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Read the GM press release annoucing the sale of Saab to Spyker Cars

PRESS RELEASE: GM Reaches Agreement to Sell Saab to Spyker DETROIT -- General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB. "Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances. “General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” Smith said.

Ultra-rare 1936 Bugatti Type 57SC Atlantic sold

A 1936 Bugatti Type 57SC Atlantic was sold to an undisclosed buyer, auction house Gooding & Co. said on Wednesday. The price was not revealed, but it's believed to have sold for between $30 million and $40 million.

New NHTSA guidelines recommend vehicle systems disable text entry, videos while driving

Federal regulators, moving to curb distracted driving, issued final voluntary safety guidelines today that would disable certain in-vehicle functions such as manual texting, Web browsing and video phoning while driving. Automakers should do more to keep drivers' eyes on the road and hands on the wheel, U.S. auto regulators said as they released the latest guidelines meant to cut down on crashes caused by the use of electronic devices in cars.