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GM product chief Bob Lutz to retire

GM boss Bob Lutz Retires By Ben Whitworth Motor Industry 09 February 2009 17:41 GM boss Bob Lutz will retire at the end of the year. The vice chairman of global product development – who has been at the centre of the automotive industry for the last 46 years – will be replaced by Tom Stephens, GM’s current veepee for global powertrain and global quality. Lutz, 76, will continue to report to GM boss Rick Wagoner throughout 2009 in his new role as GM vice chairman and senior advisor, before bowing out at the end of December.

2013 Lexus LS: Price & Spec announced

Lexus has revealed that the 2013 Lexus LS will start at £71,995 for the LS 460 Luxury rising to £99,495 for the LS 600h L Premier. Lexus has brought back the LS 460 for those who don’t want the hybrid LS 600h, so you can now have your new LS with a 4.6 litre V8 with 382bhp and no electric gubbins. Not only that, but you can opt for the LS 460 in Luxury or F Sport spec for a little dynamic edge.

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.