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Kia Proceed GT (2013) first sketch of Kia's sporty hatch

Here's Kia's answer to Volkswagen's Golf GTi and Ford's Focus ST - the Proceed GT. It's a hot hatch with a 200bhp 1.6-litre petrol engine, and will cost just over £20,000. Look out for its reveal at the 2013 Geneva motor show, with sales starting in summer 2013.

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.

Aston Martin DBS, Virage, V8 Vantage Dragon 88 at Beijing

Aston Martin whipped the covers off a trio of Dragon 88 special editions at the 2012 Beijing motor show - with local-market China-aimed versions of the DBS Volante, Virage coupe and V8 Vantage S coupe. And if you're wondering why Aston is focusing so much of its energies on China, remember this: it is opening 11 - eleven! - new dealerships here in 2012, as it taps into the new found wealth and sales opportunities in this growth market.