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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.

Ron Dennis steps down from F1 to focus on supercars

Ron Dennis hands over the baton to Martin Whitmarsh. He'll now be focusing on McLaren Automotive's new P11 and other road cars By Tim Pollard Motor Industry 16 January 2009 15:43 McLaren Mercedes team principal Ron Dennis is to step down as boss of the F1 team to concentrate on McLaren's other interests – including McLaren Automotive, which is planning a range of new top-end sports cars. CAR Online has led the world with its scoops on the new McLaren P11, a British alternative to the Ferrari 430 Scuderia.

Briefs all in for Car Design Awards China 2014

It's exactly a month since the fifth annual Car Design Awards China's launch and we're pleased to announce all the briefs are in. Created to discover the latest crop of Chinese design talent, this year's contest – open to full-time students studying a design discipline of any kind in China – features briefs from Mercedes-Benz, Volkswagen, Geely, JAC, Qoros and UD Trucks. Mercedes-Benz Mercedes-Benz has asked participants to study the average Chinese family, their lifestyle and habits and design the most suitable Mercedes-Benz car concept imaginable for them in the future.