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BMW reveals ferocious new M3 and M4

IF YOU’RE no fan of Top Gear-style wheel-spinning, tyre-smoking oversteer, then it’s probably best to look away now, because BMW has unveiled the new M3 and M4. Essentially the same car underneath, the main differences come in the number of doors and the suspension settings, with the M3 built as a four-door, slightly more forgiving saloon and the M4 as a harder-edged two-door coupe. But both will go very sideways, if that’s the sort of thing that revs your engine, thanks to a shared 425bhp six-cylinder engine that sends all that juicy power to the rear wheels.

UAW: GM, Chrysler may not need additional federal funds

UAW President Ron Gettelfinger said today that General Motors and Chrysler LLC may not need additional federal loans beyond the $17.4 billion approved by the White House. "If we can get by without more money, that's what we want to do," Gettelfinger told Automotive News in an interview at Solidarity House in Detroit. He said how well the money holds out will depend on sales volume this year.

Honda cancels V8 program, S2000 and CR-Z convertible, report says

Fun appears to be on the chopping block at Honda. Plans for the successor to the S2000 sports car, a lineup of rear-drive Acuras, a proposed V8 engine and a drop-top built off the CR-Z hybrid are all dead, according to a report in a British magazine. The reason: Honda is rethinking its product plans as it grapples with the global downturn in sales and economic conditions, Autocar is reporting.