Red Indicator Drive #226220 on 2040-parts.com

SEAT Leon ST stars at the 2013 Frankfurt Motor Show

Regular readers of MSN Cars will know that we're big fans of the new SEAT Leon.  So we're just a little bit excited about the new SEAT Leon ST that's making its world debut at the 2013 Frankfurt Motor Show. And given how highly we rate the 5-door hatchback, we have every reason to believe that Ford, Vauxhall and even Volkswagen should be worried about the arrival of the Leon estate...

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.

Spyker signs deal with China's Hawtai Motor to raise funds for Saab

Saab owner Spyker Cars on Tuesday said it has signed an agreement with China's Hawtai Motor Group to form joint ventures for manufacturing, technology and distribution. The agreement will also provide $222 million (150 million euros) funding for Saab, which has been forced to halt production because it cannot pay suppliers' bills. Victor Muller, Spyker CEO and Saab chairman, said the partnership will allow Saab to enter the Chinese car market with a strong Chinese manufacturer.