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UPDATED: 2014 Chevrolet Corvette LT1 V8 to make 460 hp, 465 lb-ft

UPDATED 5/28/2013: Chevrolet has officially rated the 2014 Corvette Stingray LT1 V8 at 460 hp at 6,000 rpm and 465 lb-ft of torque at 4,000 rpm. Chevy claims up to 316 lb-ft of torque is available starting at 1,000 rpm. Check out complete LT1 details below, and look for an upcoming breakdown of the latest LT1.

BMW DesignworksUSA heads to China

In light of its growth within China, BMW plans to open a DesignworksUSA studio in the country. Building on its studio portfolio of Los Angeles, Munich and Singapore, the Shanghai studio will be added to the repertoire in the second half of 2011. The DesignworksUSA project acts as a 'think-tank' for all of BMW's brands, as well as creating design for clients from diverse industries.

Don't get caught on car hire 'slippery slope'

'DO IT YOURSELF' holidays are generally seen as a cheaper version of what can be steeply priced and inflexible package deals, particularly in the notoriously expensive ski market. But experts are warning that skiers who make their own way to the slopes this winter, instead of buying a package with transfers included, could be hit by hefty charges for car hire at the airport. According to iCarhireinsurance.com, a specialist insurer, some skiers hiring cars for New Year breaks could pay for their hire car twice over because of added 'extras'.