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Video: Hagerty reviews Friday action at Monterey Peninsula auctions

Hagerty magazine publisher Rob Sass recaps Friday's top Monterey auction results from Russo and Steele, Bonhams, Mecum and RM Auctions with Hagerty Price Guide's Dave Kinney and professional appraiser Donald Osbourne. The Monterey Week is packed with car shows, vintage racing and car auctions. Autoweek will be there providing streaming photo galleries and live coverage of the Pebble Beach Concours d’Elegance, historic racing at Laguna Seca, the Monterey car auctions and much more.

Volkswagen Phaeton will return to U.S. market

The Phaeton large sedan is coming back to Volkswagen's lineup in the United States, according to the head of the German plant that builds the car. VW pulled the $85,000 Phaeton from the U.S. market in 2006 after four years of falling short of sales expectations.

GM, SAIC to develop electric cars in China

General Motors will work with its joint-venture partner, Chinese carmaker SAIC Motor Corp., to develop parts and vehicle platforms for electric cars, the companies said on Tuesday. The automakers will use their existing joint venture in Shanghai, the Pan Asia Technical Automotive Center, as the home base to develop the electric car--aimed primarily at the Chinese market. GM says it plans to use the platform, components and technology from the project to build electric cars around the world for various markets.