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2015 Ford Mustang to serve as halo car in Europe, other overseas markets

Ford Motor Co. expects that its 2015 Mustang coupe will boost its image in Europe, even though the car will not sell in large numbers. "The Mustang's formidable reputation for performance and its iconic status as a symbol of freedom and optimism precedes it even in those parts of the world where the car has never been sold," Ford of Europe CEO Stephen Odell said today in a statement.

Tesla rolls out Model S hatchback, plans late 2011 start

Amidst thumping techno and inside his own rocket factory, Tesla founder and CEO Elon Musk pulled the cover off his much-anticipated second car onThursday. The Model S five-door hatchback will go into production in late 2011 at a rate of 20,000 per year. Prices will start at $49,900 for the base model, a price that assumes the $7,500 current Federal tax credit available.

Faulty airbags cause recall of 3.4 million cars

Toyota, Honda and Nissan are recalling more than 3 million vehicles made between November 2000 and March 2004 for faulty airbags from parts supplier Takata, Automotive News reported on Thursday. So far, 1.73 million Toyotas, 1.14 million Hondas, and 480,000 Nissans are involved in the recall. But the report from Automotive News suggests Takata also supplied other manufacturers with the same airbags.