Two Senators are reportedly preparing to introduce a bill that would directly punish executives for knowingly hiding safety defects from the public.

Authored by Sens. Richard Blumenthal (D-Conn.) and Bob Casey (D-Pa.), the Hide No Harm Act of 2014 serves as a response to the General Motors ignition-switch debacle. Legislators have accused the company of maintaining a cover-up for more than a decade after the problems first surfaced, contributing to at least 13 deaths and potentially dozens more.

Companies and corporate officers would be required to notify federal agencies within 24 hours of discovering a safety issue, significantly reducing the current five-day span that automakers can currently wait before informing the National Highway Traffic Safety Administration. The language has been written broadly, however, potentially affecting a wide range of industries.

Executives who violate the proposed laws would face up to five years in prison, while whistleblowers would be immune from federal prosecution.

Following several record settlements with the Department of Justice over corporate wrongdoing — mostly aimed at the financial industry — some critics argue that the “too big to jail” approach does little to change misbehavior. Toyota was recently hit with a $1.2 billion settlement related to the unintended-acceleration recalls, which followed numerous fatal accidents, however no executives ever faced criminal charges.

GM reportedly faces potential federal fraud charges over the ignition-switch recall, with other actions expected to be taken at the state level.

Tesla has finally settled on a name for its upcoming compact all-electric sedan. The new model, which is expected to start around $35,000 and possess a range of up to 200 miles, will be called the Model III.

Speaking with Auto Express, Tesla chief Elon Musk explained why a clash with Ford forced the automaker to abandon plans for its first-choice “Model E” moniker.

“We had the model S for sedan and X for crossover SUV, then a friend asked what we were going to call the third car,” said. “So I said we had the model S and X, we might as well have the E.

“We were going to call it model E for a while and then Ford sued us saying it wanted to use the Model E – I thought this is crazy, Ford’s trying to kill sex! So we’ll have to think of another name. The new model is going to be called Model 3, we’ll have three bars to represent it and it’ll be S III X!”

While Musk didn’t delve into the specs of the Model III, previous reports have suggested it will not ride on a shortened version of the Model S’ all-aluminum architecture, instead relying on a unique platform with less-expensive steel components. In size, the sedan will likely be about 20 percent smaller than the Model S.

The BMW 3 Series-rivaling Model III is expected to debut in 2016 and hit the market in 2017, roughly two years after Tesla’s next product, the Model X crossover.

Update for Tesla Roadster

During his interview with Auto Express, Musk revealed one other interesting tidbit – Tesla is planning a battery upgrade for the discontinued Roadster that should boost maximum range from 245 to 400 miles.

Photo by Ronan Glon.

The Obama Administration has declined to intervene on behalf of Tesla as the startup continues to fight state laws that ban direct sales to customers.

Responding to a “We the People” petition that called for the executive branch to “allow Tesla Motors to sell directly to consumers in all 50 states,” the White House posted a reminder that laws regulating vehicle sales traditionally sit with lawmakers at the state level.

“We believe in the goal of improving consumer choice for American families, including more vehicles that provide savings at the pump for consumers,” the administration wrote. “However, we understand that pre-empting current state laws on direct-to-consumer auto sales would require an act of congress.”

Tesla appears to be winning concessions in several states that enforced outright bans on direct-sales when the petition was first submitted in June 2013. The company’s business model has received public support and backing from both Republicans and Democrats.

Dealer lobbyists have pushed for existing franchise laws to be tightened, arguing that Tesla’s direct-sales approach gives the company an unfair advantage. In states where such proposals have been placed under public scrutiny, the dealer position has received little support.

Tesla in several instances has reached compromises with lobbyists and state legislatures, allowing the company to continue direct-sales operations at a limited number of locations in the battleground states.

The Insurance Institute for Highway Safety has published its first list of recommended used vehicles for teen drivers.

The organization acknowledges that 83 percent of vehicles purchased for teen drivers are used, rather than new models that are frequently highlighted following the latest crash tests.

Recommendations are split between the “best choices,” all under $20,000 but averaging around $14,000, that earned at least 4/5 stars overall or 4/5 stars in the front and side tests under the old rating scheme. The list of “good choices,” all under $10,000 — fitting the purchase profile for most teen drivers’ first vehicle — meet the same general criteria and a “better-than-poor” rating for head restraints and seats.

Some of the cheapest models in the ‘best’ category include the 2007+ Volvo S80, 2009+ VW Jetta, 2007+ Honda Element, and 2006+ Subaru Tribeca, all of which were found to have a Kelly Blue Book estimated value under $10,000.

For tighter budgets around $5,000, the IIHS ‘good’ list includes the 2006+ Hyundai Azera, 2006-2008 VW Passat, 2005+ Saab 9-3, 2006+ Suzuki Grand Vitara or the 2006+ Kia Sedona.

In general, the IIHS cautions parents to stay away from high-horsepower models and minicars or small cars. Electronic stability control (ESC) is considered “a must” to help inexperienced drivers maintain control on slippery roads, with a risk reduction level comparable to seat belts.

“A teenager’s first car is more than just a financial decision,” says IILS president Adrian Lund. “These lists of recommended used vehicles can help consumers factor in safety, in addition to affordability.”

BMW has significantly expanded its recall related to defective airbag inflators supplied by Takata.

The company initially limited its campaign to 220,000 vehicles from the 2002-2003 model years. The broader recall now includes 1.6 million 3-Series vehicles produced between May 1999 and August 2006, essentially covering the entire E46 generation.

“Potential problems with gas generators that may rupture in vehicles produced by our competitors using similar systems from the same supplier have become evident in rare cases,” the company said in a statement. “BMW is not aware of a case involving a BMW vehicle.”

The latest expansion is focused on passenger-side airbags that may have been outfitted with Takata’s defective inflators. In several accidents involving Japanese vehicles operated in humid environments, the inflators exploded and caused shrapnel injuries.

BMW suggests service centers should be able to replace the airbags in approximately one hour.