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There's still hope for U.S. buyers who want a Lexus LFA

Still dreaming of buying a Lexus LFA supercar? There's hope. Despite earlier saying that all 500 copies of the LFA were spoken for, Toyota Motor Sales U.S.A.

Toyota smashes electric car lap record at Nurburgring

Toyota has set a new electric car record at the Nurburgring – with a silent but speedy 7min 47.794sec lap of the Nordschleife. You can watch the record lap in our video above. Ring specialist Jochen Krumbach was at the wheel of the Toyota Motorsport EV P001 racer, obliterating Peugeot's previous 9min 1.338sec record in the EX1 concept car.

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.