Toyota, the world’s largest automaker, is pulling out of Formula One racing to focus on its core business.

The decision comes a day before the Japanese manufacturer is expected to announce its worst ever financial results.

“Based on the current economic environment, we realize we have no choice but to withdraw from Formula One,” said Toyota president Akio Toyoda at a news conference. “This has been a very painful decision for the company.”

Since entering the F1 racing in 2002, Toyota has earned 13 podium finishes but no wins.

Toyota follows Honda and BMW in pulling out of F1. Earlier this week, tire manufacturer Bridgestone also announced it will cease being the series’ sole tire provider following the 2010 season. Toyota’s decision also comes three weeks after the end of an engine supply partnership with Williams F1, a move requested by Williams.

Toyota’s withdrawal opens a spot for the BMW-less Sauber team which was given a “reserved” spot in September, for such a contingency.

[Source: CNN, Formula 1]

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Inspired by Chevy’s highest performance vehicle, the Corvette ZR1, the Silverado ZR2 concept gets plenty of high performance options, like a supercharged LS motor and plenty of carbon fiber. Unveiled at the SEMA Show, this extended cab/short box truck also boasts a massive new front grille, carbon fiber fender flares, a four-inch suspension lift, a BDS shock set, 20-inch wheels and a set of 35-inch Goodyear Wrangler off-road tires.

Carbon fiber was also used for the hood, front fenders, rocker extensions and the tailgate, and is easily visible thanks to a clearcoat. Other body components are painted Dune Metallic, to help the trunk blend in when hopping sand dunes on the Baja Peninsula.

Under the hood there’s a GM Performance Parts Supercharged LS engine that produces 550-hp!

Rumored to be a possible precursor to a Ford F-150 Raptor competitor, the folks at Chevy aren’t talking, but Chevy brand VP Brent Dewar has said that some of the trucks components are being explored for use on future models.

GALLERY: Chevrolet ZR2 Concept

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On display at the Nitto tires booth at the 2009 SEMA Show is a modern interpretation of the Pontiac Trans Am. Based on a 2010 Camaro, the car was designed and built by the Corvette and Chevy tuning experts at Lingenfelter. The car takes cues from the 1971 second-gen TA and so in order to stay faithful to that car Lingenfelter decided to equip it with a 445 cubic inch V8 engine. That engine, claims Lingenfelter, makes a whopping 655-hp!

The car will also sports a duck-tail spoiler, fender vents, a twin-port front grille, 20-inch honeycomb wheels and the obligatory screamin’ chicken (although it is rather small). There’s even a retro-styled interior with a blue dash and blue leather, stitched in bars on the seats – just like the old days.

Called the Lingenfeler LTA (Lingenfelter Trans Am) Concept the car is a one-off, but there is certain to be huge demand for the car – especially considering the popularity of the new Camaro – so a limited number of production models is a definite possibility.

GALLERY: 2010 Lingenfeler Trans Am Concept

Mopar always has a big display at the SEMA Show and 2009 is no different, with plenty of Mopar-modded Chrysler, Dodge and Jeep vehicles. One of, if not the, most impressive car on hand is the Dodge Challenger 1320. Named after the number of feet in a quarter mile, the 1320 is essentially a street-legal version of the company’s Drag Pak 1/4 mile racer.

Along with the stripped down body and interior, there’s a Mopar 426 cubic-inch, all-aluminum, HEMI V-8 crate engine under the hood with 556 horsepower and 540 ft-lbs of torque.

Other highlights include Mopar police wheels with street-legal Mickey Thompson drag radials, an adjustable coilover kit, six-speed manual transmission with a custom Dynatrac rear housing with Mopar Dana 60 internals, an ARB locking differential and an exhaust bypass system that keeps the car emissions legal on the street but re-routes the exhaust gases past the mufflers for the drag strip.

The car is painted in a non-metallic yellow paint (called Acidic Hue) with matte black graphics. There’s also a new hood, front splitter and new grille panel and headlight surround. As for the inside, there’s all sorts of good stuff, including Dodge Viper seats, a sport steering wheel and Hurst shifter. Much of the other interior amenities, like the center console and radio have been removed to reduce weight and help the Dodge Challenger 1320 deliver maximum performance.

