Vintage Large Airguide Illuminated Marine Compass on 2040-parts.com

Mazda MX-5 with 270hp launched by BBR

The MX-5 has always lacked one thing: power. But now, British tuner BBR is launching a turbocharged MX-5 that produces 270hp and is capable of reaching 60mph in less than 5 seconds. Based on a 2013 Mazda MX-5 2.0-litre Sport Tech Roadster Coupe, the BBR GT270 will reach 60mph in 4.9 seconds and hit an electronically limited top speed of 150mph.

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Crunch watch July 09: the auto industry in crisis

By Tim Pollard, Ben Pulman, Ben Whitworth and Alex Michaelides Motor Industry 31 July 2009 11:23 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Friday 31 July 2009• Lamborghini today posted pre-tax profits of €5.4 million – despite a sales drop of 37% in the first six months of 2009. Sant'Agata said turnover hit €156.9m in the first half (down 43%) as it sold 825 cars globally (Lamborghini)• British motorists could have to pay £250 in tax to park at work from 2012.