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And the Top Gear UK Cars of the Year for 2013 are...

Those loony Brits at Top Gear have named their Car of the Year, and if you're thinking it's the McLaren P1, Jaguar F-Type, Land Rover Range Rover Sport or Rolls-Royce Wraith, we're sorry to inform you that none of those Anglo automobiles earned the crown. In fact, the winner of Top Gear's most prestigious award is quite the surprise.
Of course, those cars weren't without their own awards. The P1 was the top hypercar (sorry, Porsche 918 and Ferrari LaFerrari), while the F-Type netted best convertible and the Range Rover Sport was voted SUV of the Year. Other honorable mentions included the Mercedes-Benz SLS AMG Black and S-Class, the Porsche 911 GT3, the BMW i3 and the Ferrari 458 Speciale. The winner, though, wasn't even a high-dollar supercar. It was the Ford Fiesta ST.
Yes, the Fiesta ST beat out some off-the-wall cars like the revolutionary Volkswagen XL1 and the bonkers Peugeot 208 T16 Pikes Peak, not to mention all the cars we listed above, to take the title of Top Gear Car of the Year. And if you've driven one, you'll completely understand why.

Rare Ford Mustang ASC McLaren is a piece of '80s history

You can't blame the dealer for advertising this oddball convertible as a "Ford Mustang McLaren." The name certainly rolls off the tongue better than "Ford Mustang ASC McLaren," and it makes the car sound a whole lot more appealing. However, without the 'ASC' in there, you don't get the full picture. And when it comes to the world of strange automotive collaborations—particularly those of the 80s—you most definitely want the full picture. ASC McLaren Mustangs were the result of fortuitous timing, and a project that was already underway between the American Sunroof Company and McLaren (no, not that McLaren). Detroit custom car builder Peter Muscat brought the idea of a Mustang with a tonneau cover to ASC after chopping the top off a Fox body on his own, and in turn ASC founder Heinz Pretcher brought the concept to Ford. Big blue was already in the midst of relaunching a Mustang convertible, which had been absent from the lineup for 10 years, so initially it was the Mercury Capri that got the ASC/McLaren treatment. The result was a car that was more expensive than a Mustang GT, and coupled with declining sales of the Capri overall, the car was discontinued in 1986, paving the way for the ASC McLaren Mustang you see here on eBay. With the change over to the Mustang as their platform for modification in 1987, ASC McLaren were given the opportunity to create something notable. Customizing the Capri was one thing, but the Mustang name carries with it iconic status. So what did ASC McLaren do with their chance to leave their mark on automotive history? They gave the car some visual modifications, both inside and out, but like the Capri, left the powertrain untouched. Also like the Capri, the cars still ended up costing more than $20,000. Between the high price, the economic woes of the late 80s, and disputes between Muscat and Pretcher, the ASC McLaren Mustangs were no more by 1990. During the three year run, 1,806 ASC McLaren conversions were completed, making them quite rare, especially low mileage examples like this one. The 5.0 V8s are known for being stout engines, capable of handling serious modification, and logging lots of miles, so there are no concerns there. The 5-speed Borg-Warner transmission that came in all Mustang GTs is also known for being a durable unit, the '87-'90 versions especially so. The main concern here would be the life the car has lived, and more importantly where it has lived.

Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.