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Report: New-vehicle purchase price on the rise

The average purchase price of a new car is on the rise, according to a recent report from automotive analysts at truecar.com. The average transaction price for passenger cars and trucks in the United States was $31,087 last month, up $339 from March 2012. Transaction price, or the out-the-door price, includes taxes, titles and fees.

Sky takes Mazda powertrains to the next level

Mazda's next-generation of powertrains, called Sky, will feature a variety of new technologies that company engineers say improve fuel efficiency by 20 percent. The Sky engines--Sky-G for the gasoline version, Sky-D for diesel--coupled with a Sky-Drive automatic transmission or a six-speed manual, were offered for test drives during a technology day in Berlin. The Sky-G engine we drove was a 2.0-liter inline-four that made 160 hp and 155 lb-ft of torque.

Saab says it will restart production after securing short-term loan

Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.