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News watch December 2010: 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-hourFriday 31 December 2010• A judge in Manhattan has dismissed two lawsuits from hedge funds claiming for $2bn losses when it bought VW shares in 2008. Elliott Associates LP, Black Diamond Offshore and 39 other funds filed a complaint, claiming Porsche misled short-sellers who hadn't realised that Porsche had cornered the market in VW shares (Automotive News)Thursday 30 December 2010• Volvo plans to hire an extra 200 staff as it claims demand for its cars is rising.

Tesla Models S UK price announced

Tesla has opened its first UK car dealership at the Westfield Shopping Centre in White City, London. At the opening of the premises, the American premium electric vehicle manufacturer confirmed its Model S saloon will cost £49,900 in the UK, with delivery of the first cars targeted for the end of March 2014. On Bing: see pictures of the Tesla Model S Find out how much a used Tesla costs on Auto Trader Tesla Motors’ co-founder and chief executive officer Elon Musk was at the event hosted specially for UK customers, and hinted at future plans for the brand in Britain: “Tesla is taking the UK market very seriously, and there are more stores and service centres to come.

BMW reveals M3 GT2-based Art Car

This brightly coloured beast is BMW’s latest Art Car, and the company's entry into this year’s Le Mans 24hrs. Based on the M3 GT2, the 17th Art Car has been designed by Jeff Koons and was unveiled last night at the Centre Pompidou in Paris. BMW might not need such help – the M3 GT2 has already picked up a first place at this year’s Nurburgring 24hrs.