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Ferrari 250 Testa Rossa set for Monterey auction

A 1958 Ferrari 250 “Pontoon Fender” Testa Rossa will be featured in August at RM Auctions' 25th Sports & Classics of Monterey event. The Scaglietti-designed race car, serial number 0738 TR, is expected be one of the most valuable cars ever offered during Monterey's auction week. “RM set the current world-record price for a car sold at auction with another pontoon-fender TR selling for $12.4 million,” said Rob Myers, chairman and CEO of RM Auctions.

GM returns to the Super Bowl, new ads upcoming for the Camaro and Cadillac

If there's one thing Joel Ewanick has made clear since joining General Motors Co. three months ago, it's that he doesn't let grass grow under his feet. And the company's vice president of marketing isn't slowing down anytime soon: In a wide-ranging interview with Advertising Age, an affiliate of AutoWeek, Ewanick let drop that the automaker will return to the Super Bowl in 2011; that an ad campaign will break next month for the Chevy Camaro; and that there's a new tagline coming for Cadillac, "The new standard for the world." "We have so many projects in the works right now," he said.

Mercedes AMG GT gets new 503 bhp Twin-Turbo 4.0 litre V8 (video)

The new Mercedes AMG GT (pictured) gets the new 503 bhp Twin-Turbo 4.0 litre V8 We’ve speculated that the new Mercedes AMG GT – and, for that matter, futures ’63′ AMGs – will get a new twin-turbo V8 to provide the power as Mercedes look to move away from the naturally aspirated 6.2 litre V8 in cars like the SLS. And this is it. A new 4.0 litre twin-turbo V8 – the M178 engine – has been developed to replace the 6.2 litre V8 and, in initial tune, develops 503 bhp at 6250 rpm and 479lb/ft of torque from just 1750 rpm.