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Galpin Auto Sports Reveals 1000-hp GTR1

As you read this, Beau Boeckmann of Galpin Auto Sports should be pulling the cover off the GTR1, a 1000-hp supercar based on the Ford GT. Right about now the 3000 guests of The Quail should be oohing and ahhing at the car's Aston Martin “lightning silver” paint and subtly muscled haunches, probably hearing about how G.A.S. swapped out the supercharger on the 5.4-liter V8 and replaced it with twin 61-mm turbochargers making almost double the horsepower of the stock car.

Ford begins the search for CEO replacement, report says

Ford Motor Co. has launched a wide search for candidates to succeed CEO Alan Mulally, and the list of possible replacements includes two current and two former executives, The Wall Street Journal reported. Mulally, 66, joined Ford as president and CEO in September 2006 from Boeing Co.

Porsche says Panamera avoids gas-guzzler tax

Few expenses were spared in conceiving the Porsche Panamera, but consumers will avoid at least one cost of ownership: the ignominious gas-guzzler tax. Porsche has announced ratings for the 2010 sedan; it will get a combined figure of 18 mpg or 19 mpg from the EPA, depending on the model. This means Porsche’s four-door foray will avoid a fairly substantial cost of ownership--a tax of up to $7,700 is levied on the most prolific guzzlers.