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Arizona auctions: Scottsdale sales net an estimated $157 million

WITH VIDEO -- Five days of sales staged by auto auction companies in the Phoenix area pulled in a combined estimated total of $157 million, according to Hagerty Insurance. The five companies staging auctions--Barrett-Jackson, Gooding & Co., RM Auctions, Russo and Steele and Silver Auctions--offered 2,887 lots for sale and sold 2,325 of them, an 81 percent sell-through rate. A 2006 Ferrari FXX Evoluzione at the Gooding auction was listed as the top single sale with a price of $2.09 million, Hagerty said.

Pininfarina to close manufacturing operations

Italian design and manufacturing house Pininfarina S.p.A announced it will be cutting back its operations, with the closure of its manufacturing facilities. The decision will see the brand now focusing solely on design and engineering aspects for the automotive industry. The move follows the recent completion of a partnership with Volvo, which saw the production of the C70 convertible at Pininfarina's Sverige AB plant in Uddevalla.

Nissan Leaf electric vehicle headed for U.S. market in 2010

Nissan has taken the wraps off its production-bound electric vehicle, named Leaf, that is plans to sell in Japan, the United States and Europe. The Leaf seats five and measures 175 inches long--about the same size as a Versa sedan. It uses an 80-kilowatt AC electric motor and draws from a laminated lithium-ion battery pack--the same type of batteries used by cellular telephones and laptop computers.