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Bugatti Veyron Grand Sport Vitesse world speed record: Video

We hoped that tease might be for something really interesting and new – perhaps the much rumoured 1600bhp Veyron or even the Galibier –  but it was simply a new world record for an open-topped production car. Impressive, of course, but just more of what we expect from Bugatti, rather than something new and innovative. The new world record for the Vitesse was set at the VW facility at Ehra-Lessien where Chinese driver Anthony Liu took the Veyron Grand Sport Vitesse to 254mph, creating a new world record for an open-topped production car and, more importantly for Bugatti, an excuse to produce a limited run of the Veyron Grand Sport Vitesse WRC Edition with a black and orange paint job for €1.99 million each.

Peugeot 308 hits almost 100mpg

Peugeot Peugeot has proved that three-figure fuel economy figures for petrol engines might not be too far from becoming a reality, as its new 308 has set what it claims is a record of 99.1mpg. The 2014 European Car of the Year, powered by a 1.2-litre turbocharged petrol Puretech engine, covered 1,124.7 miles on just one tank of fuel when tested on a track in Spain. Top 10 most economical carsPeugeot 308 review (2013 onwards) In doing so, it took more than 32 hours of driving to consume the 51.4-litre contents of its fuel tank.

Mandelson to announce help for car makers

Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.