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Saleen Performance to end S302 Ford Mustang production, prepares to expand

If ordering a Saleen S302 Ford Mustang is on your wish list, the time to do it is now. Revstone Industries, owner of Saleen Performance Vehicles, said on Wednesday that it will stop taking orders for the car in May and will finish building Saleen Mustangs in suburban Detroit by the fall. But the Lexington, Ky.-based company is not getting out of the performance parts and merchandise businesses and isn't abandoning the vehicle-upfitting field, spokesman Pete Borum said.

Jaguar XJ220: 20th Anniversary pictures and video

It was 20 years ago today...the Jaguar XJ220 hits 20 Jaguar’s only real supercar – the Jaguar XJ220 – is 20 years old, and to celebrate Jaguar has released a new set of photos. And we have original XJ220 video. When sports car makers – like Ferrari and Porsche  - were delivering the world supercars like the F40 and 959 in the eighties, Jaguar had nothing to compete despite as noble a racing history.

Karmann files for insolvency

Karmann, the century-old German coachbuilder synonymous with cabrios and the famous 1950s Karmann Ghia, has filed for insolvency. The company made the move Wednesday in Germany in response to a dramatic decline in revenue, an inability to pay for its massive layoff plan and the worldwide economic crisis. The North American operations, which make convertible tops for Detroit car companies and Volkswagen, are not affected, a spokesman said.