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Ferrari GT teaser photos

By Ben Pulman First Official Pictures 12 May 2008 10:11 These are the first pictures of Ferrari's new GT, taken from the Italian firm’s teaser website www.ferrarigtcountdown.com. The car won't be shown until the Paris motor show this autumn, but you don't need to wait that long in this internet age – Ferrari is gradually revealing its new baby bit by bit online over the next few months. The five teaser pictures reveal a wide, low, oval front grille, distinctive creases around the door handles, five-spoke alloys, a third rear brake light and a sloping rear end.The official website also has four audio clips of the new Ferrari starting up, revving, running through the gears and then being driven hard.

Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.

Motorcycle makers revved for rebound

Bikes are back. After being hit a lot harder by the recession than carmakers, the motorcycle industry, more susceptible to the whims of discretionary spending, is on its way back. “Unit sales are growing for the first time in several years,” said Danny Phillips, executive vice president of Advanstar, the parent company of Progressive International, which put on last weekend's motorcycle show at the Long Beach Convention Center.