Believe it or not, but the car above is based on the current generation Ford Mustang. We don't have a lot of details, but we do know that it's a Ford concept car codenamed "Project B" that is being built by Galpin Auto Sports and will debut at the SEMA show in November. Power will come from a twin-supercharged Mustang V8 that has been stroked to 5.0 liters. Massive wheels, 24 inches in the rear and 22 inches up front, engulf 16-inch Wilwood brakes. Our sources say that this will also be the very first car to feature Ford's second generation SYNC system. The concept definitely has an interesting design, and we're anxious to see the finished product in November.

Nissan announced today a price increase for the 2009 GT-R, raising the MSRP nearly $7,000 from $69,850 to $76,840. The price for the Premium model has been increased even more, going from $71,900 to $79,090 in one fell swoop. Fortunately, the adjusted prices do not affect customers who placed their orders with dealers before September 5. Nissan cited increased material costs as the reason for the adjustment.

Since the GT-R is already one of the best performance bargains on the market today and customers are paying a premium to own one, we doubt that the price increase will have any effect on sales. Still, $7,000 is a serious chunk of change that could go towards aftermarket toys from Cobb Tuning or HKS.

Audi gave up the details on the European-spec A3 earlier this year, but it took until today for it to disclose what changes will carry over to the U.S. model when the 2009 A3 goes on sale later this month.

A cursory inspection of the exterior and specs doesn't reveal much, but dig a little deeper and the revisions become obvious. The fascia has been tweaked with a few cues from the recently revamped A4, including new LED daytime running lamps, and redesigned rollers fill the wheel wells, hiding Audi's optional Magnetic Ride suspension system.

The five-door's powertrain choices remain, with either a 2.0-liter turbocharged four or a 3.2-liter V6, and all-wheel-drive is finally available as an option on the 2.0T model. Previously, Audi's hill-start assist was only available with the S-tronic dual-clutch transmission, but it's now standard on models fitted with the six-speed manual.

Pricing has been set at $26,920 for the front-wheel-drive, six-speed manual model equipped with the 2.0T, while the top of the line 3.2-liter Quattro variant comes in at $36,975.

The coding wizards at 3rd Dimension, Inc. have released an iPhone app that provides a live video stream of traffic in selected areas, allowing commuters to view conditions before they make the trek to and from work.

Currently, the application is only available for Detroit, Harford, Houston, Indianapolis, Kansas City, Knoxville, LA, New York and Washington D.C., but more cities will be added in the future.

The application is a free download through the iTunes store (search for "traffic" and you'll see the available cities), and after checking out the New York feeds, we're astounded at how many traffic cameras are available in the Big Apple.

There's a lot of smack talk about Detroit automakers these days, and while some of it is spot on, other myths are no more credible than what's written in the men's john. General Motors is apparently tired of fielding questions surrounding this bathroom fodder and the embattled automaker is busting out its own Sharpie to dispel what it feels are untruths. GM has created a Web 1.0 site called GM Facts and Fiction on which are several statements often said in the media and around the water cooler that its feels are untrue. For example, much talk has come up concerning government bailouts, and GM Facts and Fiction counters that the federal money would not be a bailout but rather low-interest loans earmarked for developing fuel-efficient vehicles. Other topics of purported myth include fuel economy, product desirability and the Chevy Volt. Hit the link below to see GM's latest five fact-and-fiction posts, and let us know if you think the automaker is on the mark or just scribbling lavatory graffiti of its own.

Nissan is bringing a trio of vehicles to the city of lights for the 2009 Paris Motor Show: a new concept called the Nuvu, an all-new production car car called the Pixo and a revised Note. We don't have an image of the Nuvu yet, but Nissan says it's a compact all-electric city car with 2+1 seating. It takes its green theme seriously with solar panels shaped like tree leaves on the roof that channel the sun's power through a "tree trunk" conduit in the center of the vehicle.

Next up is the Pixo, a new production car for the city with four-doors and a rear hatch that's powered by an eency-weency 1.0L three-cylinder engine. Built in collaboration with Suzuki, the new A-class car will obviously be geared towards fuel economy and low emissions when it goes on sale in Europe in the spring of 2009.

