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GM prepares to announce Pontiac closure next week

General Motors is preparing to announce early next week that the Pontiac brand will be eliminated, said a source familiar with the company's plans. The announcement will be made as part of an updated viability report to the U.S. auto task force, the source said.

Audi debuts A8 Exclusive Concept special edition

Perhaps feeling the pressure from other luxury automakers and the debut of a number of special edition executive sedans, Audi has announced a limited run of 50 examples of its 6.3-liter 500-hp W12-engined A8L flagship. Dubbed the A8 Audi exclusive concept, the long-wheelbase executive yacht will feature a leather interior from Italian designer furniture maker Poltrona Frau. The A8 Audi exclusive concept will feature aniline leather in the color of Agatha Cognac, which is said to be very soft, and the center sections of the seats will have diamond quilting.

Hennessey Venom GT sets new 270mph world speed record

The Hennessey Venom GT has set a new world speed record for a two-seat sports car, hitting an official top speed of 270.49mph. Carried out on the 3.2-mile Space Shuttle landing strip at the Kennedy Space Center in Florida, USA, the Venom GT eclipsed the former fastest car in the world’s record, the 267.86mph Bugatti Veyron Super Sport. On Bing: see pictures of the Hennessey Venom GTHennessey Venom GT reaches 265.7mph top speed It’s not the first time the Lotus Exige-based sports car has tried to take the French marque’s crown, with previous tests getting oh-so-close to beating the Bugatti.