Volvo Penta Sx-m/ Dp-sm Trim Cylinder Ram 3857470 New Style on 2040-parts.com

Auto Show: Los Angeles Auto Show gives preview into design competition

Ask automobile designers to come up with their interpretation of the 'Ultimate LA Machine' and you'll get a broad array of creative ideas. That's precisely what the LA Auto Show asked Los Angeles area automobile design studios to do - and the results are fascinating, entertaining and thought provoking. The LA Auto Show has provided a sneak peek into the competition by releasing one of the 13 entries - the Hyundai NTT, 'Entity', submitted by the Hyundai Kia America Design Center.

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.

F1 Budget Cap row over

MAx Mosley announces the budget cap row is over between the FIA and FOTA - and he's resigning. After a meeting today in Paris, the FIA has announced that it has reached agreement with FOTA to scrap the budget cap it was insisting on implementing from 2010. Quelle surprise!