Check out the gallery below for all the photos:

GALLERY: Dodge Challenger 1320

Dodge’s unveiled its custom Mopar Dodge Ram Bianco Image Vehicle at the SEMA Show today, possibly firing a warning shot at the Ford F-150 Platinum and letting he Blue Oval know that there may be competition in the luxury truck business. Ford’s F-150 Platinum caters more to ranch owners than ranch hands, and the Mopar Dodge Ram Bianco does the same.

Based on a Ram 1500 Sport with a 5.7-liter HEMI V8, the truck gets a slight boost in performance thanks to a Mopar cold air intake and dual exhaust system.

Modifications to the outside of the truck include a Mopar tonneau cover and fender flares, and a Mopar carpeted bedliner that is washable. There’s also a chromed grille to give the truck some extra bling. A Ground Force lowering kit gives the truck a more aggressive stance and better on-road manners with improved handling and less body roll. A set of massive 22-inch Mopar wheels and several coats of a special Arctic Ice pearl paint help complete the look.

Most importantly on such a luxury themed vehicle is the interior, which Mopar has outfitted with white and black Katzkin seats and matching door trim. The dual tone theme continues throughout the rest of the cabin with piano black and arctic ice accents. A Kicker audio system with a powerful subwoofer, amplifier and upgraded speakers help complete the package.

The whole idea might sound a bit silly to serious pickup drivers, but if there’s a market for it, this truck would most certainly sell.

Be sure to check out the full gallery below:

GALLERY: Mopar Dodge Ram Bianco

When we arrived at Kia’s SEMA Show booth, PR boss Alex Fedorak told us that we had guessed correctly – the big announcement, as we correctly surmised, was that Kia is going racing in 2010.

Kia will be racing in the Grand Am Koni Challenge series in a race prepped version of its Forte Koup, taking on competitors like the Honda Civic and BMW 328i. The company is expected to field a two car effort although just one vehicle has been confirmed. The announcement marks the first time Kia will go racing on U.S. soil.

Kinetic Motorsports built the car for Kia, using the same 2.4-liter 4-cylinder motor but tuned to around 220-hp.

Kinetic is no stranger to fielding successful race cars and so Kia also went looking for some seriously talented drivers and found them in Andy Lally and Nic Jönsson. Lally has been driving in the Grand-Am Rolex series and even won the 24 Hours of Daytona in the GT Class just last year. Lally also races in the NASCAR Nationwide Series, Craftsman Truck series, ARCA and Goodies Dash. Jönsson has numerous titles to his name with a long history in Grand-Am and ALMS.

“The Forte Koup is the latest chapter in the dramatic Kia brand transformation story, and the decision to enter into the motorsports arena was an easy one to make,” said Michael Sprague, VP of marketing at Kia Motors America.  “The Forte Koup’s performance-inspired styling and outstanding driving dynamics make it a natural fit for road racing, and competing in GRAND-AM’s KONI Challenge Series enables us to reach an entirely new and passionate base of automotive enthusiasts. We expect the Forte Koup to be a strong competitor in the GRAND-AM KONI Challenge Series starting with the first race in Daytona.

Kia is looking to build itself as a performance company and the Forte Koup as a performance car and plans to use this racing initiative to do just that. In speaking to some of the people involved in the Forte Koup race car build, we should expect to see Kia offer performance parts and accessories through its dealership network in the near future.

GALLERY: Kinetic Motorsports Kia Forte Koup

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Garnering more than just a few stares at the 2009 SEMA Show was the Lingenfelter 2010 Camaro. The car looks stunning with a complete aero kit including a more aggressive front and and a new hood.

And look more aggressive it should, with plenty of power on tap. Being Corvette experts, the team at Lingenfelter decided to toss the factory 6.2-liter V8 in favor of the Z06′s 505-hp 7.0-liter LS7 engine. But that’s not all. Also known for their expertise in forced induction, the boys at Lingenfelter have also strapped a supercharger to the big 427 to make no less than 750-hp.

The engine has even been built up to take all the extra boost with JE Pistons, titanium intake valves and Iconel exhaust valves – the same material used for making Formula One exhaust systems.

