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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

Audi A5 Sportback

Audi has officially revealed the Sportback, adding yet another model to the A5 range. Blurring the line between a sedan, a coupe and a conventional wagon, the emotional, progressive design measures 4711mm long and 1854mm wide, yet stands only 1391mm high (12mm shorter than a Mercedes CLS). With front and rear ends characterized by horizontal lines, the automaker's characteristic proportions are evident when viewed in profile.

Skip Barber Racing School rolls back prices

Skip Barber Racing School is turning back the clock to 2001, when gasoline cost less than $2 a gallon and a three-day racing school cost just $3,000. All 12 locations will move to the new pricing scheme temporarily, to give more drivers a chance to get behind the wheel and do some performance driving. Skip Barber has been teaching people to race for more than 30 years.