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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.

Subaru Impreza WRX Turbo at 1994 prices

More on the ‘Recession-Busting’ deals that abound from car makers at the moment. Subaru has come up with a deal for the Impreza WRX Turbo where you can have the car for the same price as the 1994 equivalent – just £17,798. Which in itself is an interesting figure and shows that cars, or certainly the Impreza in this case, have got cheaper in real terms.

GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).