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Aston Martin CEO to auction his Rapide for Japan aid

Aston Martin CEO Ulrich Bez will put his own Rapide up for auction at the Bonhams yearly sale of Aston Martin and Lagonda cars and automobilia on May 21. All proceeds from the sale of Bez's car will go to aid victims of the recent earthquakes and tsunami in Japan. "Nobody could have failed to be moved by the recent events in Japan," Bez said.

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.

Toyota FT-86 II: Now Toyota mean it. Really

Toyota FT-86 II at Geneva Toyota has been threatening to produce an affordable sports car for quite a while. And when we first saw the Toyota FT-86 Concept at the end of 2009 (and in the flesh at Goodwood last summer) we’d expected to see it launch this year. Despite that expectation, we discovered in January that Toyota were actually taking a different concept to Geneva – the Toyota FT-86 II – dashing any hopes of the FT-86 in any shape or form hitting the road this year.