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Shake-up at Tesla; a dozen UK orders

By Tim Pollard Motor Industry 16 October 2008 11:22 Electric car start-up Tesla is restructuring its US operation and laying off around 100 staff, as the credit crunch continues to make life difficult for car companies big and small. It’s now on its fourth CEO in 12 months, as founder Elon Musk takes over from Ze’ev Drori. In an announcement on the chief exec’s blog, Tesla Motors said it would be ‘cash-flow positive’ within six to nine months – but only by increasing production and cutting operating costs.

Saab production restarts – again.

Saabs are once more rolling out in Trollhattan Of course, we nearly got here before when Saab went courting China’s Hawtai Motor Group, but that deal fell apart when the Chinese government refused to sanction the deal. Or Hawtai pulled out. Depending on which version you believe.

1961 Jaguar E-Type ‘Barn Find’ sells for £110k

Rarity is all in the classic car world, which is one of the reasons why the early, pre-Fiat Ferraris command huge prices (there were only 33 Series 1 Ferrari 250 GTOs built and you would now have to pay north of $40 million for one) and why the E-Type – glorious and desirable though it is – commands a fraction of that. In fact, you can pick up a very decent E-Type in good condition for as little as £50k, and even E-Types that have been fully restored and with low mileage don’t often break the £100k barrier. So why has this tatty 1961 flat-floor E-Type sold for £119,020 at Bonhams auction at the RAF Museum in Hendon?