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2013 Ford Mustang Shelby GT500 to start at $54,995

The muscle-car hammer known as the 2013 Ford Mustang Shelby GT500 will start at $54,995 for the coupe and $59,995 the convertible. Both prices include the $795 destination charge. The 200-mph pony car from the Blue Oval comes with a 650-hp, 5.8-liter supercharged V8 and a manual transmission standard.

Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.

400hp Volkswagen Golf R 400 pays tribute to Golf Rallye

Volkswagen clearly knows us too well. In its press release to accompany the world premiere of the Volkswagen Golf R 400, the Germany company references not one, but two performance heroes from yesterday. “Flared wings are a tribute to the legendary Rallye Golf G60”, it says.