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New MINI teased in competition to attend the reveal (video)

New MINI teased in competition to attend the reveal It may be a few more weeks until the new MIN I is unveiled – 18th November, Sir Alec Issigonis’ birthday – but MINI is already upping the tease with a new competition. The reveal of the new MINI is scheduled to happen simultaneously at events in London, Los Angels and Shanghai and MINI are offering the chance to get an invite to one of the three reveals for three lucky winners. If you want to in with a chance of attending the first reveal of the new MINI – before its proper public debut at both the Los Angeles and Tokyo Motor Shows –  then head over to MINI’s New MINI website to jump through a few hoops and enter.

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.

Ferrari sets price for the 458 Spider

Ferrari has set the price of the 458 Spider at $257,000, with U.S. sales to start in January, In Europe, the sports car will cost 226,800 euros, or $309,000 at current exchange rate. Sales begin in October.