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Fisker goes to China's Wanxiang

China's Wanxiang Group won an auction for Fisker Automotive Holdings Inc., the maker of luxury plug-in hybrid cars, with a $149.2 million bid, almost six times what Fisker was seeking when it filed for bankruptcy. Wanxiang topped Hybrid Tech Holdings during the auction, which began on Wednesday and went through 19 rounds of bidding, with an offer that includes $126.2 million in cash and $8 million in assumed liabilities, Fisker said Friday in a statement. U.S.

GM to auction 'Cooksey' Corvette Z06 to benefit Haiti relief efforts

General Motors will donate the proceeds from the sale of a limited-edition Chevrolet Corvette 427 Z06 that is crossing the auction block this weekend to help fund relief efforts in Haiti. GM design boss Ed Welburn will introduce the car at the Barrett-Jackson auction on Saturday in Scottsdale, Ariz. The automaker will donate the money from the sale to the American Red Cross to fund its work in earthquake-devastated Haiti.

Silver linings: Saab and Mitsubishi see sales grow in May

Despite the company’s financial troubles, Saab sales are steadily increasing in 2011, with April and May numbers up 190 percent and 121 percent, respectively, from the same months last year. The Swedish automaker reported 385 units sold this May, versus 155 the year prior. So far this year, Saab has sold 2,765 vehicles, compared with 954 at the same point last year.