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Tesla plans to launch Nissan Leaf fighter in 2016

Tesla Motors will launch its smaller electric sedan in late 2016, with a range of at least 200 miles and a price point "half" of the flagship Model S, Tesla CEO Elon Musk said. Musk's timeline, range and price announcement is the most definitive data so far regarding the so-called "Gen III" vehicle. The current Model S starts at $62,400, meaning the Gen III car will start at about the same price as the Nissan Leaf SV and have triple the real-world range.

GM posts wider loss, burns through $5.2 billion in cash

General Motors, battered by a global economic collapse and buoyed by U.S. rescue loans, posted its sixth straight quarterly loss and burned through $5.2 billion in cash as revenue shrank by more than a third. The net loss of $9.6 billion in the fourth quarter compares with a loss of $1.5 billion a year earlier.

Ferrari 458 Spider driven by Fernando Alonso +video

Fernando Alonso drives the Ferrari 458 Spider As the Ferrari 458 Spider gets closer to its official debut at Frankfurt this week, Ferrari are busy dropping bits of PR stuff to keep up interest. Today’s helping is Ferrari F1 driver Fernando Alonso having a play in Ferrari’s new convertible. This is the first time we’ve seen Ferrari’s new drop-top on the move, and it looks every bit as good as it coupe sibling.