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Audi R8 V10 sells for $500,000 at charity auction

Which would you pay more for--a V10-powered Audi R8 or the new Ferrari California? At the third annual Boca Raton Concours d'Elegance in Florida last weekend, the Audi R8--the first one in the United States equipped with the 5.2-liter V10--was the winner in a charity auction, selling for $500,000, well above the car's sticker price of $180,000. Meanwhile, the Ferrari California was snapped up for $350,000, a bit more than the $225,000 sticker price.

Musk says no recall after Tesla Model S fires

Following a series of collisions resulting in vehicle fires, Tesla Motor’s Elon Musk recently told Bloomberg that the electric Model S will “definitely” not be recalled by the automaker. The National Highway Traffic Safety Administration has agreed -- so far. NHTSA decided against a full investigation after the second Model S fire in October.

GM to build Cadillacs outside the U.S.

General Motors CEO Dan Akerson said Tuesday that the company plans to begin building Cadillacs outside the United States by the end of 2012 as part of its plan to make GM's premium brand a true global nameplate. Akerson said overseas Cadillac production would reduce the risk of foreign-currency fluctuations and allow GM to better manage its supply chain. Although Cadillac long has been sold in China and other international markets, it's produced only in North America.