DETROIT – The new version of the Cadillac CTS-V is designed to go after the world’s fastest and most elite sport sedans.With a 550-horsepower supercharged 6.2-liter V-8 engine and magnetic-controlled shock absorbers, the new 2009 CTS-V ought to be able to keep up.”The CTS-V represents the full extension of our design, technology and performance capabilities,” said Cadillac General Manager Jim Taylor.In addition to the performance upgrades, the CTS-V, to be unveiled Monday at the North American International Auto Show in Detroit, also will have Recaro performance driving seats.General Motors Corp. (nyse: GM – news – people ) says the new car will compete with such elite vehicles as the BMW M5 and the Mercedes-Benz E55 AMG and E63 AMG.Taylor said the car enthusiast is a critical market for Cadillac as it tries to attract new buyers to the CTS, which was redesigned for 2008.”The audience for this car is a dream buyer,” said Clay Dean, Cadillac’s design director.Pricing and fuel economy were not announced for the car, which should make its way to dealerships sometime this fall.The 2007 CTS-V, the last year such a model was made, cost $52,170, and Cadillac spokesman David Caldwell said the new version would be a little more than that.The new version will accelerate from zero to 60 mph in less than 5 seconds, Caldwell said.Crew Chief note: Maybe the V8 is not dead could I have been wrong?? News source: Forbes