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Porsche 918 Spyder (2013) at Frankfurt motor show

This is the new Porsche 918 Spyder, and it’s just been unveiled on the eve of the 2013 Frankfurt motor show. The Porsche 918 Spyder is the successor to the legendary Carrera GT, uses a race-derived engine, hits 62mph in 2.8 seconds, and will reach 214mph. But the Porsche 918 Spyder is also very different to the Carrera GT, because it’s a hybrid and promises Toyota Prius-like levels of parsimony.

Bugatti’s 254mph Veyron Vitesse officially world’s fastest drop-top

The Bugatti Grand Sport Vitesse has been officially confirmed as the world’s fastest open-top production car, having been clocked at 254.04mph. The milestone will be celebrated (naturally) with a limited run of special ‘World Record Edition’ Grand Sport Vitesses (which has been on sale since January 2012), with the commemorative cars sporting orange flashes to the carbonfibre bodywork, and orange wheels. Bugatti Veyron Grand Sport Vitesse: a 250mph wind in your hair Bugatti admits that the initial open-top speed target for the Bugatti Grand Sport was a piffling 233mph.

GM posts wider loss, burns through $5.2 billion in cash

General Motors, battered by a global economic collapse and buoyed by U.S. rescue loans, posted its sixth straight quarterly loss and burned through $5.2 billion in cash as revenue shrank by more than a third. The net loss of $9.6 billion in the fourth quarter compares with a loss of $1.5 billion a year earlier.