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TrueCar announces women's racing initiative

TrueCar, publishers of new-car-transaction data, revealed plans for a multiyear push into motorsports sponsorship but with a twist. TrueCar will throw its money behind female racers in premier series and up-and-coming ones in numerous development series. "TrueCar is built upon the foundation of empowering individuals with the tools and resources they need to become expert car buyers," TrueCar founder and CEO Scott Painter said.

Mustang cocreator Donald Frey dies

Donald Frey, a senior product planning manager at Ford Motor Co. in the 1960s who along with Hal Sperlich and Lee Iacocca developed the iconic Ford Mustang, died on March 5 in Evanston, Ill., from a stroke. He was 87 years old.

General Motors to shut down Saab

General Motors has announced that it will be closing the Saab brand after the company was unable to strike a deal with Spyker Cars. This follows from last month's withdrawal of would-be suitor Koenigsegg, leaving Spyker the sole contender in the acquisition of the ailing Swedish brand. According to Nick Reilly, GM's European president, the company has decided to cut its losses: "Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time.