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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.

Chrysler first-quarter profits down

Chrysler Group said net income fell to $166 million in the first quarter as costs of two large product launches crimped the automaker's seventh consecutive quarterly profit. Profit fell 65 percent from the $473 million posted during the same quarter of 2012, Chrysler said in a statement today. First-quarter revenues dropped 6 percent to $15.4 billion.

Official: Renault & Caterham to build Alpine sports cars

Renault has confirmed it is to partner with Caterham to build a range of Alpine sports cars in Dieppe from 2015. The partnership between Renault and Caterham is a logical extension of their F1 partnership but now, with the joint venture to produce their own sports cars, goes much deeper than the almost badge-engineering Williams Renaults. A new company - Société des Automobiles Alpine Caterham – will be jointly owned by Caterham and Renault and will develop models in small and large volumes to be marketed as both Renault Alpine and Caterham, and will be built in Renault’s Dieppe factory that currently churns out Renaultsport models for the road and track, and is the historical home of Alpine.