Rebuilt 4.0 Amc Jeep Cherokee Laredo 0331 Cylinder Head on 2040-parts.com

Shelby raffles off last 50th-anniversary Cobra

Shelby is celebrating its 50th anniversary in style, first at the Detroit auto show with a few black-and-gold Shelby Mustangs, and now at the Barrett-Jackson auction in Arizona with the last example of the 50th-anniversary Shelby Cobra. The car won't be sold to the highest bidder though; it will be raffled. Tickets cost $25 apiece or five for $100.

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.

Senate passes 'cash-for-guzzlers' bill; Obama likely to sign

The U.S. Senate passed a scaled-back $1 billion cash-for-guzzlers bill and sent it to President Barack Obama for his expected signature. The 91-5 vote took place after 5 p.m.