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Tesla offers finance deal on Model S

Tesla Motors has joined forces with USBank and Wells Fargo Bank to create vehicle financing and leasing products that allow consumers to lease a Model S electric sedan for a net payment of about $500 a month after a 10 percent down payment and calculated savings. The 10 percent down payment often will be covered by federal and state tax credits available on electric vehicles. However, the $500 a month payment is an "effective" monthly payment.

Ferrari 250 GTO sets new world record with £32 million sale

The Ferrari 250 GTO was already the most expensive car in the world ever sold: now, it has cemented its position as reports emerge of an example selling for a staggering £32 million ($50.3m). That’s an increase of almost 50% on the selling price of the former record-setting 250 GTO, an example built for Sir Stirling Moss and sold in 2012. The latest deal is a private transaction and both the identity of the new owner and the location of the car are being kept secret.

Lincoln aims at luxury crossovers with MKT

In an effort to grow the brand to customers who normally buy imports, Lincoln will offer up a full-size crossover, the MKT, that is due in dealerships in late summer. We saw the Lincoln MKT at the Detroit Auto Show. As sales of full-size sport/utility vehicles decline--Lincoln says industry-wide sales are down 5.2 percent for 2008--sales of crossovers are growing.