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Ferrari auction raises funds for Japan relief

Car lovers came together for a good cause at the Italian Embassy in Tokyo on Monday. More than 200 people participated in a Ferrari charity auction, which raised more than 500,000 euros, or about $723,000 at current exchange rates. Proceeds will benefit the city of Ishinomaki, which was severely hit by the earthquake in Japan in March.

VW Space Up concept

By Ben Pulman First Official Pictures 24 October 2007 10:30 Up, up, and away… Yes, the Volkswagen Up is back. The Tokyo Motor Show today saw VW unveil a second iteration of their new small family car – a third model will be shown at the LA Auto Show in November 2007. Called the Space Up!, the rear-engined car is a stretched version of the three-door we saw at the Frankfurt Motor Show earlier in the year.

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.