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GM disbands unit that creates high-performance vehicles

General Motors, focusing on mainstream products in a battle to survive, has scrapped a unit that produced high-performance vehicles. GM on Wednesday disbanded High Performance Vehicle Operations, which is based at the company's suburban Detroit technical center, and redeployed its engineers, spokesman Vince Muniga said. "All high-performance projects are on indefinite hold," Muniga said.

2013 Mazda 3, 2014 Mazda CX-5 earn 'Top Safety Pick' rating

Mazda announced Wednesday that the 2013 Mazda 3 and the 2014 Mazda CX-5 have both earned “good” ratings from the Insurance Institute for Highway Safety. To achieve the overall “good” rating, the vehicles had to perform well in each of the following crash-test categories: frontal moderate overlap, side, rear impact and roof strength. “The Mazda 3 and the CX-5 are two very important vehicles for Mazda and our customers,” said Jim O'Sullivan, president and CEO, Mazda North American Operations (MNAO).

McLaren F1 sells for $8.47 million at Gooding & Co’s Pebble Beach Auction

McLaren F1 chassis #66 (pictured) has sold for $8.47 million There’s been an inexorable rise in the price of classic cars in recent years as rich men realise that certain classic cars not only have huge appeal, but appear to be going only one way in price. Add to that – certainly in the UK – that any profits made on the sale of a classic car you’ve bought for your own enjoyment are tax free, and it’s no shock that values keep rising, and the rarer the car the more they rise. So with only 64 road cars made, the McLaren F1 can be considered a sound investment, with values rising since it first sold in the 1990s for around £640,000 to a new world record auction price set last night of £8.47 million (around £5.42m).