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News watch October 2011: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourMonday 31 October 2011• The two companies planning to buy Saab - China's Youngman and Pang Da - have agreed to pay a €50 million bridging loan, court documents show. And they are pledging €610m in long-term funding from 2012, according to ANE (Automotive News Europe)  • Martin Winterkorn, the CEO of the Volkswagen group, says he is pleased with the performance of Seat and Skoda.

Mercedes Teases Its 911 Rival Ahead Of Autumn Launch

MERCEDES has released teaser images of its hotly anticipated new Porsche 911 rival. The German firm has dropped the familiar ‘Benz’ element of its name, with the car being called simply the Mercedes-AMG GT. Name and cabin layout aside, Mercedes is giving little away as to the car’s looks and motive power.

Ford reveals four Focus ST concepts for SEMA

Ford revealed customized versions of the Focus ST on Monday for the upcoming SEMA show in November. The four new hatches add to the company's Dreamcase, a website that shows off what Ford will offer at the aftermarket show. The Focus ST by PM Lifestyle gets a Banks Power straight-shot water methanol injection system along with 19-inch wheels from Rotiform, GT Radial Champiro tires, Sparco seats and Schroth Racing five-point harness.