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News watch December 2012: 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-hour Monday 31 December 2012• Despite reports earlier this month that shareholders valued Mercedes-Benz at half that of its luxury rival BMW, Mercedes CEO Dieter Zetsche has remained bullish about his ambitious targets for the carmaker's growth. 'I am confident that we will be ahead of our rivals by 2020 at the latest,' he told German newspaper Boersen-Zeitung in an interview.

Bentley teases Arnage successor

Bentley is giving a glimpse of its future this morning with a teaser shot of the Arnage successor due out in 2011. Look for a public debut this summer, possibly in concept form at the Pebble Beach concours, where the British luxury maker is one of the featured companies as it marks its 90th anniversary. Details are scarce, though the teaser shows a lengthy hood, a prominent grille and big fenders--hallmarks of the Bentley line.

Tesla asks NHTSA to investigate fires

In response to concerns following a recent accident which appeared to result from road debris damaging the underside of a battery compartment of a Tesla Model S, causing a fire in the engine compartment, the company has announced that it has requested that the National Highway Traffic Safety Administration conduct a full investigation into the fire incidents. In a blog post, Tesla CEO Elon Musk wrote the following about the investigation: "While we think it is highly unlikely, if something is discovered that would result in a material improvement in occupant fire safety, we will immediately apply that change to new cars and offer it as a free retrofit to all existing cars. Given that the incidence of fires in the Model S is far lower than combustion cars and that there have been no resulting injuries, this did not at first seem like a good use of NHTSA's time compared to the hundreds of gasoline fire deaths per year that warrant their attention." Tesla has also released a software update to the cars which will maintain their standard ride height at highway speeds, preventing the air suspension from lowering the car an extra inch at highway speeds for greater aerodynamic efficiency.