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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.

Geneva Show 2014: All Change For Renault’s Twingo

FRENCH car maker Renault is set to shake up the city car market with the third generation of its Twingo model. In a bold move, this latest Twingo adopts a rear engine and rear-wheel drive layout. Engineers believe such a plan affords the car more cabin space and, potentially, a more engaging driving experience.

NADA asks U.S. to suspend clunkers program

National Automobile Dealers Association officials asked the government to suspend the cash-for-clunkers program because a survey by the group found that the $3 billion fund has been exhausted, NADA Chairman John McEleney said. "We asked them to put a halt to the program--I think we said 'very soon'--but a suspension at midnight tonight would make sense," McEleney said in an interview Wednesday. "Our survey opened the eyes of the Transportation Department." A suspension would allow dealers to submit all pending claims and permit the government to process them so that a precise determination could be made of how much money, if any, is left in the program, he said.