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RM Auctions' Icons sale brings good return on customs

Hot-rod and custom-car enthusiasts came from across the country for RM Auctions' Icons of Speed and Style sale in Los Angeles on Saturday, which offered the entire collection of the Flying A Garage. Collector Ralph Whitworth had big plans to open a car museum in his native Winnemucca, Nev., and had assembled one of the greatest rod, custom and racing-car collections ever to make it happen. He housed it in a new, climate-controlled building in Winnemucca called the Flying A Garage and had plans to open a museum to draw interest to his hometown.

Panoz launches newest sports car, the Abruzzi

The spirit of Le Mans--along with the spirit of the out-of-production Panoz Esperante--lives on in Panoz Auto Development's latest creation, the Abruzzi. Named for the people from the south-central Abruzzo region of Italy, the Abruzzi draws its inspiration from the 24 Hours of Le Mans, where the car is making its world debut on Tuesday, and its styling from the 1935 Delahaye Type 135 tear-drop coupe. "It is about the true spirit of Le Mans, a car you can drive from home to the racetrack, race it, and then drive home again," Panoz chairman and American Le Mans Series owner Don Panoz said.

Fiat buys remaining stake in Chrysler (2014)

By Damion Smy Motor Industry 03 January 2014 13:30 Fiat has purchased the remaining stake in Chrysler to become the sole owner of the US car firm. In a deal worth £2.2billion, the Italian company bought the remaining 41.46% of Chrysler from the VEBA Trust (Voluntary Employee Beneficiary Association) made up of current and former Chrysler employees. Fiat Chief Executive Sergio Marchionne says: ‘In the life of every major organisation and its people, there are defining moments that go down in the history books.