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One Lap of the Web: a 12-year-old with three Ferraris, burning Porsches and old futuristic cars

We spend a lot of time on the Internet -- pretty much whenever we're not driving, writing about or working on cars. Since there's more out there than we'd ever be able to cover, here's our daily digest of car stuff on the Web you may not otherwise have heard about. -- Meet a 12-year-old kid who owns three Ferraris.

Driven: Kia Picanto

The first-generation Kia Picanto was one of the cars that helped promote Kia from the lower half of the second-division to somewhere near the playoff places. Its combination of great value, five-door practicality and vaguely cutesy - if thoroughly unremarkable - design found it many a home on the driveway of those looking for an A-segment hatchback. The second-generation model is playing a rather tougher ballgame.

Spyker signs deal with China's Hawtai Motor to raise funds for Saab

Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.