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Porsche 918 Spyder crashes in Germany

Porsche is in hot water with German authorities following an accident involving a prototype version of the gasoline-electric hybrid-powered 918 Spyder on a public road last month, according to reports in the German media. The accident, which took place between the towns of Bietigheim-Bissingen and Ludwigsburg (close to Porsche's research-and-development center), saw the 875-hp 918 Spyder spin out of control and collide with a guard rail. Parts of the new $845,000 Porsche flagship are said to have broken loose in the collision before being collected by an oncoming car.

Chrysler, Hyundai set pace as auto sales rise 11 percent

Chrysler Group, Volkswagen Group, Hyundai and Kia set the pace as U.S. light vehicle sales rose 11 percent in January from a year ago, signaling the industry's recovery is gaining traction. Chrysler's sales advanced by 44 percent last month, and volume climbed 40 percent at the Volkswagen Group.

RM Auctions buys Auburn complex from Kruse

RM Auctions has bought the Kruse International Auction Park in Auburn, Ind., from financially troubled auctioneer Dean Kruse and plans to hold the site's annual Labor Day weekend car auction Sept. 2-6. Rob Myers, RM Auction CEO, said his company will spend the next several weeks making upgrades to the auction facility and lining up consignments.