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Porsche is developing a new four-cylinder engine set to power entry-level model

High-ranking officials at Porsche's Weissach research and development center in Germany have confirmed that engineering work is progressing on a four-cylinder horizontally opposed gasoline engine, details of which were first revealed by Autoweek earlier this year. The new boxer unit--which is earmarked to power a new mid-engine, entry-level model that insiders describe as a spiritual successor to the iconic 550 Spyder--looks set to become an integral part of Porsche's future model plans. Insiders suggest it will also be offered on the third-generation Boxster and the second-generation Cayman later on in their respective model cycles.

Kia Proceed GT (2013) first specs of Kia's warm hatch

Here are the first official specifications of Kia's warm hatch, plus a new sketch: the Proceed GT. Following on from last week's sketch, Kia has confirmed the car will get over 200bhp, and boast a 7.9sec 0-62mph time. Kia Proceed GT: the new details With 201bhp, the Proceed GT sits a rung below the Focus ST and Vauxhall Astra VXR on the hot hatch ladder.

One lap of the Web: Ponycar birthdays, forgotten Hungarian racetracks and an Acura NSX

Chevy took some time this week to say happy birthday to its archrival, the Ford Mustang. The bowtie brand said that "healthy competition" between the Camaro and Mustang has been a "driving force for constant improvement." Check it out over at World Car Fans. Petrolicious has a handful of photos from a nearly forgotten track in Budapest, Hungary.