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The Hongqi L5 is the most expensive Chinese car you can buy

China's oldest car company rolled out its first vehicle on Aug. 1, 1958; it was a chrome-lined black sedan designed -- like the pastiche of 1950s cars it resembled, including the Packard-esque Chaika -- to strike equal amounts of fear and inspiration into the revolutionaries. In Chinese, "Hongqi" in means "red flag," the most potent symbol of the Chinese Communist Party, making it a fitting name for a company that supplied the apparatchik.

Gran Turismo 5 features Newey's dream car

WITH VIDEO -- Red Bull Racing's X1 Prototype, designed by Adrian Newey and tested by Formula One driver Sebastian Vettel, will be included in the Gran Turismo 5 video game set to go on sale in November. When creating Gran Turismo 5, the Polyphony Digital design team wanted an ultimate car, one not limited by the rules. "Every race in the world today conforms to some sort of regulations, and every racing car is built to fit within those various regulations," said Kazunori Yamauchi, president of Polyphony Digital Inc.

GM returning to leasing with luxury vehicles

General Motors will return to the leasing business focusing on luxury vehicles, but not on a broader basis, Vice Chairman Bob Lutz said. "We will get back into leasing, but we are not going to use massive subsidized leasing to drive volume because it's volume without profitability," Lutz said July 29 in an interview with Automotive News. "We'd rather sell less at higher profit than sell more at lower profit." Lutz said it still would make sense for GM to do more leasing on its luxury vehicles.