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Caterham sells F1 team

Caterham The Caterham Formula 1 team has been sold to a consortium of Swiss and Middle-Eastern investors following a poor season so far in 2014. Rumours that Caterham would cut its losses have been rife, since team founder Tony Fernandes threatened to quit if things didn't improve this year. The team is currently bottom in the championship and Fernandes hinted of an exit last week, when he tweeted “F1 hasn't worked, but love Caterham Cars.” Graham Macdonald, Caterham Group CEO: “Firstly I want to thank everyone who was involved in the F1 team for all their hard work and dedication since the team’s first days in 2009.

Porsche 918 Spyder to get 875bhp to take on McLaren P1 & LaFerrari

The Porche 918 Spyder – Porsche’s hybrid supercar – is to get a power boost and go on a diet to better compete with the McLaren P1 and LaFerrari. But the duo of hybrid supercars at Geneva will become a trio at the Frankfurt Motor Show in September when the Porsche 918 Spyder gets revealed in final production form before heading for a select group of customers in 2014. It does seem to have taken Porsche quite a while to get the 918 Spyder in production-ready guise  but it seems they may have been waiting to see what McLaren and Ferrari had up their collective sleeves before settling on a production specification for the 918 Spyder.

Chevrolet Corvette Stingray costs £61,495

The new Chevrolet Corvette Stingray will cost £61.5k in the UK The 2014 MY Corvette Stingray arrived at the Detroit Motor Show in January, and now it’s arriving in the UK. The new Stingray comes with a 6.2 litre LT1 V8 offering a modest (for its size) 455bhp and 460ln/ft of torque, enough to get the Stingray to 60mph in under 4 seconds and, say Chevy, still offer ‘improved’ economy over the old model. In the real world, though, that probably means under 20mpg.