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Classic car prices on the up: Jaguar D-type sells for £3 million

Classic car prices seem to be ever-rising, with historic models becoming an investment to rival buying property or gambling on the stock market. The inaugural RM Auctions Paris sale this week was a case in point, and resulted in nearly £15 million’s worth of the world’s rarest and most exotic cars going under the hammer. Four cars alone went for in excess of £1 million, and a Jaguar D-type sold for three times that amount.

Fisker to buy former GM Solstice/Sky plant in Delaware for $18 million

The old General Motors plant in Delaware that until July cranked out sports cars for Pontiac, Saturn and Opel will be sold and retooled to build plug-in hybrids with UAW workers. Fisker Automotive said Tuesday that it will buy the plant, located in Wilmington, Del., from Motors Liquidation Co.--the old General Motors Corp.--for $18 million. If Fisker's plans come to fruition, production at the plant could start in late 2012.

NHTSA investigating Toyota Prius hybrid for steering-shaft concerns

The National Highway Traffic Safety Administration announced Monday it will look into whether steering shafts in Toyota Prius models spanning from 2004 through 2009 model years are defective. According to the Detroit News, NHTSA has already recalled the Toyota Prius twice for steering-shaft problems. In 2012, 669,000 Prius vehicles from 2004-2009 model years were recalled to replace the steering-shaft extension assembly.