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Tesla Model X SUV will ONLY be available with four wheel drive

The Tesla Model X (pictured) will only be available with 4WD The Tesla Model X does promise to be a very appealing SUV, even if its main USP for business users – zero BIK – will have been scrapped by the time it arrives in the UK. When it does arrive, prices are expected to be similar to the Model S Saloon and, just as with the Model S, Tesla are planning a variety of battery capacity options and, we thought, an entry-level rear wheel drive model. But Green Car Reports, in response to a reader enquiry, has got confirmation from Tesla that they have now decided that all Model Xs will come only with the 4WD powertrain fitted.

Honda cancels V8 program, S2000 and CR-Z convertible, report says

Fun appears to be on the chopping block at Honda. Plans for the successor to the S2000 sports car, a lineup of rear-drive Acuras, a proposed V8 engine and a drop-top built off the CR-Z hybrid are all dead, according to a report in a British magazine. The reason: Honda is rethinking its product plans as it grapples with the global downturn in sales and economic conditions, Autocar is reporting.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.