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BMW 5-series GT gets a new six-cylinder mix

After a sluggish first few months for the 5-series GT crossover, BMW executives admit they may have missed the model mix. At launch, the 550 GT was available only with rear-wheel drive and a V-8 engine. That will change with the introduction of an all-wheel-drive model in June and a six-cylinder engine in the fall.

McLaren confirms limited run of 12C GT Can-Am racers

It's been a busy weekend for McLaren: not only did Lewis win the 2012 US grand prix, but the car-making division confirmed it would build the most powerful MP4-12C yet – the new 12C GT Can-Am Edition. It's the track-focused 12C racer and Woking has sanctioned a limited run 'of no more than 30 examples.' McLaren MP4-12C Can-Am: the background It's a maxxed-up version of the MP4-12C road car, which has so impressed us since launch. Here the 3.8-litre V8 bi-turbo is derestricted and boasts a maximum power output of 621bhp.

Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.