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GM preps for new engines, 8-speed transmission

General Motors is spending $332 million to upgrade powertrain plants in three states to build a new eight-speed automatic transmission, a new V6 and a new family of small-displacement gasoline engines. The plants are in Indiana, Michigan and Ohio. GM is also adding $46 million to an earlier $600 million program to upgrade powertrain plants in Saginaw and Romulus, Mich.

Porsche: Plans for new small Roadster dropped

Porsche boss confirms no 21st century Porsche 550 will be built Porsche has finally dropped plans for a new small roadster to sit below the Boxster and based on VW’s BlueSport. The idea of a smaller Porsche to sit below the Boxster has been floating around for what seems like forever. But it seems like the idea has finally been put out to grass by Porsche boss Matthias Mueller.

'Mr. Bean' actor crashes his McLaren F1

British actor Rowan Atkinson, best recognized as "Mr. Bean," crashed his McLaren F1 supercar on Thursday just north of London. Reports say Atkinson was driving his F1--one of the world's fastest road cars--about 85 miles outside London when the incident occurred.