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Saturday night's all right at Barrett-Jackson auction

Auction company Barrett-Jackson has a long-standing tradition of selling cars with no reserve--meaning the car is sold to the highest bidder regardless of price--but a change in that policy saw several million-dollar sales Saturday night at the annual extravaganza in Scottsdale, Ariz. While most of the cars crossing the Barrett-Jackson auction block continue to be sold at no reserve, the auction giant offered up several classics with a reserve and the results were impressive. The top five sellers all eclipsed the magical million-dollar figure with the auction broadcast live on Speed TV.

GM transplants Chevrolet Volt technology into the Cadillac ELR hybrid

One of the headliners of the 2009 Detroit auto show, the Cadillac Converj concept, will become production reality. Cadillac confirmed some details on Wednesday afternoon and said that the coupe will be called the ELR. It will use a T-shaped lithium-ion battery pack, and a generator kicks on to extend range, similar to the Chevrolet Volt.

Chrysler first-quarter profits down

Chrysler Group said net income fell to $166 million in the first quarter as costs of two large product launches crimped the automaker's seventh consecutive quarterly profit. Profit fell 65 percent from the $473 million posted during the same quarter of 2012, Chrysler said in a statement today. First-quarter revenues dropped 6 percent to $15.4 billion.