Screamin Eagle 32109-08c on 2040-parts.com

Underground Racing Lamborghini cracks 250 mph--watch the video here

Earlier this year, we told you about Underground Racing, a shop in Charlotte, N.C., that makes a business out of upgrading Lamborghinis with twin turbochargers to boost engine output to more than 1,000 hp. Now, a Lamborghini Gallardo Superleggera upfitted by Underground Racing cracked the 250-mph mark at the Texas Mile event. Car owner Richard Holt made the 250.1-mph run in late March, but video was posted just this week.

Latest Saab production halt raises concern

News today that Saab has halted production again, owing to problems paying suppliers, has raised further questions over the long-term financial viability of the independent car maker. Saab says it continues to negotiate with its local suppliers to ensure a supply of parts, but has declined to mention when production may resume. Didn't Saab have supplier issues last week?

Ferrari joins the Queen’s Diamond Jubilee Pageant

Ferrari joins the Queen's Diamond Jubilee Pageant Ferrari joins the Diamond Jubilee Pageant at Windsor castle and are bringing the 4th Mounted Carabinieri Regiment with them. With all things Diamond Jubilee filling the social scene (at least this side of London 2012) for the summer, even car makers are getting in on the act. We’ve already had Bentley deliver a Diamond jubilee Mulsanne as their version of a commemorative tea towel, and now Ferrari is chucking its hat in the Diamond Jubilee ring.