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New Porsche 911 Turbo gets a bigger engine and cranks out 500 hp

There are plenty of good reasons to go to the Frankfurt motor show in September, but this seals the deal--Porsche will use the show for the rollout of the new 911 Turbo in coupe and convertible versions. Porsche on Friday gave us photos and details on the newest 911. Here are the high points: -- New 3.8-liter flat-six engine rated at 500 hp.

Mandelson to announce help for car makers

Lord Mandelson is the man charged with finding ways to fund UK Car purchases (yes, he of the dodgy mortgage debacle – at least he should know a few tricks!) as the credit crunch has dried up funding, leading to an unprecedented drop in new car sales in the UK. Mandelson is due to make a statement in the Lords just after 3pm today, outlining the help the government is going to offer to ailing car makers. Central to this package is expected to be a funding channel directly from the Bank of England to inject liquidity in to the car financing sector.

Classic car prices on the up: Jaguar D-type sells for £3 million

Classic car prices seem to be ever-rising, with historic models becoming an investment to rival buying property or gambling on the stock market. The inaugural RM Auctions Paris sale this week was a case in point, and resulted in nearly £15 million’s worth of the world’s rarest and most exotic cars going under the hammer. Four cars alone went for in excess of £1 million, and a Jaguar D-type sold for three times that amount.