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Callaway's Supercharged Corvette Stingray packs 610-hp

Callaway has debuted their supercharged version of the Chevrolet Corvette dubbed SC610, which should provide an intriguing alternative to the the 2015 Corvette Z06. SC of course stands for supercharged, with 610 being the horsepower figure. That's right, Callaway has squeezed out an extra 155-hp and 96 lb-ft of torque out of the naturally aspirated 6.2-liter V8 powering the C7 Corvette, for a total of 610-hp and 55 lb-ft of torque.

Crunch watch Mar 09: the auto industry in crisis

By Ben Pulman and Tim Pollard Motor Industry 31 March 2009 13:48 Tuesday 31 March 2009• Porsche said that its earnings before tax rose to €7.3 billion in the six months to the end of January – including a €6.8bn windfall from its VW share options (Financial Times)• Fritz Henderson, GM's president and chief operating officer, will step up to replace Rick Wagoner, who was ousted on Sunday as CEO of General Motors (Financial Times)• President Obama is essentially CEO-in-chief of GM – despite not owning a single cent of stock, says Detroit News commentator (Detroit News)• German chancellor Angela Merkel gives assurances that any would-be investors in GM's European arm will be given state support. Opel is asking for €3.3 billion in aid – and up to 25,000 jobs in Germany depend on it, with up to 300,000 jobs across Europe including Saab and Vauxhall (BBC News)Monday 30 March 2009• General Motors' chief executive Rick Wagoner has been ordered to resign by US president Barack Obama with immediate effect. It's part of Obama's administration's critique of GM and Chrysler's turnaround plans – he's understood to be unhappy with the plans submitted (BBC News)• New GM non-executive chairman Kent Kresa has admitted that at the company's next general meeting it will have 'a majority of new directors' (General Motors)• Chrysler will receive US government aid for the next 30 days, but the Obama administration has said that if the company cannot secure a tie-up with the Fiat Group within that time period it will not receive any more money from the taxpayers and could go into liquidation.

DRB-Hicom reject offer for Lotus

DBR-Hicom – owners of Proton and Lotus – have rejected an offer for Lotus and are intent on nursing it back to health. The rumours surrounding the fate of Lotus - especially after the Dany Bahar saga – have been rumbling around the car world for a long time. Will DRB-Hicom – who bought Proton, owners of Lotus, in 2011 – cut and run, or will they see Lotus as a possible jewel in their crown to be nursed back to health?