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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.

Redesigned Mercedes-Benz M-class takes to the road for testing

Mercedes-Benz gave its M-class SUV a mild freshening last year. But a more-thorough makeover is on the way two years from now for the 2012 model. These prototypes--the first we've seen of the new M-class--are wearing a lot of camouflage, but through the nose opening we spy a sharper grille design that looks similar to the GLK.

Vauxhall Insignia VXR Sports Tourer revealed

  Vauxhall has revealed the Vauxhall Insignia VXR Sports Tourer to go on sale later this year So the Vauxhall Insignia VXR Sports Tourer joins the saloon and hatchback to make a full set of hot Insignias. The VXR Sports Tourer gets the same engine as its siblings, namely a 2.8 litre V6 twin-turbo with 325bhp, 4WD and a six speed gearbox. It sports the big air intakes at the the front and the same aggressive body styling as the other VXR models, but with a big estate lump on the back.