1956 Ford Convertible on 2040-cars

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Watch the Hennessey Ford GT makes its record run at Texas Mile

We said they'd probably be out with an official video, we did not lie. The Hennessey-powered camouflage Ford GT sat at one end of the runway at the Texas Mile sitting still. At the other end of the runway it had broken its own speed record, the twin-turbo 5.7-liter V8 pushing the aerodynamic supercar up to 267.6 miles per hour, a 4.3-mph improvement over the old mark.
There's not much in the video you haven't already seen, this just makes it official. That said, who doesn't want to see a twin-turbo Ford GT set an incredible speed record? You can watch it below.

GM, Ford, Toyota, Stellantis CEOs want EV tax credit cap lifted

For just over a decade now, the U.S. has had a federal tax credit worth up to $7,500 for buyers of electric cars and plug-in hybrids. The catch has been that, once 200,000 of them were claimed for a manufacturer, that credit would be phased out. Now, automakers are asking for this cap to be lifted across the board, specifically General Motors, Ford, Toyota and Stellantis. The request comes in the form of a joint letter to Congress (which you can read here), signed by the CEOs of each company. And the ask really is as simple as that. The automakers would like the cap lifted for all EV manufacturers, and instead have a sunset date for the tax credit put in place. Broadly speaking, they want it lifted because of concerns about rising costs from materials and supply chain issues, which can lead to higher prices and could discourage buyers from getting an EV. It would also put automakers back on an even playing field. GM reached its tax credit cap a few years ago, meaning that none of its EVs are eligible for the tax credit. So while it reaped the benefits early on, it now has something of a disadvantage to competitors with credits remaining, such as those that signed on to this letter. GM wouldn't be the only beneficiary. Tesla ran out of credits years ago, too. Nissan still has credits, but likely not for much longer, as InsideEVs reports around 190,000 Leafs have been sold in the U.S. as of April. So it will probably face a phase-out soon, just as the anticipated, and more expensive, Ariya is heading to market. Making this change would also seem like a good choice for continuing to stimulate EV sales, if that's what the government is looking to do. While EVs are now reaching parity in practicality and performance with gas-powered cars, having an additional financial incentive will surely keep them looking more attractive. And automakers can push EVs without fear of running out of credits early. Certainly some sorts of changes to the EV tax credit are likely. There are bills in the works focusing on cap changes as well as the amount of money available, and which vehicles are eligible. Credits up to $12,500 have been proposed, plus possible credits for used EV sales and restricting some credits to vehicles of certain price brackets. Of course, any changes will require some cooperation in a deeply divided Congress. Related Video: Government/Legal Green Chevrolet Chrysler Ford Toyota Electric EV tax credit

Ford considering bringing Ranger pickup back to the US

When Ford announced last month that it was moving Focus and C-Max production out of the Michigan Assembly Plant after 2018, it said that it was looking for other products to build at the facility and such proposals would be part of discussions with the UAW on a new contract. According to a report in The Detroit News, one of those vehicles could be a new Ford Ranger midsize pickup. We're a long way out from a decision being made, and both the UAW and Ford's board of directors would have to sign on, but the report says it's in the air. The last Ranger was built in the now-shuttered Twin Cities Assembly Plant in St. Paul, MN, in December 2011. After 29 years on the market, slow sales for the truck itself and the midsize truck segment doomed it, annual Ranger sales numbers having dropped from a peak of roughly 350,000 in 1999 to just 70,832 in 2011. The midsized truck market is still coming out of its own doldrums, with 211,797 sold through July 2015, the Toyota Tacoma accounting for 50.1 percent of that, followed by the Chevrolet Colorado, Nissan Frontier, and GMC Canyon. Even with analyst predictions that the market will grow to 300,000 in the near future, compare that to the fullsize truck market that has already sold 1.2 million units this year. The Wayne plant has built trucks before over its 57-year history, but it would likely need more than just the Ranger to keep it afloat; it builds five vehicles now, pumping out 265,000 units last year. According to Bloomberg, this could also mean the possible return of the Bronco. If we do get a new Ranger, it probably won't be anything like the old Ranger. Ford still makes it for 180 global markets, but if you've seen one you know it's a different animal. The wheelbase on the 2015 Ranger sold in Australia is fifteen inches longer than our 2012 Regular Cab model, about an inch longer than the 2012 Supercab. It has a bulkier design, weighs 700 pounds more, and can be had in numerous configurations we didn't get like a five-seat Dual Cab. A new version for us would also need updating for US regulations, and Ford would want to make sure it could be built with price and size separation from the fullsize F-Series.