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RM Auctions buys Auburn complex from Kruse

RM Auctions has bought the Kruse International Auction Park in Auburn, Ind., from financially troubled auctioneer Dean Kruse and plans to hold the site's annual Labor Day weekend car auction Sept. 2-6. Rob Myers, RM Auction CEO, said his company will spend the next several weeks making upgrades to the auction facility and lining up consignments.

2013 Ford Escape hit with two additional recalls

Ford Motor Co. today said it is issuing two additional recalls of its 2013 Escape crossover after receiving reports of fires in 13 more vehicles. They bring the total number of recalls of the 2013 Escape to seven, five of which involve fire risks on models equipped with a 1.6-liter engine.

Tesla plans to launch Nissan Leaf fighter in 2016

Tesla Motors will launch its smaller electric sedan in late 2016, with a range of at least 200 miles and a price point "half" of the flagship Model S, Tesla CEO Elon Musk said. Musk's timeline, range and price announcement is the most definitive data so far regarding the so-called "Gen III" vehicle. The current Model S starts at $62,400, meaning the Gen III car will start at about the same price as the Nissan Leaf SV and have triple the real-world range.