford's vision: a small, more fuel-efficient car for congested urban areas and compact parking spaces that still provides driver and passengers with luxury and comfort of larger sedans. "Modern luxury buyers who live and work in large, urban areas want to play their part in helping the environment by moving to a smaller vehicle, but they still want to enjoy the luxuries of life," said Peter Horbury, executive director of Design, The Americas.