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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.

Jaguar heading for the Goodwood Revival with more than 30 Classic Jags

Classic Jaguars in action at the Goodwood Revival The Goodwood Revival may not have quite the same appeal for some as the Goodwood Festival of Speed, but if you love classic cars it’s a must go. This year Jaguar are again out in force (last year Jaguar took their Heritage Collection to Goodwood) with more than thirty Jaguar and Jaguar-powered racers heading for Goodwood. There will be racing C-Typoes, D-Types, E-Types and Mk II saloons in action,.

2011 Audi R8 GT, an AW first look

Three years after it burst onto the supercar scene, Audi has unveiled a hard-core version of its R8 called the GT. Based on the existing mid-engine R8 V10 and incorporating aerodynamic, weight-saving and mechanical developments used by the company's R8 LMS GT3 race car, Ingolstadt will build just 333 copies of the new 560-hp four-wheel-drive performance flagship. Pricing has not yet been revealed, but given the extent of the changes to the new two-seater, buyers should expect a hefty premium over the R8 V10's $147,000 price tag when the GT goes on sale in North America.