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Vintage cars cross the auction block at Meadow Brook

An impressive array of gleaming classics crossed the block on Saturday at RM Auctions' Vintage Cars of Meadow Brook sale in a white linen event that showcased the grandeur and glamor of automaking in the Motor City in the early part of the Twentieth Century. The 16 annual auction, held on the eve of the Concours of America at Meadow Brook, is located about a half an hour north of Detroit on the grounds of a mansion where the widow of auto pioneer John Dodge one lived. Unlike the other RM auction, held in an convention hall on the other side of town in the spring, the Meadow Brook event carries an austere demeanor, and the automobiles roll with a similar vibe.

Ford posts record first-quarter profits

Ford Motor Co. said first-quarter net income increased 15 percent from a year earlier to $1.61 billion, as rising U.S. auto sales pushed North American profits to a record, offsetting deeper losses in Europe.

French government vows Renault reform after meeting with Ghosn

The French government will see to it that the individuals responsible for the now debunked Renault SA espionage affair are dealt with, the Finance and Industry ministers said in a statement. "The ministers underscored that they will pay close attention to organizational reform and individual responsibility (at Renault) based on the result of the audit," Finance minister Christine Lagarde and Industry Minister Eric Besson said in a joint statement after meeting with Renault CEO Carlos Ghosn on Thursday. The French state, which owns 15 percent of Renault, has called for a thorough investigation into discredited claims that three Renault executives were spying on the carmaker, possibly for a foreign government.