1962 Corvette C1-RS is a worthy Goodguys Street Machine of the Year

1962 Chevrolet Corvette C1-RS - Click above for a high-res image gallery

It takes a lot to win the the Goodguys Street Machine of the Year award, but this custom 1962 Corvette convertible you see here easily deserves the honor. The car not only looks incredible, but it posted the fastest time at the Goodguys autocross track as well! Every single one of the body panels on the car has been modified, and the majority of the components are constructed either of aluminum or carbon fiber.

Powering the C1-RS is an LS7 V8 putting out more than 600 horsepower, but we were most impressed with the eight carbon fiber intake trumpets on either side of the engine that bring air into the intake manifold. The interior was beautifully crafted as well, with a custom fabricated aluminum dash and console and Alcantara and leather seats. Check out the high-res gallery below to see all the details yourself, or follow the jump to read more about the car.

1962 Chevrolet Corvette C1-RS

• 
• 
• 
• 
• 
• 
• 
• 

Toyota execs deny cover-up after feds rebuke automaker over runaway car investigation

Remember Toyota's massive 3.8 million unit unintended acceleration recall that was attributed to pesky floor mats? It appears defective floor mats doesn't tell the whole story, as the Department of Transportation and the National Highway Traffic Safety Administration declared in a statement that "this (unintended acceleration) matter is not closed," adding "removal of the floor mats is simply an interim measure, not a remedy of the underlying defect in the vehicles."

Up to 2,000 Toyota customers claim to have experienced a sudden surge of acceleration, and some reportedly told ABC News that they didn't even have the recalled floor mats in their vehicles. Even more disturbing are the results of an ABC News investigation that reportedly found "hundreds" of accidents and up to 16 deaths as a result of unintended acceleration.

Four of those deaths occurred in August when an off-duty California Highway Patrol Officer, traveling with his wife, daughter and brother in-law, were killed after their Lexus accelerated uncontrollably. The driver's brother in-law called 911 and said that the brakes didn't work before the vehicle reached an intersection, struck another car, went into a ditch and caught fire. Some Toyota owners feel there is an electronic glitch in the system that controls the throttle and the ABC report shows that there is some anecdotal evidence which illustrates that incidents rose after the system was put into place in 2002, but so far, NHTSA has found no evidence to support those claims after six investigations.

ABC News caught up with Toyota Vice President Yukitoshi Funo (pictured second from left) and asked him if Toyota was covering anything up. Funo replied "It is not part of the Toyota culture and Toyota way to cover up anything," adding that the Japanese automaker is working with NHTSA to come up with an agreement on how to proceed going forward.

If you own a Toyota or Lexus and you are concerned about this issue, it appears that there is little that will be done in the short term other than tie down or remove the floor mats. If you do experience the acceleration issue, Consumer Reports suggests shifting your vehicle into neutral, pressing the brake and holding it down in an effort to bring your vehicle to a stop. This post and video from CR demonstrates how to effectively resolve the situation, and the risks of pumping the brakes. Turning off your vehicle could be a bad idea, as turning off the engine will also result in the loss of power steering and power brakes.

Grunewald Racing Camaro sets its sights on 2010 Formula Drift season

2010 Grunewald Racing Camaro - Click above for high-res image gallery

Conrad Grusewald has been an occasional participant in the Formula Drift series for the past several years with a supercharged C5 Corvette as his vehicle of choice for piloting around clipping points and narrowly missing concrete barriers while in opposite lock. For the 2010 season, however, he plans to step up the efforts with an all new 2010 Camaro built specifically as a drift car with Hankook Tire as the lead sponsor.

In addition to providing the Camaro for Grusewald, Chevrolet also pitched in an LS-A crate motor from GM Performance Parts that should produce more than 600 horsepower at the wheels. The car also features an Eibach suspension, carbon fiber body panels from Seibon, Forgeline aluminum wheels and more. Expect to see more of this car when the Formula Drift season starts in April, but until then you'll have to settle for our gallery of high-res photos below.

Grunewald Racing Camaro

• 
• 
• 
• 
• 
• 
• 
• 

Renault board considering following Toyota out of F1

Things have never been this bad for the Renault F1 team. Their performance is light-years behind where it used to be, their star driver is bolting once again, their top management has been thrown out of the sport in disgrace, and its biggest sponsors are leaving en masse. And now, following months if not years of speculation, the French automaker could be preparing to cut its losses and shut down its racing team altogether.

Reports indicate that Renault's board of directors is currently weighing its options, with possibilities including maintaining its full participation in the series, reverting to acting as an engine supplier for other teams (like Red Bull), or following Toyota and BMW out of the sport before next season. However reports that the FIA is considering taking legal action against Toyota for breach of contract which locked the company into the series through 2012 could make the decision a little more difficult.

The anticipation must be especially gut-wrenching for Robert Kubica, who just signed with Renault for next season after BMW Sauber exited the series. One way or another, the company is expected to announce its decision in the coming days.