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Click above for high-res gallery of the Corvette ZR1 at Barrett-JacksonThe very first Corvette ZR1 has rolled off the assembly line at General Motors' assembly plant in Bowling Green, Kentucky, and the proud owner of the 638-horsepower hellraiser was there in person to claim his prize. Chevy dealer ......

We got our first look at Shelby's 85th Commemorative GT40 back in January at the Barrett-Jackson auction in Scottsdale. It's as close as you can get to the real thing without spending millions on an original GT40 with the chassis and body nearly perfectly replicating the original. Shelby Distributio......

Click above for a high-res gallery of the 1964 Pontiac BansheeThe very cool 1964 Pontiac Banshee prototype is being auctioned off, again. Back in November of last year, the super-cool and svelte vehicle was put up on eBay with a Buy-It-Now price of $1.3 million. It didn't sell, so it's back up... wi......

We're saddened to announce the passing of Louis A. Perunko, Jr., known to racing fans as Lou Palmer, who passed away this past Saturday, January 19, 2008 at the age of 75.Palmer was born in Wheeling, West Virginia, and was raised in Syracuse, New York. He moved to Indianapolis in 1953 and began anno......

Click the photo for a high-res gallery of Graham Rahal's donutsSome of the loudest action at the Consumer Electronics Show in Las Vegas today was actually out in the parking lot. For fans of Formula One, the BMW Pit Lane park in the Gold Lot outside the Convention Center is as close as many will ge......

With plans on the drawing board to potentially move the defunct USGP from Indianapolis to Las Vegas, BMW is ostensibly testing the waters by staging one of its popular Pit Lane Park demonstrations in Sin City this coming January.BMW stages the public demonstrations at various grands prix and events ......

GM has announced that it has completed the sale of its Allison Transmission business. The commercial and military transmission part of the company was sold to The Carlyle Group and Onex Corporation for about $5.6 billion. That should keep them in the black for a bit longer. The sale includes the sev......

Several big (albeit anticipated) changes were made to the Formula One calendar for 2008, which was released by the FIA yesterday.The F1 circus will make two new stops at the new circuit in Singapore and at the Valencia track in Spain, previously used primarily for testing. Singapore will slot in rig......

It looks like there won't be any United States Grand Prix (USGP) next year, at least not at Indy. According to all of the reports we've read, the 2008 Formula One schedule won't have a slot for a United States Grand Prix at the Indianapolis Motor Speedway. After eight years of races at the Speedway,......

General Motors announced earlier this morning that it has agreed to sell Allison Transmission to two private equity firms. The Carlyle Group and Onex Corp. will purchase both the commercial and military ends of Allison, all for the bargain price of $5.6 billion.The plan is to sell of the firm's seve......