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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.

Volkswagen to buy 42 percent of Porsche, full merger planned

Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.

Autoweek archives: A fast week in the Bahamas

From the archives of Competition Press comes a page from the December 1963 issue, which covered multiple events hosted during the Nassau Speed Week in the Bahamas. For 13 years in the 1950s and ‘60s, the Bahamas were the place where professional drivers from around the world came to relax, race and party together. Originally intended to draw tourism to the island of New Providence, the Nassau Speed Week became a highly enjoyed week for all those in attendance.