Finally, Nissan will have a revised version of its Note compact car that features a new, sleeker front end. New wheels, colors, a revised suspension and an available 1.5L dCi engine round out the changes. The Note also gets Nissan's new in-car nav/infotainment system called Nissan Connect. It comes with everything the market demands including a touch-screen navigation system, connectivity for digital audio players and Bluetooth connectivity.

Today is the day reservations become available for the Hyundai Genesis Coupe in Korea. To celebrate, Hyundai has released a new commercial which you can watch after the break. Those placing orders now should begin taking possession of their new two-door, rear-wheel drive coupe on September 26. Pricing for the new hotness from Hyundai is very reasonable for the Korean market with a base price of 25,360,000 WON (about U.S. $23,000). Stepping up to the "Stylish Pack" (seriously?) nets you 19-inch rims, a limited slip diff and optional Brembo's for 26,920,000 WON (U.S. $24,500). Well worth it in our estimation. A loaded 3.8-liter V6 Genesis Coupe will go for 33,150,000 WON (U.S. $30,100), which buys you over 300-horsepower and a full leather interior.

Hit the jump for a full rundown of pricing and options for the Coupe in Korea. According to our tipster, the Genesis sedan with the 3.8-liter V6 is selling for about $70K in its home market. This being the case, it's pretty hard to draw any conclusions as to what this means for U.S. Genesis Coupe pricing when it goes on sale sometime in 2009. We can hardly wait.

By naming its impending city car the iQ, Toyota makes no bones about who it's after. And with an extra set of seats fitted into its diminutive little runabout, the Japanese auto giant looks to one-up the smart fortwo with a vehicle that measures about the same size. Ahead of its European release, Toyota decided to release a few new shots of the production iQ, and we've gone ahead and assembled them into a high-res gallery for your viewing pleasure. After looking things over again, we like what we see. The look is obviously Toyota and we think that the flowing but angular lines translate a bit better in this small package than in some of the marque's larger vehicles. There are four seats inside, though Toyota considers the iQ a 3+1 seater, as the fourth seat is suitable only for wee children. Production will begin shortly and vehicles will begin showing up in Europe at the start of the new year.

We're less than a month away from the official unveiling of the BMW X1 concept in Paris, but the boys from Bavaria are already planning a sportier, two-door version of their new compact 'ute. Dubbed the X2, this coupe-ish soft-roader will be to the X1 what the X6 is to the X5.

The 1-series-based X1 is currently carrying the codename "Sports Activity Wagon" (SAW), whereas the X2 is known internally as a "Sports Activity Runabout" (SAR). In keeping with BMW's new nomenclature and styling, the X2 will sport different bodywork, up-market materials, more standard equipment and a wider track to differentiate the two-door CUV from its four-door counterpart. Powertrains fitted with BMW's Efficient Dynamics system will be part of the package, beginning with 1.6-liter four-cylinder engines, eventually evolving into mild- and plug-in hybrid drivetrains.

While the X1 has already been green-lit for production, the X2 is still in limbo. But if it does come to market, expect the X2 to bow sometime in 2011 after the X1 launches in 2010.

News out of Toledo is that Chrysler plans to drop either the Jeep Liberty or the Dodge Nitro within four years and merge the two vehicles into one. These two 'utes are built on the same exact platform, use basically the same engines and are built in the same Toledo plant. There is no good reason for both of them to exist, which makes us wonder why they ever did in the first place and why it will take three years to correct. Regardless, considering that Jeep will always be the off-road brand, it would make most sense to keep the Liberty name going. Losing the Nitro, meanwhile, might actually help Dodge improve its image as a volume performance brand.

This convergence of duplicate vehicles is part of Chrysler's Project Genesis plan. Under the plan, dealers will begin to offer Chrysler, Jeep and Dodge vehicles under the same roof. Other nameplates that are or should be converged include the Jeep Compass/Jeep Patriot and Dodge Durango/Chrysler Aspen, the latter of which could see themselves replaced by a new model with Jeep underpinnings.