It's called an Auto-Implemented Property and is new to C# 3.0. It's a cleaner syntax when your access to the property doesn't need any special behavior or validation. It's similar in function to:
public class Car
{
private string _name;
public string Name
{
get { return _name; }
set {_name = value; }
}
}
So it saves a fair amount of code, but leaves you the option later to modify the accessor logic if behavior or rules need to change.