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Audi preps S3 Cabriolet for Geneva

Audi revealed the S3 Cabriolet on Wednesday, before its Geneva motor show debut. The go-fast version of the small A3 Cab shares the same widespread MQB architecture as the rest of the 3 range, but it gets a hotter engine, a lower stance and, of course, a rag top. It’ll arrive in Germany this summer, and possibly here sometime after the S3 sedan in early 2015.

2012 Pinto Stampede to benefit the Wounded Warrior Project

The second-annual Pinto Stampede will take place May 17-20, beginning at Bristol Motor Speedway in Tennessee and ending in Summit Point, W.Va., at the Jefferson 500. For those keeping track, that's 600 miles in a car that some would have you believe is little more than a rolling Molotov cocktail. For the second time, the Pinto Stampede will benefit the Wounded Warrior Project, an organization that aims to “honor and empower wounded warriors” of the U.S.

Tesla pays off its government loans

Tesla paid off the last of its $465 million government loans May 22, nine years ahead of schedule, thus outperforming most U.S. college graduates and the vast majority of American homeowners. Tesla used funds from a stock offering to finish the loan with a whopping bank transfer of $451.8 million Wednesday, pointing out that it was “…the only American car company to have fully repaid the government.” Apparently no one at Tesla was even born when Lee Iacocca paid off Chrysler's $1.2-billion government bailout ahead of schedule back in 1983.