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California car dealer buys cache of Ferraris

A collection of 21 Ferraris has changed hands, and it's headed for the United States. Car collector Tom Price, owner of Price Family Dealerships in Marin County, Calif., bought 21 classic Ferraris. The collection hit the market last year as Dutch vehicle-distributor Kroymans entered into bankruptcy.

Peugeot 308 Wagon Announced

FRENCH car maker Peugeot has released the first details of the latest addition to its recently launched 308 range. Following on from the five-door hatchback, the firm is to launch an estate variant called the SW in the spring. Peugeot claims class leading load space plus a flat floor and the ability to fold the seats with a single action from inside the boot.

GM cuts Facebook ad spending, but Ford steps on the gas

On the eve of Facebook's wildly anticipated initial public stock offering, General Motors said May 15 that it will stop buying advertisements on Facebook--about $10 million a year--but "remains committed" to the social network as part of "an aggressive content strategy with all our products and brands." In other words, GM will not pay Facebook for ads but will continue to maintain content, for which Facebook doesn't collect revenue. News of the decision was reported in The Wall Street Journal. But GM's position is far from universal.