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Money flows at Monterey Auctions

Buyers of classic vehicles have dug deep into their pockets at auctions on the Monterey Peninsula, easily topping the sales totals from last year with one auction still remaining. More than $203 million has been spent on 704 vehicles, for an average sale price of $288,360. In 2011, the auction houses set a record for total sales during Pebble Beach week at $197,732,538 having been spent on 881 vehicles for an average sale price of $224,441.

Detroit Electric reboots for Shanghai auto show

The Detroit Electric name is being revived in the Motor City. The company says it will reveal its first electric sports car -- based on the Lotus Elise -- at the Shanghai Motor Show in April, and begin selling in limited markets by August. That's a lofty goal for a company that just hit our radar on Tuesday morning.

Peter Schreyer introduces Kia's new Sportage

It's a sign of just how significant the new Sportage is for Kia that rather than flying UK journalists to an international launch location the company instead rented a boutique hotel in London's Notting Hill, created a sketch gallery in the basement and flew in key members of the car's development team to meet the press — who were then lent some the first new Sportage's in the UK to test for a month. One executive present at the event was Kia's Senior Executive Vice President and Chief Design Officer, Peter Schreyer. Car Design News was invited to meet with Peter to talk about his role at Kia and for him to talk us through a vehicle Kia is billing as the first to be designed entirely under his tenure.