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Mercedes AMG GT gets new 503 bhp Twin-Turbo 4.0 litre V8 (video)

The new Mercedes AMG GT (pictured) gets the new 503 bhp Twin-Turbo 4.0 litre V8 We’ve speculated that the new Mercedes AMG GT – and, for that matter, futures ’63′ AMGs – will get a new twin-turbo V8 to provide the power as Mercedes look to move away from the naturally aspirated 6.2 litre V8 in cars like the SLS. And this is it. A new 4.0 litre twin-turbo V8 – the M178 engine – has been developed to replace the 6.2 litre V8 and, in initial tune, develops 503 bhp at 6250 rpm and 479lb/ft of torque from just 1750 rpm.

McLaren talks P13 Porsche 911 fighter

McLaren will take a stab at Porsche and Ferrari’s bread and butter segment in the upcoming years. Autocar reports -- after talking with chief executive Mike Flewitt -- that the company is building the a car, codenamed P13, which could be revealed in time for next year’s Geneva Motor Show. Autocar says it will sit below the 12C and well below the freshly driven P1.

FCA issues warning on logbook loans

VULNERABLE people who use their car as security to take out a loan are finding themselves squeezed even harder financially and even threatened, the City regulator has found. The Financial Conduct Authority warned it will put firms offering logbook loans out of action if they do not "dramatically" improve their standards, after finding evidence of poor behaviour including little or no affordability checks being carried out and some applicants being encouraged to manipulate details of their income. It said lenders are failing to properly spell out exactly how expensive such debts will be, with the true cost often masked by an emphasis on "low" weekly repayments and key terms and conditions buried in small print.