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Lambo Aventador production delayed by earthquake

Lamborghini has admited some deliveries of its V12 Aventador flagship may be postponed following sucessive earthquakes in the Emilia Romagna region in late May 2012. How have the Italian earthquakes impacted on Lamborghini? A statement overnight from the Sant'Agata HQ said that the tremors on 20 and 29 May didn't actively damage the Lamborghini factory, or hinder Gallardo production.

Ford GT Sells For a Record $11 million at RM's Monterey Auction

RM Auctions sold a 1968 Ford GT40 Gulf/Mirage coupe Friday night at its Monterey sale for $11 million, setting a record for the highest price paid for an American car at auction. The Friday sales showed once again a very strong market for cars selling at auction, according to statistics gathered by classic car insurance giant Hagerty. In comparing this year's sales to last year, the total number of cars sold in two days of auctions was down slightly while the total amount generated -- $67.5 million – is far greater, as is the average selling price.

Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.