1986-88 Buick Skyhawk 13" Hubcap Wheel Cover on 2040-parts.com

Hybrid Porsche 911, Cayenne Coupe, turbo four and more coming soon

Fiat Chrysler Automobiles outlined its plans for the next five years on Tuesday. Not to be outdone, Porsche revealed some interesting tidbits about the next three years on Thursday. To start: Porsche will produce several 700-hp hybrid versions of its Panamera sedan and stalwart 911.

Watch: Ford Fiesta Rallycross car showcased in Detroit

The Ford Fiesta ST and the streets of Detroit and Belle Isle are the stars of this promotional video released on June 26 by Ford Racing to help promote the ongoing bid of organizers who are hoping to lure the X Games to the Motor City in 2014. Detroit is one of four finalists for the 2014 X Games, along with Austin, Texas; Charlotte, N.C., and Chicago. An announcement is expected late this summer as to which of the three cities will be awarded the three-year run of Summer X Games.

GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).