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Early Mercedes sells for £720,000

ONE OF the oldest surviving Mercedes cars has sold at auction for an astronomical fee. The Mercedes Simplex 28/32 HPs Phaeton eventually sold for £720,000 at the Coys auction house True Greats sale in London. Still in complete and roadworthy condition, the car was reported to be in superb, drivable condition before its sale, which was the first time it had been auctioned in its near-109-year life.

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.

Porsche Panamera to get new V6 engine

Porsche will reveal two new 3.6 V6 petrol versions of the Panamera at the Beijing motor show 2010. These are the first official photos of the new models, the Panamera and Panamera 4, which will be offered as cheaper alternatives to the S, 4S and Turbo versions. In the rear-wheel drive entry-level Porsche Panamera, the new 296bhp, 295lb ft V6 powerplant produces 265g/km of CO2 and will manage just 25 miles on a gallon of fuel.