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Clunkers claims hit $1.15 billion Monday, government says

Dealer claims for cash-for-clunkers rebates continued to climb late last week after it became clear that the program would get $2 billion in new funding. Dealers had submitted 273,077 applications totaling $1.15 billion as of Monday morning, the Department of Transportation said today. That's about $120 million above the figure of last Friday morning.

GM returning to leasing with luxury vehicles

General Motors will return to the leasing business focusing on luxury vehicles, but not on a broader basis, Vice Chairman Bob Lutz said. "We will get back into leasing, but we are not going to use massive subsidized leasing to drive volume because it's volume without profitability," Lutz said July 29 in an interview with Automotive News. "We'd rather sell less at higher profit than sell more at lower profit." Lutz said it still would make sense for GM to do more leasing on its luxury vehicles.

2,000hp Trion Nemesis 'hypercar' unveiled

Apart from having possibly the coolest name of any current hypercar and looking like a Storm Trooper's wheels of choice, the Trion Nemesis is attracting attention for another reason – its 2,000hp engine. At double the level of power produced by a Bugatti Veyron, that ought to deliver some mind-bending performance. Please click on the image above to read more on the Trion Nemesis