With the economy being horrible and car sales still staggering, Ford has decided to drop the price on their 2012 Mustang GT. It's not much, but at least it's something, the total sum subtracted from last years 2011 Mustang is $500. Which will now bring the price back under the $30,000 mark.

Also new for the new year is color, Ford has removed the Sterling Gray Metallic paint choice and replaced it with a Lava Red Metallic. They’ve also added some small creature comforts like lighted vanity mirrors, sun visors with storage, universal garage door opener, and the EPAS steering system with comfort, normal, and sport modes.

I'm not sure if these change is going to help bring the Mustang back to the leading muscle car seller, but I'm sure many Mustang fans will like to hear this news. The Camaro is still in the number one spot for sales, we'll see if that changes for the new year.

If you're a mopar man, this latest information ont the Generation III HEMI 426 being sold as a seperate crate motor might gain your interest. The HEMI is said to produce around 540 horsepower and 530 pound feet of torque. Pretty impressive for a V8 engine if you ask me. It's just 60 horsepower under the V10 engine made for the Dodge Viper.

Don't get your hopes up too much though as this new motor isn't a drop in the bucket, it will retail for $13,675. You'll have to dig deep down in your pockets to get money for this Mopar engine. If I had the money, I'm not sure if I would go down this route. There are many other aftermarket engines out there that can make just as much horsepower with reliability for a lot lower price.

Checkout the new Mustang Boss 302S, a special edition Mustang made strictly for competition in the SCCA World Challenge GTS class and the NASA American Iron Series. There's only 50 of these Boss 302S Mustangs made for 2011. The Boss 302S has the new legendary 5.0 liter V8 under the hood of the muscle car, mated with a six speed transmission. The suspension has two-way adjustable coil-over dampers and Ford Racing anti roll bars in both the front and rear. It also gets a six-point, FIA-spec roll cage and Recaro race seat. There's no doubt that this baby is ready to run! Pick up the Stang for $79,000!

New Mustang has surfaced for drag racers around the world. But, only 50 of these beast will be built for 2012. Take a glance at Ford's new 2012 M-FR500 Cobra Jet, made strictly for drag racing.

The muscle car is something else, you have a choice of two different superchargers, a 2.3 liter TVS unit or a 4.0 liter Ford Racing Whipple supercharger. The Cobra Jet will have all the necessary goodies to travel down the track in a hurry, a roll cage, aeromotive return-style fuel system with trunk-mounted fuel cell, and race prepped automatic transmission.

If you're looks to pick up the Cobra Jet Mustang, you better have deep pockets because the base model will get a sticker price of $91,900. Fully loaded, the Cobra Jet will set you back $103,980. It's definitely one hell of a muscle car, but personally I'd spend my money elsewhere.

Even the bad economy is making things hard for the rich, as Carroll Shelby will be putting up his own 1965 Shelby Cobra 427 CSX1001 on auction block at Russo and Steele Collector Automobile Auction. The auction will be held in Scottsdale Arizona on January 19-23 in 2011. The AC Cobra is a very limited edition, this is one of only 12 every made. The winning bidder of the bad ass car will actually receive the original title, which shows Carroll Shelby as the vehicle's first owner. Some muscle car fan will definitely get a piece of American muscle car history next year.

No ground breaking news for Chevy's Aveo, other then Chevy changing its name. But hey, maybe that is pretty big news for some automotive fans. Anyways, GM's Chevy division will now call it "Sonic." As in Sonic the Hedgehog, but if Sonic drove a car, I don't think it would look like this. The Aveo, well I mean Sonic is rather bland is anything but fast. The car is an entry level subcompact car. The change in the name will be out by next year and will have a price tag of $12,685.

Pumping up for the new year, exotic sports car manufacturer Porsche has produced yet again another 911, dubbed the 2011 Porsche 911 GT3 RSR. The super car made it's debut in December 12th at the Germany. Sporting a six cylinder 4.0 liter engine that boasts an amazing 455 horsepower, the super car had 5 more horsepower than its predecessor. Not much! What's made the difference is the modified air intake housing and redesigned exhaust system. But the new 911 has also made enhancements otherwhere, there's a new front lip to creat downfoarce. And the the Germans have also increased the size of the front wheels from 11 inches to 12 inches to have better grip on the road and overall less understeer. The cost of the 2011 911 GT3 RSR will run you around $542,500.

News has just surfaced in the world of beamer fans, BMW is adding a few new stock modifications to their 1-series coupe and convertible for 2012.

Both the 128i and the 135i get new air curtains for the front fascia to reduce aerodynamic drag. Other styling mods include accents for the headlights and taillights. And small light finishings for the interior.

Also the integrated rear spoiler is standard for the 1 series lineup now, the top model on the other hands gets an additional lip spoiler. Expect these modification updates to his the showrooms by next spring beamer fans!

Take a look underneath the hood of the custom SRT8 Challenger built by Southern Hotrod.

The 8.3 liter engine and blower supercharger on the hood is massive.

This Challenger definitely has the capability of doing a nice wheelie down the drag strip.

A lot of money and work has been put into this project, it's just great to finally see a modern day Challenger with a blower on it.

Man the thing looks mean, my kind of muscle car!