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IRANIAN PRESIDENT AUCTIONS PEUGEOT

IRANIAN President Mahmoud Ahmadinajad is auctioning his 1977 Peugeot 504 to raise money for charity. The often controversial leader is inviting bids through Iran’s Central Bank, with the money raised intended to be used to build homes for the poor and disabled of Iran. Interested parties can register through a website in order to place offers.

New compact Lexus SUV based on Toyota RAV4 on the way

Lexus are planning a compact SUV to slot in below the RX, and based on the Toyota RAV4, to compete in the compact SUV market. Which explains why Lexus are looking for a model to slot in below the hybrid RX (pictured above) – a full size SUV/Crossover – to keep them competitive. And what easier way to go than to take the new Toyota RAV4 and turn it in to a Lexus?

Porsche Panamera explained in greater detail

Porsche has revealed previously undisclosed details of its new Panamera ahead of a planned public debut at next month's Shanghai motor show. On sale in North America on Oct. 17, the first-ever Porsche sedan will cost more than the BMW M5 and the Mercedes-Benz CLS63 AMG, with prices starting at $89,800 for the base rear-wheel-drive Panamera S and rising to $93,800 for the four-wheel-drive Panamera 4S.