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Ferrari 599XX Evolution (2011) unveiled

While the rest of the world's media was at the Tokyo motor show, Ferrari stuck local with a surprise - modest - announcement at the 2011 Bologna motor show in Italy. It unveiled an evolution of the Ferrari 599XX, the track-based R&D and race toy for its well heeled customers. What's new on the Ferrari 599XX for 2012?

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.

To thwart speculators, Lexus will lease, not sell, 500 LFAs

Lexus has a plan to head off speculators when its limited-edition LFA sports car goes on sale in January 2011. The company will offer only two-year leases for the $375,000 two-seater, said Brian Smith, vice president of sales and dealer development for Lexus division. Lexus will hang on to the vehicle's title.