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Acura ILX concept

The luxury compact sedan is set to launch later this year, representing a move by Acura into the compact premium class for the first time in order to attract younger buyers into Honda's upmarket range. The car features a slimmer version of the Acura shield grille and lamps that are cut into by the bumper surface. In profile, the ILX's silhouette, DLO, and rear door shut line are reminiscent of the Lexus IS, but Acura's rising feature line, which forms a visual muscle over the rear wheel (despite front-wheel drive architecture) adds a level of distinction.

Tesla pays off its government loans

Tesla paid off the last of its $465 million government loans May 22, nine years ahead of schedule, thus outperforming most U.S. college graduates and the vast majority of American homeowners. Tesla used funds from a stock offering to finish the loan with a whopping bank transfer of $451.8 million Wednesday, pointing out that it was “…the only American car company to have fully repaid the government.” Apparently no one at Tesla was even born when Lee Iacocca paid off Chrysler's $1.2-billion government bailout ahead of schedule back in 1983.

Coda to price electric compact sedan at $44,900

Coda Automotive Inc. will begin delivering the first of its electric compact sedans in December priced at $44,900 before federal and state incentives. With federal incentives, the starting price will be $37,400, and with California state incentives, the price could be as low as $32,400.