04 Polaris Virage 800 I Exhaust Manifold, Y Pipe, Header on 2040-parts.com

Jay Leno gives us the lowdown on his McLaren P1 (video)

Jay Leno drives his new McLaren P1 Jay Leno has no shortage of cars to play with in his collection, but if this video of Jay and his new McLaren P1 is anything to go by, the P1 is his favourite car by far (at least for now). Jay meets up with McLaren CEO Mike Flewitt at his garage and there’s plenty of chat about what makes the P1 special, and how it compares to the legendary McLaren F1 (a car Jay also owns). Then it’s time for a drive out in the P1, first with Mike Flewitt as a passenger and then with Jay on his own as he takes the P1 round the winding roads near his home, and Jay reveals that he put nearly 900 miles on the clock in the first five days he had the P1.

Toyota recalls Highlander and Lexus hybrids, IS and GS sedans

Toyota announced two recalls on Wednesday that include 369,000 vehicles worldwide, 235,000 of which are in the United States. The hybrids have a problem with a transistor, while the 3.5-liter V6 is having problems with its variable valve timing control device. The first recall includes Highlander Hybrid models from 2006-2010 and the Lexus RX 400h from 2006-2008.

Sergio Marchionne warns of strife ahead in Europe

Fiat chief exec Sergio Marchionne today warned of troubled waters ahead as Europe's car makers prepare for a radical restructuring. Marchionne, who's the current president of trade body ACEA, said factory closures were looming and repeated his call for a concerted EU-wide response to overcapacity. He warned that national interest was blocking action to strip out excess capacity, caused after European new car demand crashed by 3 million in the past five years.