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Porsche changes CEOs

The changes continue at Germany's most famous sports-car maker: Porsche CEO Michael Macht is being replaced after less than a year at the helm by Matthias Mueller. The changes take effect on Oct. 1.

Big fall in insurance premiums

DRIVERS are set to be quoted happy after it was revealed that insurance premiums have fallen by more than 14% over the last year. The typical quote for annual comprehensive car insurance cover was £533 in January, which was also a record 4.6% slide on the previous quarter, according to the latest AA Insurance premium index, which takes the average of the five cheapest quotes on the market. The AA British Insurance Premium Index, which has been running for 20 years, found that the North West remains the most costly region to insure a car, with the average premium for someone who shops around standing at £809, although this region also saw the biggest price drop over the past quarter at 6.3%.

Tesla Model S burns in Seattle

A Tesla Model S crashed and burned on Tuesday morning in Seattle. The electric-vehicle manufacturer told Bloomberg that the Model S “collided with a large metallic object in the middle of the road, causing significant damage to the vehicle.” More specifically, the object struck the Tesla's battery. The report worried investors, and Tesla stock fell 6.2 percent on Wednesday.