The Skobbler US iPhone app has recently received an update, adding a variety of new features to the application along with a new name (“GPS Navigation 2″). However, the formerly free application now has a price-tag ($0.99), meaning users are going to have to cough-up a dollar if they want to take Skobbler’s app for a spin and bypass the likes of TomTom, NAVIGON et. al.

As outlined in the app’s release notes:

★ BRAND-NEW: The next skobbler generation including optional offline mode upgrade ★ True voice-guided turn-by-turn navigation at an unbelievable price ★ One of the most successful navigation apps in the App Store with more than 1.5 million users worldwide ★ Germany’s best-selling navigation app for years ★

The app features both U.S. and Canada maps, and is universal, meaning you can load it up and use it on an iPad 3G. However, GPS Navigation 2 is powered by OpenStreetMap (“the free wiki world map“), meaning the maps featured in the app are crowd-sourced.

If you have the cash, we would recommend you purchase one of the “big name” navigation apps, because, when you’re driving at high-speed along unfamiliar roads, you need something that’s going to be reliable. I’ve been using TomTom’s iPhone app for a couple of weeks now, and it works great.

However, if you’ve only got a dollar to spare, take a look at GPS Navigation 2 and see what you think.

[via TUAW]