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Arizona auctions: Early days filled with optimism

The sun kept shining--both as a metaphor and in reality--while the cars were selling at the Arizona auctions. As of late Thursday, Barrett-Jackson had completed three of its six days of sales. Preliminary numbers assembled by on-site reporters indicate total sales of $20.2 million at the halfway mark, with 100 percent of the 656 cars on offer sold.

Morgan booted from Morgan

Charles Morgan may have his name emblazoned across the bonnet of every Plus Four and Three-Wheeler that leaves Pickersleigh Road, Malvern Link, but he's no longer in charge. The board of directors at Morgan Motor Company has made a decision for Mr. Morgan to step down from his role as strategy director, as well as the international face of the car company that his grandfather founded.

Saab turns down takeover offer from Chinese investors

Swedish Automobile, owner of Saab, has turned down a takeover offer from China's Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. Youngman and Pa Dang signed a nonbinding memorandum in July to take a combined 53.9 percent stake in Swedish Automobile for about $338 million.