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Concept Car of the Week: Mazda Ibuki (2003)

With the Ibuki, Mazda designers synthesized the most successful of the first generation MX-5's iconic elements and evolved their forms to make them even more memorable and simple. To do so, they used a strong geometric theme throughout the car inside and out: LED headlamps; front air intake; tail lamps; rear view mirrors; release handles and interior details down to the pedals – every shape follow the same oval theme. Zooming out, the silhouette – as well as the top view – is also oval, making the Ibuki look more like a toy than a car, which is a real bonus for a small roadster.

U.S. seeks 5 percent annual fuel-economy gains through 2016

The Obama administration today proposed gasoline mileage and greenhouse-gas pollution standards for new vehicles for model years 2012 to 2015, filling in the blanks for manufacturers en route to a 35.5 mpg national target in 2016. The Transportation Department and EPA proposal calls for fuel economy to increase by about 5 percent each year, starting from an average of 27.3 mpg for the 2011 model year, the agencies said in a statement. The average car buyer would save more than $3,000 in fuel costs over the life of a vehicle, the statement said.

Caterham sells F1 team

Caterham The Caterham Formula 1 team has been sold to a consortium of Swiss and Middle-Eastern investors following a poor season so far in 2014. Rumours that Caterham would cut its losses have been rife, since team founder Tony Fernandes threatened to quit if things didn't improve this year. The team is currently bottom in the championship and Fernandes hinted of an exit last week, when he tweeted “F1 hasn't worked, but love Caterham Cars.” Graham Macdonald, Caterham Group CEO: “Firstly I want to thank everyone who was involved in the F1 team for all their hard work and dedication since the team’s first days in 2009.