For the build Lingenfelter teamed up wit the suspension experts at Hotchkis for what they call a, “Total Vehicle System,” complete with springs, sway bars and a subframe brace – which is sure to be needed with 750-hp and (we imagine) an equal amount of torque. The shocks are a Lingenfelter/Sachs combo. On to of these addition, there’s a big set of Brembo bakes, big 20-inch Pirelli tires on LPE wheels and a pretty wild aero kit complete wit carbon fiber additions.

“Over the years we have been involved in dozens of OEM and racing development programs, but this one is special,” said Hotchkis Performance president John Hotchkis. “Lingenfelter builds some of the fastest, coolest and most refined domestic supercars in the world, and the fact that they asked us to help develop the suspension for a 200 mph Camaro and then offered to debut the car in our booth is very exciting. Everyone in attendance will certainly be impressed with this stunning piece of high-performance engineering.”

Hotchkis will also offer the springs, sway bars and a subframe brace individually or as a package.

GALLERY: Lingenfelter Camaro

Along with a selection of new vehicles outfitted with the company’s factory accessories, Honda also has on display a selection of vehicles highlighting the company’s successful past on the road and in motorsports. Included in that lineup are three particularly old school vehicles, including a 1974 Civic, an ’84 CRX and a ’71 N600.

The N600 was the first vehicle Honda sold in the U.S. and featured a 598cc 2-cylinder engine. It made 36-hp at 6000 rpm but could rev all the way to 9000 rpm.

Sitting next to the N600 is a 1974 Honda Civic 1200 that was used as an SCCA race car. It was driven by Honda district sales representative Bob Boileau Jr. in the SCCA GT5 class and won six championships between 1985 and 1990. It also once held the title as the World’s Fastest Civic, having hit 146.698 mph at Talladega Superspeedway in 1976.

Rounding out the trio is a 1984 Honda CRX Mugen Prototype with all sorts of Mugen goodies like a Mugen 4-2-1 exhaust manifold, Mugen camshaft, Mugen dampers and wheels and a Mugen clutch-type limited slip differential.

GALLERY: Classic Honda Race Cars

General Motors has decided to keep it’s European operations after all. GM has announced that due to the improved economy and improvements in the company’s bottom line, it will not sell off Opel and British automaker Vauxhall.

General Motors had been negotiating to sell the group to a Russian-backed group fronted by Canadian autoparts maker Magna International.

“GM’s overall financial health and stability have improved significantly over the past few months, giving us the confidence that the Euroean business can be successfully restructured,” said CEO Fritz Henderson.

GM’s initial plan is to begin a $4.43 billion restructuring effort and says it will work with European labor unions to make it happen. It is not clear if the European Union’s efforts to block the sale to the Canadian held Magna, over a Belgian group had anything to do with the decision. Initially the Magna deal was preferred by the German government as the Candian company agreed to keep most of Opel’s work force in Germany, in exchange for a secured loan. No doubt GM will still be looking for a similar sized loan now.

GM made the decision contrary to its viability plan that was agreed upon wit the U.S. government, stating that Opel is outperforming the assumptions made in that plan.

“This was deemed to be the most stable and least costly approach for securing Opel/Vauxhall’s long-term future,” said Henderson.

[Source: Automotive News]

Honda used the Specialty Equipment Manufacturers Association (SEMA) Show to announce the introduction of a new line of Mugen Accessories for the 2010 Accord. Mugen has long been known as a performance parts company, building special edition cars for Honda as well as assisting in the company’s motorsports programs.

The list of Mugen parts for the Accord include: 18-inch wheels, a new front grille and front lip spoiler, side skirts, a rear bumper valance, as well as floor mats, a machined aluminum oil ca and a special front emblem. The parts will be available through authorized Honda dealers and all body panels will come pre-painted in one of five Accord factor colors: Polished Metal Metallic, Crystal Black Pearl, Alabaster Silver Metallic, White Diamond Pearl and Taffeta White.

“With a growing accessory lineup, now including Mugen kits for the Accord sedan and Fit, Honda is committed to supporting personalization of our vehicles into the future,” said Bruce Smith, VP of Parts Operations for American Honda Motor Co.

The complete lineup of Mugen Accessories for the 2010 Accord will be available starting November 11th.

GALLERY: 2010 Honda Accord with Mugen Accessories