Cobalt Boat Emblem on 2040-parts.com

BMW adds performance edition for 3-series

In politics, power comes with privilege. In the car world, power comes with a price. And in the case of the 2011 BMW 3-series, it can be specified for $550.

Lotus Elise Club Racer released for U.K.

Lotus will release a stripped-down version of the Elise, called the 1.6 Lotus Elise Club Racer. However, it will be available only in the United Kingdom. The already scant two-seater loses another 54 pounds with measures such as the use of a lightweight battery, the deletion of sound-deadening material and the removal of the radio speakers.

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.